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Article: Starwood Hotels & Resorts Completes $14.6 Billion Acquisition of ITT Corporation; Creates Largest Hotel & Gaming Company in the World.
- Article from:
- Business Wire
- Article date:
- February 24, 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)--Feb. 24, 1998--Starwood Hotels & Resorts Worldwide, Inc. ("the Corporation"), a hotel management and operating company, whose shares are paired with and trade together as a unit (NYSE:HOT) with Starwood Hotels & Resorts (the "Trust", and together with the Corporation, the "Company" or "Starwood Hotels") a real estate investment trust, today announced the completion of the previously announced acquisition of ITT Corporation (NYSE:ITT). After yesterday's closing, Starwood Hotels' portfolio now includes more than 650 hotels and resorts located in over 70 countries worldwide, with additional hotel and resort projects under development around the ...