• Starwood sells St. Regis Aspen

Starwood Hotels & Resorts Worldwide has sold the 179-room St. Regis Aspen for $70m to 315 East Dean Associates.

The sales price represents a multiple of 17 times anticipated 2010 EBITDA and in addition the buyer has committed to a major renovation of the resort.  Starwood will maintain a 50-year management agreement and continue to operate the resort under its St. Regis flag.

See the full release here:
http://www.nyse.com/interface/jsp/NHDetail.jsp?RequestID=2&pageID=NewsHeadlines&sid=BW 09/29 201009291654_BusinessWire_146175325&isdowjones=false

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