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Starwood sells to Host Marriott and acquires Le Meridien brand

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Host Marriott Corp. acquired 38 luxury and upscale hotels from Starwood Hotels and Resorts Inc., which Starwood will continue to operate for up to 40 years.

Meanwhile, Starwood Hotels & Resorts Worldwide acquired 130 Le Meridien hotels and resorts in 56 countries, significantly increasing the company’s presence in Europe, Africa, Asia Pacific and the Middle East.