Starwood Completes Sale of Iconic Turnberry Resort in Scotland to Leisurecorp (Centre Daily Times)

October 31st, 2008

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today that the sale of the iconic 219-room Turnberry Resort, Ayrshire, Scotland, to Leisurecorp, the Dubai World company, for GBP 55 million (approximately USD$100 million), has been completed. Starwood has entered a 50-year management agreement to manage the hotel and after an extensive GBP 30 million (approximately USD$49 million) …

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