Starwood to Sell Sydney’s Sheraton on the Park Hotel
Starwood hotel manager Sean Hunt told the AFR the Sheraton on the Park sale is in line with the company’s asset-light strategy, “where the company was reducing its investment in owned real estate while expanding its brand presence, mainly through management and franchise agreements.
Last December, Melbourne’s 262-room Westin Hotel sold for $160 million reflecting a yield of 7.5 per cent.
