Investor Sam Zell’s increased stake to more than 8 percent in Starwood Hotels & Resorts Worldwide has fueled rumors that he may attempt a takeover of the company.
Starwood manages the Sheraton San Diego Hotel & Marina, one of the city’s largest convention hotels, but does not own it. It also manages the historic US Grant Hotel in downtown and the W San Diego in downtown’s Marina District. The only property that it owns within the county is the Westin Gaslamp Quarter, and it also manages it.
Zell’s Equity Group Investments and Starwood entered into an agreement to share confidential financial information on Dec. 29, according to a Dec. 31 SEC filing.
Starwood, based in White Plains, N.Y., trades on the New York Stock Exchange as HOT.
, Connie Lewis
