Related Cos. and Starwood to build series of luxury hotels in the U.S
Article Abstract:
Related Cos. and Starwood Hotels & Resorts Worldwide are planning to build ten hotel projects, which will have a total cost of about $1 billion. Kenneth Himmel, president and chief executive of Related Lodging Group, a unit of Related Cos., stated that the cost of building hotels has become so high that it is now more economical to build them. The new hotels will operated under StarwoodEs major brands, Sheraton, Westin, St. Regis, and the "W" chain. Starwood will pay about 25% of the cost of developing the new properties, which are expected to cost about $1 billion each. Related will hold the remaining interest in the properties along with another property developer, which it has declined to name.
Comment:
Related Cos.and Starwood Hotels plan to build ten hotels, which will cost about $1 bil
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Cornerstone REIT to pay $900 million excluding debt for California developer
Article Abstract:
Despite William Wilson and Associates' falling stock, down 15% this year, the California developer has been acquired by Cornerstone Properties Inc for $990 million in cash and stock. The real estate investment trust will also assume $780 million in debt. The deal will give Cornerstone presence on the West coast, with development and property management operations at their disposal. William Wilson, with 75% of its portfolio in the San Francisco Peninsula, will be able to build geographically, in markets nationwide.
Comment:
Cornerstone to be acquired by William Wilson for $990 million
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Gemstar adopts 'poison pill' measures in face of United Video Satellite offer
Article Abstract:
Gemstar International Group Ltd. adopted a "poison pill" in order to protect itself against a acquisition bid from United Video Satellite Group Inc. United Video's bid is valued at $2.8 billion. The president and CEO of Gemstar, Henry Yuen, announced that his company was studying the bid. However, Gemstar implemented shareholder-rights measures that prevent a takeover by United Video.
Comment:
Gemstar adopts a "poison pill" in order to protect itself against a acquisition bid from United Video Satellite Group Inc.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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