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Starwood Hotels & Resorts Worldwide Inc. Message Board

  • pinkertoning pinkertoning Jun 15, 1999 8:25 AM Flag

    HOT in WSJ

    HOT, HLT, PPE, and MIR were featured in the WSJ Interactive headline stories this morning. A synopsis of the story is linked to the WSJ/DJ Synopsi page at http://www.omnicognizance.com

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    • What impact have the original guys had on Vistana
      in the last 20 years? I'm sure your correct, I
      believe that Adler and gellein call the Shell people
      daily to get advice on how to operate their company.
      They probably don't make a move without checking with
      the guys that started the company. The fact of the
      matter is Vistana is running a first class operation
      across the board. Every analyst agrees. I have family
      that works for the competition and it is a well know
      fact that they do it right. The same can't be said for
      the other" low end operators". I think you've been
      smelling popeys instead of roses.

    • Who started Vistana?
      Who taught Rip and Jeff the business?
      Who is the other partner in Shell?
      Who said timeshare division would run from White Plains?
      Wake up and smell the roses?

    • When I said the same can't be said for Snyderman / Ginsburg and Siegle, its not that they are not smart business people, they are, they are just not institutional whereas Rip and Jeff are.

    • Sorry to disagree with you, but you unfortunately
      do not know this industry or are motivated by some
      other thoughts. While Vistana (aside from the absolute
      value considerations) has good management, I'm quite
      certain the same can't be said for the other two. The
      Shell Group is clearly a mismatch for any Starwood
      enitity. To picture Messrs. Ginsburg and Snyderman roaming
      the halls of White Plains would be truly interesting
      and only possibly exceeded to seeing Mr. Siegle
      roaming those halls. In addition, for the most part,
      Shell's resorts by their own company admission are 2 star
      with a few being 3 star, and NONE being 4 star. But
      that doesn't mean that that is a bad tranche of the
      market to play in, but not Starwood quality. Mr. Siegles
      Resorts on the other hand are _ Star.

    • Vistana makes a good fit for the Public held
      company.
      The only private timeshare companies that have the
      quality resorts that would fit with Starwood would be
      Shell Vacations LLC and Westgate Resorts the other
      private companies. And talk about baggage if they became
      part of a public company. The disclosures alone would
      probaly slow growth. But both have been setting up new
      companies to distance from some of old properties of past.
      Could make for General Development story all over
      again.

    • And... does anyone know how long Starwood will continue to market Caesars as part of the Starwood family?

    • From what I have read, the transition from Caesars to Park Place is suppose to be some time in October. Does anyone have any more information on this?

    • While I'm not privvy to all that has happened in
      the previous effort with the "other" company which
      Barry has which as you say went nowhere. Everyone in
      the industry knows it was a lot more than "Management
      couldn't get along". The key issue was why management
      couldn't get along, and from what I hear, Starwood Capital
      did a yoeman's job in distancing any Starwood entity
      from problems which were discovered once they were
      operating.

      WorldStar still exists and actually has
      one of the strongest balance sheets of any of the
      independents. It is filling in holes in their management team
      with Marriott and Hilton timeshare execs and has three
      projects in the development pipeline. I agree, it may be
      Vistana, but that doesn't mean it should be Vistana. $400
      million for a management team is a lot. Its a typical
      bloated big company move which involves force over
      finesse and is not typical of the way Barry made super
      returns for his investors. Think about it.

    • I don't believe there is any truth to that rumor.
      What is true is that Starwood is actively looking at
      one public timeshare company and one private company.
      Then public one is relatively well known and not a
      secret anymore, but 20 year old timeshare companies come
      with a lot of baggage and off b/s liabilities. At the
      end of the day, Barry doesn't need their receivables
      portfolio or their land holdings. So $400 million to get a
      management team is pretty expensive. I can't say more about
      the private company whose execs I know as a very
      talented group. The bigger issue is that Starwood through
      Westin has been looking at the timeshare business for
      almost 4 years and is stuck in neutral while Marriott
      has a field to itself. Both Hyatt and Hilton are
      finally getting their act together but are way behind on
      the curve and have only so-so management. We'll see.

    • Well stated synopsis, however you might of underscored the shareholder value aspect. Remember HOT was at one time trading at 62.875. Now its at 28 and change.

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HOT
77.05-0.20(-0.26%)Sep 22 4:00 PMEDT