News in brief: Starwood, Peak, HEI

Starwood board authorizes buyback: The board of Starwood Hotels & Resorts Worldwide Inc. authorized the repurchase of up to US$250 million in stock.

Read more at The Wall Street Journal


Peak to double size of IPO:  Peak Resorts plans to double the size of its initial public offering to bring in an estimated US$103.5 million.



HEI selected for green design initiative:  HEI Hotels & Resorts has been selected by the federal government to participate in the Better Buildings Challenge.

Read more at Yahoo Finance


Lowe buys Chicagoland hotel:  Lowe Enterprises Investors announced on Thursday that it bought the Embassy Suites Chicago – North Shore/Deerfield on behalf of a pension fund client. The hotel wil be operated by Destination Hotels & Resorts under the Embassy Suites brand.

Read more at MarketWatch


London hotels beat rest of UK:  A new STR Global study shows that hotel profitability in London has exceeded levels in the rest of the U.K. over the past 11 years.

Read more at Travel Daily UK


Thailand to crackdown on hotels avoiding taxes:  The Thai government has formed a committee to crack down on unlicensed hotels that are avoiding taxes.

Read more at the Bangkok Post


Hilton partners with Chinese college:  Hilton Worldwide and Les Roches Jin Jiang International Hotel Management College signed an agreement on Thursday to cultivate talent for the Chinese hotel industry.

Read more at Hospitality Net