Starwood Hotels & Resorts Worldwide Inc. plans to open more than 60 hotels in Europe by 2020, increasing its locations by almost 40 percent, as the U.S. company taps growth in countries including Turkey and Russia.
Starwood Hotels & Resorts Worldwide Inc., owner of the Sheraton and W brands, said fourth-quarter earnings declined as sales at its St. Regis Bal Harbour Resort in Florida weren’t repeated and hotel revenue fell.
When Larry Robbins was a boy in the Chicago suburbs, his father, Sheldon, worked two jobs and wasn’t around much. If the young Robbins wanted to see him on weekends, he had to travel to Arlington Park, a nearby horse-racing track that his dad ran. During those Saturday visits, his father taught him how to handicap horses. One lesson: Know the horse and the race. Was the track dry or muddy? Did the horse win because he was fast or because the competition was lousy?
Sands China Ltd., the Macau casino operator controlled by billionaire Sheldon Adelson, posted a 40 percent gain in fourth-quarter profit as its resorts drew more bettors in the world’s biggest gaming market.
Starwood Hotels & Resorts Inc.’s North American hotel occupancies are at a record, giving the owner of the Sheraton and W brands greater ability than ever to raise rates in the region, Chief Executive Officer Frits van Paasschen said.