Why Cheap Oil Is Bad (But Could Also Be Good) for Starwood
Photo Credit: Starwood may be looking for a buyer for the St. Regis New York. Starwood Hotels & Resorts
Skift Take
Could low oil prices make Starwood-owned properties a good prospect for investors? The hotel company — looking to shed nearly $1 billion in assets — sure hopes so.
Starwood Hotels & Resorts Worldwide is seeing revenues fall at hotels in oil-producing cities as low prices show no sign of rebounding.
But the Stamford, CT-based hotel company said during an earnings call Thursday that volatility in the energy market might mean investors are looking for safer places to park their cash.
Starwood said it owns hotels — including the high-end St. Regis New York — that could be attractive for big-ticket buyers. The company is looking to sell 19 hotels as it pursues a strategy of selling off assets and focusing on mana
