STAMFORD, Conn. ― Starwood Hotels & Resorts Worldwide, Inc. has announced that its Board of Directors will be exploring a full range of strategic and financial alternatives to increase shareholder value. As part of that process, the company has retained New York-based Lazard to assist it.
According to Bruce W. Duncan, chairman of the Board, “Our Board has always been focused on maximizing long-term shareholder value, and this is a time of enormous opportunity and change in our industry. Accordingly, we will thoroughly explore the full range of strategic and financial alternatives available to Starwood to capitalize on our industry-leading global platform and best-in-class premium brands. No option is off the table, and we will take the time we need to thoroughly evaluate our opportunities and achieve the best result for our shareholders, business partners and associates.”