Starwood Announces New Midprice Hotel Chain

Boardroom-size meeting space is in the plans for Starwood's new midprice hotel brand. The 90- to 180-room hotels will have one or two 650-square-foot spaces, according to Starwood officials, who say the new chain will stand out for its urban style.

Starwood has temporarily dubbed the new chain Project XYZ, making reference to its successful W hotel brand, which XYZ hopes to replicate at a lower price point. The first XYZ hotels are expected to open in 2007.