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Hotel chain gains as it shifts gears

Starwood owns and manages about 20 hotels in the Bay State. Starwood owns and manages about 20 hotels in the Bay State. (istockphoto.com)
October 11, 2011

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Shares of Starwood Hotels & Resorts Worldwide Inc. rose the most since May 2010. The owner of the Sheraton and W brands may double as it remakes itself into a manager, rather than an owner, of hotels, Barron’s reported. Starwood Hotels, which is based in White Plains, N.Y., has sold 110 properties since 2000, so it now gets 57 percent of its operating earnings from managing hotels owned by others under its brands, Barron’s reported. The financial news service also said Starwood aims to earn 80 percent of operating earnings from fees.