Greenwich, CT, United States
Greenwich, CT, United States

Starwood Hotels and Resorts Worldwide, Inc. is an American hotel and leisure company headquartered in Stamford, Connecticut. One of the world's largest hotel companies, it owns, operates, franchises and manages hotels, resorts, spas, residences, and vacation ownership properties under its nine owned brands. As of 1 December 2012, Starwood Hotels and Resorts Worldwide, Inc. owned, managed, or franchised 1,162 properties employing over 171,000 people, of whom approximately 26% were employed in the United States. Wikipedia.


Time filter

Source Type

News Article | April 28, 2017
Site: www.prweb.com

Recognizing the best of travel loyalty programs, Southwest Airlines Rapid Rewards has been named frequent flyer Program of the Year. Marriott Rewards held the top spot, for the tenth consecutive year, taking the highest honor among hotel programs in the Americas region at the 2017 Freddie Awards. The Freddie Awards were on Thursday, April 27th, hosted this year at the Hyatt Regency Jersey City on the Hudson Jersey City, New Jersey. A record number of 4.2 million frequent travelers from around the globe voted in this year’s campaign. Internationally, Norwegian Reward is Program of the Year for the Europe/Africa region and EL AL Matmid received the Program of the Year Freddie Award in the Middle East/Asia/Oceania region. Among hotel programs, Le Club AccorHotels is Program of the Year for the Europe/Africa region and Starwood Preferred Guest takes top honors as Program of the Year for hotels in the Middle East/Asia/Oceania region. In the popular credit card category, Chase Bank was a big winner by issuing the Southwest Airlines Rapid Rewards Premier credit card. American Express Membership Rewards took top honors in the Middle East/Asia/Oceania region while upstart Norwegian Reward won in the Europe/Africa region with their credit card issued by Bank Norwegian. Also announced were the 210 Award for programs whose value vote rating was trending higher (up-and-comers). Winners in this category included Choice Privileges, Avianca Lifemiles, Le Club AccorHotels, TAP Victoria, ANA Mileage Clubs and Trident Hotels Trident Privilege. The Freddie Awards represent excellence among travel loyalty programs around the globe and rate the best programs in six categories: Program of the Year, Best Promotion, Best Redemption Ability, Best Customer Service, Best Elite Program and Best Loyalty Credit Card. Voters had six weeks to vote and were permitted to vote for programs in one of three global regions: Americas, Europe/Africa and Middle East/Asia/Oceania. Voting also was available in nine different languages. The awards were announced this evening during a gala event at the Hyatt Regency Jersey City on the Hudson in Jersey City, New Jersey. More than 440 airline, hotel and credit card representatives attended the ceremony, along with frequent flyers who voted in this year’s awards. “We are delighted to once again allow frequent flyers throughout the world the opportunity to select the travel loyalty programs that they believe have achieved excellence,” said Randy Petersen, founder of the Freddie Awards. “This is not an elitist view of these programs nor a popular vote, but rather the ‘best’ are determined by the votes of those who spend a great deal of their life on the road and in turn are appreciative of the value they bring to their members.” The Freddie Awards are named after the late Sir Freddie Laker, who attracted fame (and a knighthood in the United Kingdom) for pioneering low-cost air travel across the Atlantic in the 1970s. The presenting sponsor this year was Barclaycard. Other sponsors included Points, eBags, Connexions Loyalty, BoardingArea and Mileslife. The Freddie Awards were custom designed by Society Awards. And the winners are: Americas Airline  Program of the Year — Southwest Airlines - Rapid Rewards  Best Elite Program — American Airlines - AAdvantage (6th consecutive year) Best Promotion — Avianca - LifeMiles  Best Customer Service — Southwest Airlines - Rapid Rewards  Best Redemption Ability — Southwest Airlines - Rapid Rewards 210 AWARD — Avianca - LifeMiles


News Article | March 7, 2017
Site: globenewswire.com

Somerville, NJ, March 07, 2017 (GLOBE NEWSWIRE) -- Eco Tek 360, Inc.’s ( OTCQB: ECTX) www.ecotek360.com President Chris H Giordano stated. “We are pleased to announce to our shareholders that Mr. Simon Graj will now serve as Co-Chairman along with myself to help guide our Company into the future. Simon is the Co-Founder of Graj and Gustavsen one of the world’s leading brand consultants http://www.ggny.com/ . Simon Graj is considered a true pioneer in the world of branding and retail who founded his firm, Graj and Gustavsen, in 1990. He's been called the "Willy Wonka" of the fashion industry and his NY studio has been called a "Playground for CEO's." Prior to G+G, Simon's professional career spanned two decades as a retail innovator in leadership positions working in all facets of the industry, including working with Mickey Drexler on a retail prototype called "Hemisphere" that helped pave the way for Banana Republic's transition from safari to fashion. A "Merchant at Heart", Simon founded G+G as a fusion of a consulting firm and a creative agency to provide insight, innovation  strategy and design to brands and retailers with a rigorous consumer-driven process that looks at global trends and white space opportunities in the market. His firm's exclusive client list includes Harley-Davidson, Kohl's, Kimberly Clark, Scripps Networks, Waterford Wedgewood, Levi Strauss, and Dick's Sporting Goods. Simon has guided G+G into several service offerings including brand positioning, licensing, retail design, and strategic consulting for innovation and growth. G+G is also a favored source for private equity firms seeking decisive brand turnarounds and extensions. G+G is managed by Simon Graj and founding partners Raymond Graj and Eric Gustavsen. - Turnaround of the Sears tool department with the "Tool Territory" retail experience - Creation of the Timberland PRO® brand, which was responsible for record earnings in its first three years after launch and still going strong today - Positioning of OshKosh B'Gosh, worked with Berkshire Partners to package for sale to Carters for $312mm - Engaged by Starwood Capital to position and create the image and licensing platform the Field & Stream brand, sold to Dick's Sporting Goods for - $50mm, DSG rolling it out as a standalone retail concept - Engaged by Waterford Wedgewood to reposition the brand for a more youthful audience, brand sold to Fiskars for $437mm, a 4X RO - Creation of the Denizen® brand for Levis, now an exclusive denim brand at Target, generated $500mm in its first five years in the market - Engaged by Sherwin Williams to create an HGTV paint co-branded experience, placed at all 3000 SW locations, program is the most successful in - SW's history, now being rolled out across all Lowes stores, expected to do a billion dollars in sales in its first three years at Lowes. - Engaged by Bassett to create an HGTV retail experience, created an "HGTV Design Studio" concept which in its first year resulted in a sales  increase of 32%, operating profit up 97%, and net income up 173%. - G+G engaged by Clarion Capital to reposition the AT Cross Writing instruments company for a new generation of "expressives". Brand value has  increased significantly due to the new face of the brand and new management. - G+G engaged by Kohl's department stores to reposition select in-house brands as part of the 7 Billion dollar chain's "Greatness Agenda." Simon Graj added, “I am excited to be part of EcoTek 360. The Eco Tek 360 Innovation Platform is the business of the future - today. I am thrilled to be part of a company that is pioneering a new era of sustainability through textile rejuvenation processes - saving water, reusing discarded scrap and building a modern purpose driven business. From small batch production in the lab facilities, to a full scale manufacturing in the not to distant future, Eco Tek 360 is pioneering a business enabled by proprietary purposed technology. Innovating the uniform industry, womens active wear, limited edition of collectibles, and as a whole focusing on creating value by aligning with today’s culture and opportunities business. All powered by innovation and sustainability.” “Simon’s understanding of brand is second to none. Having Simon’s insight and influence with decision makers will prove an invaluable asset for EcoTek 360 Inc., going forward. Simon and the G & G team will help us position and brand our products for success. We are both excited and proud to have him as Co Chairman of EcoTek360, Inc., concluded Chris Giordano.”


"All of the brands charge their fees based on top-line rooms or total hotel revenues, regardless of the booking source," said Tompkins. "The brands collect on reservation sales from online travel agents, volume accounts, travel agents, brand.com, and direct hotel sales efforts. Owners and investors are frustrated. Our team has given a great deal of thought to our company's offering. It's truly one-of-a-kind." Harmony Hospitality Group uses a membership model offering year-to-year agreements. Hotels pay a one-time initiation fee, then an annual membership fee plus 10 percent only on reservations generated through the company's property search engine: www.explorehhg.com. Unlike other hotel brands, there is no charge on many reservation codes including OTA's, AAA, AARP, global distribution systems (GDS), or volume business transient or group account bookings that have been achieved through the direct sales efforts of the hotel. Membership benefits include a long list of programs and services valued at hundreds of thousands of dollars for Hotel Alliance members. Among them: Tompkins says his company's core principal is "to do the right thing, for the right reasons, for the benefit and betterment of everyone."  The company's commitment to owners and operators is reflected in its tagline, "Working Together...In-Sync™." The company's primary focus is independent hotels. Hotels get to keep their name and unique identity.  Its then placed into one of Harmony Hospitality Group's three distinct membership co-brands; Harmony Hotels, Inns and Suites for mid-range and upscale properties; Apricity Hotels & Resorts for business, leisure and group travelers in the upscale segment, and Christopher Resorts for true resorts in the luxury segment. The company is also focused on owners of hotels that have existing brand agreements set to expire. According to Tompkins, many feel trapped.  If they change flags, the cost to rebrand is in the millions. The cost to remain with their current flag most often requires significant, costly property improvements (PIP.) If they go independent they become heavily reliant on OTA reservations charging an average 25% to 35% commission. Their co-brands do not compete with one another, nor will they suffer from market over-saturation like operators face with multiple same-family-brands and similar hotels on every corner.  Alliance members have a protected geographical territory. Tompkins, who was recently Chief Operating Officer at B Hotels & Resorts, Fort Lauderdale has worked for Hilton, Hard Rock, Starwood and Carlson and has national and international experience. He has assembled a team of non-hospitality professionals in technology, creative services, digital, multi-media, financial services and more. He has also forged solid service provider and partnership relationships including: Harmony will begin taking Hotel Alliance Members beginning April 24, 2017.  Its consumer hotel booking engine – explorehhg.com - will debut in September, allowing the company time to set up member hotels with all of their services and load them into the global online platform.  An aggressive consumer advertising program will commence with the booking engine's debut. "Harmony is an industry game-changer," said Tompkins. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/upstart-harmony-hospitality-group-to-upend-hotel-industry-by-confronting-excessive-brand-standards-mandates-restrictions-and-fees-300443430.html


You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Forestar Group to Starwood Capital Group for $14.25 per share. To learn more about the action and your rights, go to: or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you. Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-levi--korsinsky-llp-announces-an-investigation-into-whether-the-sale-of-forestar-group-inc-to-starwood-capital-group-for-1425-per-share-is-fair-to-shareholders--for-300444680.html


News Article | May 3, 2017
Site: www.PR.com

Midas Hospitality to Bring First Element by Westin to St. Louis Hotel to be built at current Habitat for Humanity Saint Louis site. St. Louis, MO, May 03, 2017 --( Owner Midas Forest Park, LLC, a subsidiary of Midas Hospitality, recently bought the current home of Habitat for Humanity Saint Louis (HFHSL) located at 3763 Forest Park Ave. The 1.5 acre property was purchased for $2.4 million to make way for the $25 million Element by Westin. Midas Hospitality will lease the non-profit organization space for up to one year while it relocates. The hotel concept encourages renewal through a nature-influenced environment and is constructed with an efficient use of space and sustainability in mind. The eight-story, 119,000-square-foot hotel will include 153 extended stay rooms and feature 10,000-square-foot retail space plus a rooftop lounge. The environmentally-responsible rooms will have oversized windows to allow natural light plus fully-equipped kitchens with spa-inspired bathrooms. The hotel will have an extensive fitness center, an all-natural saline pool, and a borrow-a-bike program for its guests. Element will be located directly across from the St. Louis Foundry redevelopment. It will back up to St. Louis University and be only three blocks from the Cortex Innovation District and one block from Ikea. Midas Hospitality will manage the hotel. The builder is MC Hotel Construction, a general contractor specializing in new hotel construction and renovations, which is the sister company of Midas Hospitality. The architecture firm is Gray Design. All three companies are based in St. Louis, Mo., and this is the first Element hotel built and managed by these businesses. Carrolton Bank provided the financing for the acquisition. “The vibrant midtown area is the perfect place for an environmentally-friendly Element by Westin,” said Midas Hospitality CEO David Robert. “We are excited to work with this growing community by providing extended stay lodging to the university campuses, innovation district, and medical community.” “We are delighted with the sale and what it will mean to our much needed work in the community. As good stewards of our organization’s assets, we were pleased to be able to take advantage of the strong commercial real estate market in the area,” said Habitat for Humanity Saint Louis CEO Kimberly McKinney. “For up to a year, we will be continuing our important work of building safe and affordable housing for hard working families from our current Forest Park Avenue location. We look forward to sharing more information in the future on our operations for our city Habitat ReStore, our construction warehouse and our administrative offices in a conveniently relocated space.” Habitat for Humanity Saint Louis (HFHSL) is a not-for-profit, ecumenical housing ministry working in partnership with individuals and communities of all faiths to improve housing conditions and provide safe, decent and affordable housing in St. Louis City and County. In addition to a down payment and a mortgage, each HFHSL homebuyer invests 350 sweat-equity volunteer hours into building or rehabbing a home and attending life skills classes. Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 30 hotels in 14 states. The company serves global brands including Hilton, IHG, Marriott, and Starwood. Midas Hospitality’s headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, Mo. For more information, call (314) 692-0100. MC Hotel Construction, which is also located at 1804 Borman Circle Dr., specializes in hotel construction and renovations with projects currently underway in six states. MC Hotel Construction builds for leading brands such as Hilton, Marriott, IHG, Starwood and Legacy Suites. For details, call (314) 339-6600. St. Louis, MO, May 03, 2017 --( PR.com )-- A new eco-conscious hotel, which will be built at the home of a long-time area non-profit organization, is coming to St. Louis by 2019.Owner Midas Forest Park, LLC, a subsidiary of Midas Hospitality, recently bought the current home of Habitat for Humanity Saint Louis (HFHSL) located at 3763 Forest Park Ave. The 1.5 acre property was purchased for $2.4 million to make way for the $25 million Element by Westin. Midas Hospitality will lease the non-profit organization space for up to one year while it relocates.The hotel concept encourages renewal through a nature-influenced environment and is constructed with an efficient use of space and sustainability in mind. The eight-story, 119,000-square-foot hotel will include 153 extended stay rooms and feature 10,000-square-foot retail space plus a rooftop lounge.The environmentally-responsible rooms will have oversized windows to allow natural light plus fully-equipped kitchens with spa-inspired bathrooms. The hotel will have an extensive fitness center, an all-natural saline pool, and a borrow-a-bike program for its guests. Element will be located directly across from the St. Louis Foundry redevelopment. It will back up to St. Louis University and be only three blocks from the Cortex Innovation District and one block from Ikea.Midas Hospitality will manage the hotel. The builder is MC Hotel Construction, a general contractor specializing in new hotel construction and renovations, which is the sister company of Midas Hospitality. The architecture firm is Gray Design. All three companies are based in St. Louis, Mo., and this is the first Element hotel built and managed by these businesses. Carrolton Bank provided the financing for the acquisition.“The vibrant midtown area is the perfect place for an environmentally-friendly Element by Westin,” said Midas Hospitality CEO David Robert. “We are excited to work with this growing community by providing extended stay lodging to the university campuses, innovation district, and medical community.”“We are delighted with the sale and what it will mean to our much needed work in the community. As good stewards of our organization’s assets, we were pleased to be able to take advantage of the strong commercial real estate market in the area,” said Habitat for Humanity Saint Louis CEO Kimberly McKinney. “For up to a year, we will be continuing our important work of building safe and affordable housing for hard working families from our current Forest Park Avenue location. We look forward to sharing more information in the future on our operations for our city Habitat ReStore, our construction warehouse and our administrative offices in a conveniently relocated space.”Habitat for Humanity Saint Louis (HFHSL) is a not-for-profit, ecumenical housing ministry working in partnership with individuals and communities of all faiths to improve housing conditions and provide safe, decent and affordable housing in St. Louis City and County. In addition to a down payment and a mortgage, each HFHSL homebuyer invests 350 sweat-equity volunteer hours into building or rehabbing a home and attending life skills classes.Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 30 hotels in 14 states. The company serves global brands including Hilton, IHG, Marriott, and Starwood. Midas Hospitality’s headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, Mo. For more information, call (314) 692-0100.MC Hotel Construction, which is also located at 1804 Borman Circle Dr., specializes in hotel construction and renovations with projects currently underway in six states. MC Hotel Construction builds for leading brands such as Hilton, Marriott, IHG, Starwood and Legacy Suites. For details, call (314) 339-6600. Click here to view the list of recent Press Releases from Midas Hospitality


News Article | April 26, 2017
Site: www.prlog.org

-- Palm Holdings, an international hospitality developer, has acquired a full-service Holiday Inn serving the Orlando and Celebration area.Palm Holdings has purchased the Holiday Inn Orlando SW - Celebration Area, 5711 W. Irlo Bronson Memorial Highway, Kissimmee. The Holiday Inn Orlando SW - Celebration Area is an official Walt Disney World Good Neighbor® Hotel just 2.5 miles from Walt Disney World Resort, which welcomes more than 50 million visitors annually and is the flagship location of Disney's worldwide theme park empire. The theme park is rapidly expanding with current and future developments, including the Disney Springs transformation, a 14-acre Star Wars-themed land, an 11-acre Toy Story Land and Pandora - The World of Avatar. The hotel is within a short drive to Orlando International Airport, Downtown Orlando, Orange County Convention Center, SeaWorld Orlando, Universal Orlando Resort, Old Town and an abundance of other internationally recognized attractions.The hotel offers 444 spacious guestrooms, a restaurant and lounge, over 4,000 square feet of conference and event space, a fitness center, a business center, an outdoor pool, a kids pool and a whirlpool in addition to free transportation to theme parks."The Holiday Inn Orlando SW is an ideal acquisition for us," said Rajan Taneja, SVP of Palm Holdings. "It is in the heart of Orlando's world-class attractions, which are always growing and offering new opportunities for guests. This gives us a launching pad to grow in the Central Florida hospitality space. We continue to look for outstanding properties, not only in Orlando, but across Florida."The acquisition gives Palm Holdings a total of 750 rooms under ownership and management in Florida, with 12 properties around the world.Palm Holdings sought the acquisition because of the hotel's location and access to the numerous developments happening in the area. The company looks to continue to invest and grow its hotel portfolio in the Central Florida market because of the evolution of the area's attractions, such as the construction of a new Universal Orlando water park, Volcano Bay.The Holiday Inn Orlando SW will be the location of the company's Florida corporate office. Palm Holdings also has offices in Toronto and London. In addition, Palm Holdings owns and manages the Inn at Calypso Cay – Lake Buena Vista South, which will open as the new Holiday Inn Express & Suites in fall 2017.The company recently won the InterContinental Hotels Group 2017 Developer of the Year Award for its work on another IHG property, the Holiday Inn Express & Suites Halifax-Bedford. It received the Developer of the Year Award for North America for Marriott Hotels in 2015 and is a winner of numerous other industry awards globally.For more information on Palm Holdings, visit www.palm-holdings.com.For bookings at the Holiday Inn Orlando SW – Celebration Area, visit https://www.ihg.com/ holidayinn/hotels/ us/en/kissimmee/ mco... Palm Holdings is an international hospitality and commercial development company specializing in acquiring, improving and managing hotels across North America and the United Kingdom. The family controlled company offers a wide range of business services including Palm Hospitality, an international hotel management and consultancy company; Palm Construction specializing in capital improvements, new developments and retrofits for hotels; as well as Palm Ventures, an equity services firm dedicated to acquiring and holding hospitality related real estate. Palm Holdings is one of the fastest growing hospitality firms with a portfolio spanning across three countries: the United States, Canada and the United Kingdom. The company builds brand equity through franchise models, management contracts, and outsourcing services with leading companies such as Marriott, IHG, Starwood, Choice Hotels, and many others. It is the winner of the Marriott Developer of the Year Award for North America in 2015 and IHG's Developer of the Year Award in 2017. For more details please go to http://www.palm- holdings.com/ IHG® (InterContinental Hotels Group) is a global organization with a broad portfolio of hotel brands, including InterContinental®Hotels & Resorts, Kimpton® Hotels & Restaurants, HUALUXE® Hotels and Resorts, Crowne Plaza® Hotels & Resorts, Hotel Indigo®, EVEN™ Hotels, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®.IHG franchises, leases, manages or owns more than 5,000 hotels and 744,000 guest rooms in nearly 100 countries, with more than 1,300 hotels in its development pipeline. IHG also manages IHG® Rewards Club, the world's first and largest hotel loyalty program with more than 92 million members worldwide.InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales. More than 350,000 people work across IHG's hotels and corporate offices globally.Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit: www.ihg.com/media and follow us on social media at: www.twitter.com/ihg, www.facebook.com/ihg and www.youtube.com/ihgplc.


SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Colony Starwood Homes (NYSE:SFR) (the “Company”), a leading single-family rental real estate investment trust (“REIT”), today announced that it entered into a purchase agreement (the “Purchase Agreement”) with Waypoint/GI Venture, LLC pursuant to which it will acquire (the “GI Portfolio Acquisition”) a portfolio of 3,106 single-family rental homes that the Company currently manages (the “GI Portfolio”) for approximately $815 million. The GI Portfolio is located entirely within the Company’s existing markets, including Southern California, Northern California, Chicago, Atlanta, Tampa, Phoenix, Miami and Orlando. As of March 31, 2017, the GI Portfolio was 95.8% occupied. “This transaction represents another important growth milestone for Colony Starwood Homes, continuing our focus on increasing scale, enhancing market density and realizing incremental operational efficiencies across our platform,” said Fred Tuomi, the Company’s Chief Executive Officer. “The GI Portfolio Acquisition presents an attractive opportunity for the Company to efficiently convert a large portfolio of homes from managed to wholly owned assets, all within our current market footprint with concentration in the high growth California market.” Pursuant to the Purchase Agreement, the GI Portfolio Acquisition is expected to close in the third quarter of 2017, subject to the satisfaction of various closing conditions. Additional details on the acquisition may be found in the Form 8-K to be filed today with the Securities and Exchange Commission. Colony Starwood Homes is one of the largest publicly traded owners and operators of single-family rental homes in the United States. Colony Starwood Homes acquires, renovates, leases, maintains and manages single-family homes in markets that exhibit favorable demographics and long-term economic trends, as well as strengthening demand for rental properties. This press release contains certain forward-looking statements within the meaning of the federal securities laws that involve significant risks and uncertainties, which are difficult to predict, and are not guarantees of future performance. Such statements can generally be identified by words such as “anticipates,” “expects,” “intends,” “will,” “could,” “believes,” “estimates,” “continue,” and similar expressions. Forward-looking statements are based on certain assumptions and discuss future expectations, describe future plans and strategies and contain financial and operating projections or state other forward-looking information. The Company’s ability to predict results or the actual effect of future events, actions, plans or strategies is inherently uncertain. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company’s actual results and performance could differ materially from those set forth in, or implied by, the forward-looking statements, including statements related to the GI Portfolio Acquisition and its expected benefits. Factors that could materially and adversely affect the Company’s business, financial condition, liquidity, results of operations and prospects, as well as the Company’s ability to make distributions to its shareholders, include, but are not limited to: the factors referenced in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016; unanticipated increases in financing and other costs, including a rise in interest rates; the availability, terms and the Company’s ability to effectively deploy short-term and long-term capital; the possibility that unexpected liabilities may arise from the Company’s merger (the “Merger”) with Colony American Homes (“CAH”), including the outcome of any legal proceedings that have been or may be instituted against the Company, CAH or others in connection with the Merger and the associated transactions; changes in the Company’s business and growth strategies; the Company’s ability to hire and retain highly skilled managerial, investment, financial and operational personnel; volatility in the real estate industry, interest rates and spreads, the debt or equity markets, the economy generally or the rental home market specifically, whether the result of market events or otherwise; events or circumstances that undermine confidence in the financial markets or otherwise have a broad impact on financial markets, such as the sudden instability or collapse of large financial institutions or other significant corporations, terrorist attacks, natural or man-made disasters, or threatened or actual armed conflicts; declines in the value of single-family residential homes, and macroeconomic shifts in demand for, and competition in the supply of, rental homes; the availability of attractive investment opportunities in homes that satisfy the Company’s investment objective and business and growth strategies; the Company’s ability to convert the properties it acquires into rental homes generating attractive returns and to effectively control the timing and costs relating to the renovation and operation of the properties; the Company’s ability to complete its exit from the non-performing loans (and related real estate owned) business in the anticipated time period on acceptable terms and to re-deploy net cash proceeds therefrom; the Company’s ability to lease or re-lease its rental homes to qualified residents on attractive terms or at all; the failure of residents to pay rent when due or otherwise perform their lease obligations; the Company’s ability to effectively manage its portfolio of rental homes; the concentration of credit risks to which the Company is exposed; the rates of default or decreased recovery rates on the Company’s target assets; the adequacy of the Company’s cash reserves and working capital; potential conflicts of interest with Starwood Capital Group Global, L.P., Colony Capital, LLC, Colony NorthStar, Inc. and their affiliates and managed investment activities; the timing of cash flows, if any, from the Company’s investments; the Company’s expected leverage; financial and operating covenants contained in the Company’s credit facilities and securitizations that could restrict its business and investment activities; effects of derivative and hedging transactions; the Company’s ability to maintain effective internal controls as required by the Sarbanes-Oxley Act of 2002 and to comply with other public company regulatory requirements; the Company’s ability to maintain its exemption from registration as an investment company under the Investment Company Act of 1940, as amended; actions and initiatives of the U.S., state and municipal governments and changes to governments’ policies that impact the economy generally and, more specifically, the housing and rental markets; changes in governmental regulations, tax laws (including changes to laws governing the taxation of REITs)) and rates, and similar matters; limitations imposed on the Company’s business and its ability to satisfy complex rules in order for the Company and, if applicable, certain of its subsidiaries to qualify as a REIT for U.S. federal income tax purposes and the ability of certain of the Company’s subsidiaries to qualify as taxable REIT subsidiaries for U.S. federal income tax purposes, and the Company’s ability and the ability of its subsidiaries to operate effectively within the limitations imposed by these rules; and the occurrence of any event, change or other circumstance that would compromise the Company’s ability to complete the GI Portfolio Acquisition in the time frame, on the terms or in the manner currently anticipated. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in the reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. Except as required by law, the Company is under no duty to, and the Company does not intend to, update any of the forward-looking statements appearing herein, whether as a result of new information, future events or otherwise.


SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Colony Starwood Homes (NYSE:SFR) (the “Company”) announced today the pricing of an underwritten public offering of 23,033,187 of its common shares, consisting of 11,600,000 common shares offered by the Company, which was upsized from the previously announced 8,500,000 common shares, for gross proceeds of approximately $406.0 million and 11,433,187 common shares offered by certain selling shareholders (representing all of the remaining common shares of the Company held by Colony NorthStar, Inc. and affiliates of Colony Capital, LLC) for gross proceeds of approximately $400.2 million. The Company has granted the underwriter a 30-day option to purchase up to an additional 3,454,978 common shares from the Company. The Company intends to use the net proceeds to the Company from the offering to fund a portion of its previously-announced pending acquisition of a portfolio of 3,106 single-family rental homes from Waypoint/GI Venture, LLC (the “GI Portfolio Acquisition”), to repay certain of the Company’s existing indebtedness and for general corporate purposes. The Company will not receive any of the proceeds from the sale of its common shares by the selling shareholders. The offering is expected to close on June 9, 2017, subject to customary closing conditions. BofA Merrill Lynch acted as the sole underwriter for the offering. The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission and only by means of a prospectus and prospectus supplement. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. A copy of the final prospectus supplement (when available) and the accompanying prospectus may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, email: dg.prospectus_requests@baml.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Colony Starwood Homes is one of the largest publicly traded owners and operators of single-family rental homes in the United States. Colony Starwood Homes acquires, renovates, leases, maintains and manages single-family homes in markets that exhibit favorable demographics and long-term economic trends, as well as strengthening demand for rental properties. This press release contains certain forward-looking statements within the meaning of the federal securities laws that involve significant risks and uncertainties, which are difficult to predict, and are not guarantees of future performance. Such statements can generally be identified by words such as “anticipates,” “expects,” “intends,” “will,” “could,” “believes,” “estimates,” “continue,” and similar expressions. Forward-looking statements are based on certain assumptions and discuss future expectations, describe future plans and strategies and contain financial and operating projections or state other forward-looking information. The Company’s ability to predict results or the actual effect of future events, actions, plans or strategies is inherently uncertain. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company’s actual results and performance could differ materially from those set forth in, or implied by, the forward-looking statements, including statements related to the GI Portfolio Acquisition. Factors that could materially and adversely affect the Company’s business, financial condition, liquidity, results of operations and prospects, as well as the Company’s ability to make distributions to its shareholders, include, but are not limited to: the factors referenced in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016; unanticipated increases in financing and other costs, including a rise in interest rates; the availability, terms and the Company’s ability to effectively deploy short-term and long-term capital; the possibility that unexpected liabilities may arise from the Company’s merger (the “Merger”) with Colony American Homes (“CAH”), including the outcome of any legal proceedings that have been or may be instituted against the Company, CAH or others in connection with the Merger and the associated transactions; changes in the Company’s business and growth strategies; the Company’s ability to hire and retain highly skilled managerial, investment, financial and operational personnel; volatility in the real estate industry, interest rates and spreads, the debt or equity markets, the economy generally or the rental home market specifically, whether the result of market events or otherwise; events or circumstances that undermine confidence in the financial markets or otherwise have a broad impact on financial markets, such as the sudden instability or collapse of large financial institutions or other significant corporations, terrorist attacks, natural or man-made disasters, or threatened or actual armed conflicts; declines in the value of single-family residential homes, and macroeconomic shifts in demand for, and competition in the supply of, rental homes; the availability of attractive investment opportunities in homes that satisfy the Company’s investment objective and business and growth strategies; the Company’s ability to convert the properties it acquires into rental homes generating attractive returns and to effectively control the timing and costs relating to the renovation and operation of the properties; the Company’s ability to complete its exit from the non-performing loans (and related real estate owned) business in the anticipated time period on acceptable terms and to re-deploy net cash proceeds therefrom; the Company’s ability to lease or re-lease its rental homes to qualified residents on attractive terms or at all; the failure of residents to pay rent when due or otherwise perform their lease obligations; the Company’s ability to effectively manage its portfolio of rental homes; the concentration of credit risks to which the Company is exposed; the rates of default or decreased recovery rates on the Company’s target assets; the adequacy of the Company’s cash reserves and working capital; potential conflicts of interest with Starwood Capital Group Global, L.P., Colony Capital, LLC, Colony NorthStar, Inc. and their affiliates and managed investment activities; the timing of cash flows, if any, from the Company’s investments; the Company’s expected leverage; financial and operating covenants contained in the Company’s credit facilities and securitizations that could restrict its business and investment activities; effects of derivative and hedging transactions; the Company’s ability to maintain effective internal controls as required by the Sarbanes-Oxley Act of 2002 and to comply with other public company regulatory requirements; the Company’s ability to maintain its exemption from registration as an investment company under the Investment Company Act of 1940, as amended; actions and initiatives of the U.S., state and municipal governments and changes to governments’ policies that impact the economy generally and, more specifically, the housing and rental markets; changes in governmental regulations, tax laws (including changes to laws governing the taxation of real estate investment trusts (“REITs”)) and rates, and similar matters; limitations imposed on the Company’s business and its ability to satisfy complex rules in order for the Company and, if applicable, certain of its subsidiaries to qualify as a REIT for U.S. federal income tax purposes and the ability of certain of the Company’s subsidiaries to qualify as taxable REIT subsidiaries for U.S. federal income tax purposes, and the Company’s ability and the ability of its subsidiaries to operate effectively within the limitations imposed by these rules; the occurrence of any event, change or other circumstance that would compromise the Company’s ability to complete the GI Portfolio Acquisition in the time frame, on the terms or in the manner currently anticipated or at all; and whether this proposed offering will be completed and the uses of proceeds from this offering. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in the reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. Except as required by law, the Company is under no duty to, and the Company does not intend to, update any of the forward-looking statements appearing herein, whether as a result of new information, future events or otherwise.


News Article | June 5, 2017
Site: www.businesswire.com

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Colony Starwood Homes (NYSE:SFR) (the “Company”) announced today the commencement of an underwritten public offering of 19,933,187 of its common shares, consisting of 8,500,000 common shares offered by the Company and 11,433,187 common shares offered by certain selling shareholders (representing all of the remaining common shares of the Company held by Colony NorthStar, Inc. and affiliates of Colony Capital, LLC). The Company has granted the underwriter a 30-day option to purchase up to an additional 2,989,978 common shares from the Company. The Company intends to use the net proceeds to the Company from the offering to fund a portion of its previously-announced pending acquisition of a portfolio of 3,106 single-family rental homes from Waypoint/GI Venture, LLC (the “GI Portfolio Acquisition”), to repay certain of the Company’s existing indebtedness and for general corporate purposes. The Company will not receive any of the proceeds from the sale of its common shares by the selling shareholders. BofA Merrill Lynch is acting as the sole underwriter for the offering. The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission and only by means of a prospectus and prospectus supplement. A preliminary prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. A copy of the preliminary prospectus supplement, final prospectus supplement (when available) and the accompanying prospectus may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, email: dg.prospectus_requests@baml.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Colony Starwood Homes is one of the largest publicly traded owners and operators of single-family rental homes in the United States. Colony Starwood Homes acquires, renovates, leases, maintains and manages single-family homes in markets that exhibit favorable demographics and long-term economic trends, as well as strengthening demand for rental properties. This press release contains certain forward-looking statements within the meaning of the federal securities laws that involve significant risks and uncertainties, which are difficult to predict, and are not guarantees of future performance. Such statements can generally be identified by words such as “anticipates,” “expects,” “intends,” “will,” “could,” “believes,” “estimates,” “continue,” and similar expressions. Forward-looking statements are based on certain assumptions and discuss future expectations, describe future plans and strategies and contain financial and operating projections or state other forward-looking information. The Company’s ability to predict results or the actual effect of future events, actions, plans or strategies is inherently uncertain. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company’s actual results and performance could differ materially from those set forth in, or implied by, the forward-looking statements, including statements related to the GI Portfolio Acquisition. Factors that could materially and adversely affect the Company’s business, financial condition, liquidity, results of operations and prospects, as well as the Company’s ability to make distributions to its shareholders, include, but are not limited to: the factors referenced in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016; unanticipated increases in financing and other costs, including a rise in interest rates; the availability, terms and the Company’s ability to effectively deploy short-term and long-term capital; the possibility that unexpected liabilities may arise from the Company’s merger (the “Merger”) with Colony American Homes (“CAH”), including the outcome of any legal proceedings that have been or may be instituted against the Company, CAH or others in connection with the Merger and the associated transactions; changes in the Company’s business and growth strategies; the Company’s ability to hire and retain highly skilled managerial, investment, financial and operational personnel; volatility in the real estate industry, interest rates and spreads, the debt or equity markets, the economy generally or the rental home market specifically, whether the result of market events or otherwise; events or circumstances that undermine confidence in the financial markets or otherwise have a broad impact on financial markets, such as the sudden instability or collapse of large financial institutions or other significant corporations, terrorist attacks, natural or man-made disasters, or threatened or actual armed conflicts; declines in the value of single-family residential homes, and macroeconomic shifts in demand for, and competition in the supply of, rental homes; the availability of attractive investment opportunities in homes that satisfy the Company’s investment objective and business and growth strategies; the Company’s ability to convert the properties it acquires into rental homes generating attractive returns and to effectively control the timing and costs relating to the renovation and operation of the properties; the Company’s ability to complete its exit from the non-performing loans (and related real estate owned) business in the anticipated time period on acceptable terms and to re-deploy net cash proceeds therefrom; the Company’s ability to lease or re-lease its rental homes to qualified residents on attractive terms or at all; the failure of residents to pay rent when due or otherwise perform their lease obligations; the Company’s ability to effectively manage its portfolio of rental homes; the concentration of credit risks to which the Company is exposed; the rates of default or decreased recovery rates on the Company’s target assets; the adequacy of the Company’s cash reserves and working capital; potential conflicts of interest with Starwood Capital Group Global, L.P., Colony Capital, LLC, Colony NorthStar, Inc. and their affiliates and managed investment activities; the timing of cash flows, if any, from the Company’s investments; the Company’s expected leverage; financial and operating covenants contained in the Company’s credit facilities and securitizations that could restrict its business and investment activities; effects of derivative and hedging transactions; the Company’s ability to maintain effective internal controls as required by the Sarbanes-Oxley Act of 2002 and to comply with other public company regulatory requirements; the Company’s ability to maintain its exemption from registration as an investment company under the Investment Company Act of 1940, as amended; actions and initiatives of the U.S., state and municipal governments and changes to governments’ policies that impact the economy generally and, more specifically, the housing and rental markets; changes in governmental regulations, tax laws (including changes to laws governing the taxation of real estate investment trusts (“REITs”)) and rates, and similar matters; limitations imposed on the Company’s business and its ability to satisfy complex rules in order for the Company and, if applicable, certain of its subsidiaries to qualify as a REIT for U.S. federal income tax purposes and the ability of certain of the Company’s subsidiaries to qualify as taxable REIT subsidiaries for U.S. federal income tax purposes, and the Company’s ability and the ability of its subsidiaries to operate effectively within the limitations imposed by these rules; the occurrence of any event, change or other circumstance that would compromise the Company’s ability to complete the GI Portfolio Acquisition in the time frame, on the terms or in the manner currently anticipated or at all; and whether this proposed offering will be completed and the uses of proceeds from this offering. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in the reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. Except as required by law, the Company is under no duty to, and the Company does not intend to, update any of the forward-looking statements appearing herein, whether as a result of new information, future events or otherwise.


BETHESDA, Md., June 1, 2017 /PRNewswire/ -- Beginning today, Starwood Preferred Guest® (SPG®), an award-winning loyalty program that is part of Marriott International, Inc. (NASDAQ: MAR), is launching SPG Mobile Check-In for members at 22 hotels in the United States. More hotels will...

Loading Starwood collaborators
Loading Starwood collaborators