Starwood Hotels & Resorts Worldwide, Inc. announced today the sale of The International Golf Club in Bolton, Massachusetts for about $25 million to Arklow Limited Partnership of Massachusetts.
The International was acquired by Starwood as part of its acquisition of ITT Corporation in February 1998. ``As previously announced, the sale of The International is part of our ongoing plan to sell non-core assets, reduce debt, focus on our core lodging and gaming business and maximize shareholder value,`` said Barry S. Sternlicht, chairman and chief executive of Starwood.
Starwood Hotels & Resorts Worldwide, Inc., (NYSE:HOT) through its Sheraton, Westin and Caesars subsidiaries, is one of the leading hotel and gaming operating companies in the world. The company owns, operates and franchises more than 650 hotels in 70 countries and has over 125,000 employees.