Starwood Hotels & Resorts Worldwide Inc. and Lehman Brothers Holdings Inc. acquired the senior debt of Le Meriden Hotels & Resorts Ltd for $1.3 billion and have entered into exclusive talks concerning the recapitalization the struggling hotel chain. Negotiations will take place over the next several months says Allison Reid, Starwood spokeswoman. After that, a determination will be made about the next step for London-based Le Meridien and its 120 upscale and resort properties. ...

Register for Complete Access (Valid Email Required)

By registering on MeetingsNet now, you'll not only gain access to Starwood and Lehman Brothers in $1.3 Billion Deal for Le Meridien Chain, you'll get exclusive access to a large archive of premium content.

Already registered? here.