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Microcap & Penny Stocks : MPTVE - Turnaround With Huge Potential -- Ignore unavailable to you. Want to Upgrade?

To: Lupins who wrote (4817)	6/18/1999 11:18:00 AM
From: Country Tyme	Read Replies (1) \| Respond to of 5783

Interesting... From the Las Vegas Sun ::::::::::::::::::: June 09, 1999 Starwood plans to enter the time-share business BLOOMBERG NEWS Starwood Hotels & Resorts Worldwide Inc., the world's largest owner of hotels, plans to enter the time-share business through either an acquisition or a joint venture. The company, which owns the Westin and Sheraton hotel chains, has decided it would take too long to build its own time-share business, said Juergen Bartels, chief executive of Starwood's hotel group. Time-shares are vacation condominiums that customers buy the right to use for a set period of time. The White Plains, N.Y.-based company has said it will enter the time-share business, capitalizing on vacation resort land it owns and the names of its well-known hotel chains. Time-share sales are expected to grow as aging baby boomers spend more on travel and leisure. Bartels said he would prefer to acquire a time-share operator, over a joint venture. He was speaking at the PaineWebber Growth & Technology Conference in New York. Starwood has already agreed to establish a joint venture for one time-share project. It and Sun International Hotels Ltd. said last month they plan to build 350 time-share units at the Desert Inn casino resort in Las Vegas. Starwood is selling the Desert Inn to Sun International for $275 million. Starwood, owner of Caesars Palace and other gaming properties, is selling its gaming unit to Park Place Entertainment of Las Vegas. -------------------------------------------------------------------------------- Printable text version of this story \| Mail this story to a friend Las Vegas SUN main page Questions or problems? Click here. Read our policy on cookies and privacy. Click here. All contents copyright 1999 Las Vegas SUN, Inc. Nevada's largest website