• Starwood to sell ‘a lot’ of hotels

Vasant Prabhu, Starwood Hotel and Resorts’ CFO, has said that the company expects to sell "a lot" of hotels in a few years, once the transaction market has recovered.

Prabhu told Reuters that the group was in no rush to sell and planned to make the disposals at "good values on long-term basis". The move would mark a refocusing on the group’s asset-light strategy.

See the full story here:
http://www.reuters.com/article/idUSTRE67H5ZI20100818

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