Word: sheraton
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Dates: during 1990-1999
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About 200 people attended orthodox services held at the Sheraton Commander Hotel yesterday...
Dvide and remain unconquered. ITT Corp.'s twist on a classic strategy is sure to repel Hilton Corp., which made a $6.5 billion offer for the owner of Sheraton hotels and Caesar's casinos earlier this year. For the second time in two years, ITT is slicing itself into three separate, publicly traded companies. The parts will be ITT Destinations, a hospitality and gaming company; ITT Corp., publisher of overseas Yellow Pages directories; and ITT Educational Services, a group of technical schools...
...wars who knows the value of a tactical retreat. He has fought off corporate raiders who sought to break up his company, as well as investors critical of ITT's performance and his high salary. So when Hilton Hotels Corp. offered $6.5 billion to buy ITT, which owns the Sheraton hotel chain and Caesars World casinos, Araskog manned the ramparts again. To raise cash and buttress the company's stock price, he sold once prized but now indefensible properties like ITT's 50% stake in Madison Square Garden. Classic Araskog hardball...
...nonessential holdings--including one of its two corporate jets--and laid off 125 people at its New York City headquarters, ITT is now stripping away promising casinos and profitable hotels, the very heart of the svelte new company that Araskog says he wants to create. Recently ITT sold five Sheraton hotels for $200 million, without competitive bidding, to FelCor Suite Hotels, the largest owner of the Embassy Suite hotels. Then it quietly put the luxe St. Regis hotel, off Manhattan's Fifth Avenue, on the block, even though New York hoteliers stand to rake in profits for years. "ITT management...
...Ritz-Carlton Hotel in Arlington, Va., and Suite 521 at the Regency Hotel in New York have something in common besides king-size beds and minibars: notoriety for two of the most respected names in sports broadcasting. Last Thursday, at a packed news conference in yet another hotel, the Sheraton New York, Albert said, "I would like to reassert my innocence and reiterate that all the charges against me are false." He then vowed to continue working the N.B.A. play-offs for NBC. In attendance were his four children, one of whom is also a sportscaster (New York Rangers play...