Marriott Is Selling More Starwood Properties to Further Its Asset-Light Strategy

Marriott International, the world's largest hotel company with 30 brands and almost 6,000 hotels around the globe, is known throughout the hospitality and travel industry for pursuing a purely "asset-light" management model. Today, Marriott announced its latest move meant to complement its existing financial strategy and to help the company get that much closer to achieving some $250 million in annual cost "synergies," or savings, associated with its $13.3 billion acquisition of Starwood Hotels & Resorts, which was finalized in September. Marriott completed the sale of its long-term leasehold interest in The Westin Maui Resort & Spa, Kaanapali for $317 million, selling the 759-beachfront resort to Trinity Investments and Oaktree Capital Management. Both Trinity and Oaktree intend to invest in capital improvements that include a renovation of the hotel's Beach To