Starwood Hotels Starts High-End Brand to Expand Globally

Starwood Hotels & Resorts Worldwide Inc., whose chief executive officer resigned in February amid slow growth, is adding a new high-end brand to expand its reach globally. Starwood Hotels, owner of such names as Sheraton and W, expects to add 100 properties in the next five years under the new Tribute Portfolio brand, debuting with the Royal Palm South Beach Miami, the Stamford, Connecticut-based company said in a statement Thursday.

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