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Article: Starwood Hotels & Resorts Completes Acquisition of Westin Hotels & Resorts; New $2.265 Billion Credit Facility Established; ITT Transaction Expected to Close in Early February.
- Article from:
- Business Wire
- Article date:
- January 5, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHOENIX--(BUSINESS WIRE)--Jan. 5, 1998--Starwood Hotels & Resorts Trust (the "Trust"), a real estate investment trust, whose shares are paired and trade together as a unit (NYSE:HOT) with Starwood Hotels & Resorts Worldwide, Inc. (the "Corporation", and together with the Trust, the "Company" or "Starwood Hotels & Resorts"), a hotel management and operating company, today announced the completion of their previously announced acquisition of Westin Hotels & Resorts.
Effective upon closing of the Westin acquisition, the Trust's and the Corporation's names were changed from Starwood Lodging Trust and Starwood Lodging Corporation to Starwood Hotels & Resorts ...