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Sale of W San Francisco CompletedAugust 7, 2009 By: Travel Agent Central Contributor
Starwood Hotels & Resorts Worldwide, Inc. announced today that it has completed the sale of the W San Francisco to Keck Seng Investments (Hong Kong) Limited for $90 million.
The sales price represents a multiple of over 14X anticipated 2009 EBITDA. Starwood also entered a long-term management agreement to continue operating the hotel as a W.