Published On: Thu, Jul 30th, 2015

Barry Sternlicht’s Starwood, Intercontinental Hotels, held early deal talks – FT

Sternlicht,   Chairman and CEO of Starwood Hotels and Resorts,

Financial Times reported on Thursday the InterContinental Hotels (IHG.L) and rival Starwood Hotels (HOT.N) have held early deal talks.

The informal talks are very tentative and Starwood may choose another suitor or pursue another strategy, cautioned people familiar with the discussions, the FT reported.

A merger would create the world’s largest hotel operator, with more than 1 million rooms in 100 countries. The talks are tentative and Starwood may chose a different partner or follow another strategy, the FT reported, citing two people familiar with the discussions.

“We never comment on speculation, and if somebody makes an offer, we’re a British company, and we’d consider it, ” InterContinental Chief Executive Officer Richard Solomons said in an interview on Bloomberg Television on Thursday. Solomons made the comments following the company’s first-half earnings release, before the Financial Times published its article.

Barry Sternlicht’s Starwood is one of the world’s largest hotel companies, it owns, operates, franchises and manages hotels, resorts, spas, residences, and vacation ownership properties under its ten owned brands.

As of 1 December 2014, Starwood Hotels and Resorts owned, managed, or franchised over 1, 200 properties employing over 180, 400 people, of whom approximately 26% were employed in the United States.

Barry Sternlicht

X-1-Hotel-pool Barry Sternlicht,   left,   and Richard LeFrak partnered on the three-year project.

Barry Sternlicht, the legendary real estate investor and creator of W-Hotel boutique design brand, is making another big splash in the branded hotel segment by rolling out his new 1 Hotels brand.

The hotel visionary More…

Baccarat Hotel in Manhattan

Beijing-based Sunshine Insurance announced on Monday that it is planning to buy the Baccarat Hotel in Manhattan for $230 million from Starwood Capital Group LLC. The Wall Street Journal noted on Friday that the More…

Baccarat Hotel

Barry Sternlicht’s Starwood Hotels & Resorts Worldwide is already looking to sell its new Baccarat hotel in Manhattan for as much as $200 million,  The Real Deal has reported. Located at 20 West 53rd Street More…

Opening of the W Hotel in NYC

Starwood Waypoint is raising capital to increase its portfolio and buy back stock. Starwood Waypoint Residential Trust, a California based single-family rental real estate investment trust,  More…

Opening of the W Hotel in NYC

– This week Barry Sternlicht’s Starwood Capital Group agreed to buy a portfolio of seven regional shopping centers from Taubman Centers Inc. for just over US$ 1.4 billion. Starwood will pay US$785 million in More…

Opening of the W Hotel in NYC

– Starwood wants to sell the new Baccarat Hotel in New York before it even opens. Barry Sternlicht’s Starwood Capital Group is looking to sell the Hotel section of its Baccarat More…

Opening of the W Hotel in NYC

The CEO and Chairman of Starwood Capital Group, Barry Sternlicht,  believes strongly that single family rental housing units can become major real estate investment trusts (REIT).  – – While the average investor More…

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Roman Holiday : Now Barry Sternlicht Is Building A New Football Stadium In Rome.

For Top Team AS Roma the European kind that More…

Police_car_pulls_over_driver_in_New_York - WIKIPEDIA

Sternlicht,  one of the East Coast’s most active developers of commercial real estate is expected to develop the property, situated on the highly desirable West 34th Street,  into retail stores as well as take More…

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