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Actionable news in HOT: STARWOOD HOTELS & RESORTS WORLDWIDE Inc,

Starwood Hotels to Sell Resorts’ Vacation for Around $1.5 Billion

Still, adjusted earnings per share topped expectations.

Separately on Wednesday, Starwood said it would sell its Resorts’ Vacation Ownership business to Interval Leisure Group IILG 0.24 % for about $1.5 billion. The unit will then merge with ILG’s Vistana business, following the completion of the planned spin-off of Vistana from Starwood announced in February.

The Wall Street Journal had previously reported that ILG was in advanced talks to buy Starwood’s vacation-ownership business.

On Wednesday, the...


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