Over recent months Starwood Resorst and Hotels Worldwide Inc. has announced the need to sell several several of its hotel properties. In early November, Starwood sold the Turnberry Resort in Scotland for approximately $100 million to the Dubai-based Leisurecorp, who then entered into a 30 year management agreement. The sale of their properties will be married to long term management agreements in which Starwood would sell the bricks, but keep the brains.
The St. Regis in Aspen is among the properties to hit the chopping block. If the St. Regis sells, guests and residential owners will not likely see any change in the hotel and day to day operations as Starwood will still manage the property.
Few comparable properties have been sold in Aspen, therefore the listing price is yet to be determined, and will most likely not be public information.