CEO: Starwood Hotels Could Be Sold By Year End

NEW YORK (AP) — Starwood Hotels is nearing a deal to sell the company or merge with another hotel chain, its CEO said on an earnings call Wednesday.

"This has the company's highest attention," interim CEO Adam Aron said. "Our clear goal is to optimize the value for our shareholders."

Back in April, Starwood announced its board was exploring strategic options for the hotel company. At the time, Starwood didn't mention a sale, but analysts considered it a possibility.

Speculation about a potential buyer heated up this week. First the Wall Street Journal reported that three Chinese companies were seeking government approval to place bids for Starwood. Then Wednesday CNBC reported that Hyatt Hotels Corp. was close to purchasing Starwood in a cash and stock deal that would leave Hyatt management in control of the combined company.

Spokeswomen for both hotel chains declined to comment about any possible deal.

Starwood shares have rallied on the reports, gaining 9.1 percent Tuesday and rising 6.6 percent to $79.74 in afternoon trading Wednesday.

"Our progress is active and nearing conclusion," Aron told investors Wednesday afternoon. He wouldn't comment on any specific deal, but said: "I would be surprised if we don't have answers to these questions by the end of this calendar year."

Starwood Hotels & Resorts Worldwide Inc., based in Stamford, Connecticut, has a market capitalization of $13.6 billion; Hyatt's is $7.1 billion. Starwood, which includes the Westin, Sheraton, W and St. Regis brands, has 1,271 hotels with a combined 362,623 rooms. Hyatt, has 618 hotels with a combined 160,205 rooms.

A merger of the two would help the new company better compete with hotel giants Marriott International, Hilton Worldwide and Intercontinental Hotels Group, all which have more than 4,000 properties and roughly 700,000 rooms each.

By SCOTT MAYEROWITZ 

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Survey: Mandarin Oriental And Ritz-Carlton Are The Most Expensive Luxury Hotels In The USA

The seven priciest city hotels in the United States are all located in Manhattan. A recent survey conducted by Luxury-Hotels.com Luxury-Hotels.com has put The Ritz-Carlton and the Mandarin Oriental at the very top of the rankings among these luxury establishments.

The survey compared luxury hotels based on their cheapest available rate for a double room during the month of October 2015. The website select October as its comparative basis because hotel rates in the majority of U.S. cities, including New York City, reach their highest average levels during that month.

The Ritz-Carlton and the Mandarin Oriental, both located one block from the United States’ most visited urban park, Central Park, share the top of the rankings. A minimum nightly rate of $995 for a double room put them in the survey’s number one spot. The Baccarat Hotel, also located in Midtown Manhattan, takes the third spot, at only five dollars cheaper.

The most expensive city hotel outside of NYC is located in Los Angeles. With a minimum nightly rate of $800, the Montage Beverly Hills ranks eighth most expensive overall in the nation. Just one dollar cheaper per night, the SKYLOFTS at MGM Grand is Las Vegas’s most expensive hotel.

The following table shows the 10 most expensive city hotels in the United States. The prices listed indicate the cheapest available rate for a double room during the month of October 2015.

1. Mandarin Oriental (New York) $995
1. The Ritz-Carlton Central Park (New York) $995
3. Baccarat Hotel & Residences (New York) $990
4. The St. Regis (New York) $945
5. The Plaza Hotel (New York) $893
6. The Peninsula (New York) $845
7. Park Hyatt (New York) $834
8. Montage Beverly Hills (Los Angeles) $800
9. SKYLOFTS at MGM Grand (Las Vegas) $789
10. The Lowell (New York) $785

For the full rankings of the survey and for more information about its methodology,click here.

Travelore News: St. Regis Unveils Highly Anticipated Flagship In Istanbul

ISTANBUL, Turkey - St Regis Hotels & Resorts, part of Starwood Hotels & Resorts, Inc, is delighted to debut the highly anticipated St. Regis Istanbul. Owned by Nisantasi Konaklama ve Otel Hizmetleri A.S. (Demsa Group), The St. Regis Istanbul marks the debut of the luxury brand in Turkey. St. Regis has tripled its global footprint in the last decade to 34 hotels and is set to open three more hotels this year, strengthening its position as a leader in luxury hospitality.

Nestled in the sophisticated Nisantasi neighborhood, The St. Regis Istanbul is surrounded by chic designer boutiques and boutique art galleries. The residential hotel sits atop Maçka Park and boasts breathtaking, floor-to-ceiling views of the Bosphorus from each of the 118 guestrooms and suites. Designed by award-winning Turkish architect Emre Arolat, The St. Regis Istanbul is a modern interpretation of Istanbul’s glamorous Art Deco era with a variety of contemporary art installations.

“With the opening of The St. Regis Istanbul, we are delighted to strengthen Starwood’s presence in Turkey, one of our key markets for growth and a burgeoning destination for luxury travelers,” said Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East. “The St. Regis Istanbul will offer exceptional levels of service and exquisite experiences including Spago by acclaimed chef Wolfgang Puck and a Bentley Suite, and we look forward to welcoming guests at our first St. Regis hotel in Turkey.”

“As a hotel brand as international and informed as its guests, St. Regis is thoughtfully building its portfolio in destinations, including Istanbul, where there is a robust demand for high-end hospitality from a new generation of global travellers,” said Jenni Benzaquen, Vice President, St. Regis, W Hotels and The Luxury Collection in Europe, Africa and Middle East. “Capturing the soul of the historic city and the spirit of the new grand tour, this hotel is a befitting debut for St. Regis in this international gateway city.”

Wolfgang Puck’s Iconic Spago Restaurant

The St. Regis Istanbul is home to the first international outpost of Wolfgang Puck’s iconic Spago restaurant, which stars as the hotel’s signature culinary experience. Located on the hotel’s rooftop, the restaurant offers contemporary design and stunning views of the vibrant city. Inspired by the celebrated chef’s global travels, the modern and imaginative seasonal menus include signature dishes, such as blue crab and lobster "Louis" cocktail with spicy tomato-horseradish; "Angry" two-pound live lobster with Szechuan chilies, garlic, scallions and black bean dust; roasted duckling "Peking Style" with blood oranges, port-ginger reduction; and grilled lamb chops, harissa aioli, charred eggplant, falafel “macaroons”, natural jus. This is paired with a superb artisanal cocktail menu and extensive wine list, including international varietals alongside local Turkish wines. Poised to be the best address for celebrity spotting in Istanbul, the Spago lounge offers a seductive atmosphere above the busy streets of Istanbul all year round.

Exquisite Culinary Experiences

While the St. Regis Brasserie offers street-side action: an indoor show kitchen and bustling outdoor terrace, reminiscent of a Parisian café, the Petit “O” Bar follows the St. Regis tradition of creating a signature Bloody Mary cocktail with a local twist. Guests can enjoy the Misty Mary cocktail amidst the “Bosphorus Breeze” mural by Bedri Baykam, the Turkish artist commissioned to create a whimsical mural as the focal point for the bar. The mural is symbolic of the brand’s evolution: a modern iteration of the iconic King Cole Mural at The St. Regis New York, commissioned by St. Regis founder John Jacob Astor IV.

Impeccable Design

St. Regis’ commitment to art and design is brought to life at The St. Regis Istanbul, which showcases works by both internationally-acclaimed and emerging Turkish artists as part of the Demsa Collection of Art. This is complemented by custom pieces created for the hotel, including the spectacular Lasvit chandelier, which takes center stage in the lobby.

The St. Regis Istanbul features an exquisitely designed Bentley Suite, second in the world only to the Bentley Suite at the brand’s flagship hotel in New York. Providing guests with the luxury, craftsmanship and style associated with both renowned international brands, the suite draws inspiration from the Bentley Continental GT model and features hand-crafted finishes and one-of-a-kind furnishings throughout.

Iridium Spa & Beyond Expectation Events

Born from the DNA of the timeless sophistication of the St. Regis brand, Iridium Spa offers a transformative spa journey that bestows the rarest luxury of all: time. With seven treatment rooms and two hammams, the spa offers bespoke treatments tailored to guests’ needs in an idyllic setting. The spa also features an indoor pool and fitness center with the latest Technogym equipment designed by Antonio Citterio.

The St. Regis Istanbul is the perfect venue for special occasions, including exquisite weddings and intimate business gatherings. The hotel has seven meeting rooms, including the prestigious Astor Ballroom, setting an incomparable stage for a truly unforgettable event.

“A Postcard from Istanbul” by John Malkovich

To celebrate the hotel’s debut, St. Regis partnered John Malkovich, who wrote and directed “A Postcard from Istanbul”, an original short film starring Julian Sands and Turkish actress Belçim Bilgin. The cinematic five-minute picture unveils the allure, rich culture and historic charm of Istanbul with sweeping views of the city’s notable sights.

We are thrilled to unveil The St. Regis Istanbul as a modern vision of the St. Regis brand,” said Rui Reis, General Manager, The St. Regis Istanbul. “We look forward to welcoming guests and residents to the hotel, poised to become the best address at a global intersection of art, design, fashion and culture.”