Starwood Gets $125M For Pair Of San Francisco Hotels

Law360, New York (October 31, 2013, 7:44 PM EDT) -- Furthering its strategy to sell off company-owned hotels, Starwood Hotels & Resorts Worldwide Inc. unloaded two San Francisco hotels for $125 million to a venture led by Ultima Hospitality, the company announced Wednesday.

Per the deal, real estate investment trust Ultima is grabbing up the Westin San Francisco Airport and Aloft San Francisco Airport, but will continue to fly Starwood’s flags under a newly inked long-term license agreement, according to a statement.

“We are delighted to strengthen our relationship with Starwood through the acquisition of these...
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