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Starwood Hotels closes on sale of St. Regis space
Starwood Hotels & Resorts Worldwide closes on sale of St. Regis New York retail space
On Thursday November 5, 2009, 11:54 am EST
WHITE PLAINS, N.Y. (AP) -- Starwood Hotels & Resorts Worldwide Inc. said Thursday it closed on the sale of St. Regis New York's retail space for $117 million to investment group GFC Fifth Avenue LLC.
Sale proceeds will go toward paying down debt.
Starwood Hotels & Resorts Worldwide has 982 properties worldwide.
Shares of Starwood rose $1.14, or 3.8 percent, to $30.88.
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