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Este informe no está disponible en español. CARIBBEAN BUSINESSSix Continents May Buy StarwoodBY EVELYN GUADALUPE-FAJARDODecember 13, 2001 Rumor has it that London-based Six Continents, formerly known as Bass PLC, is once again in the buying mode. According to London reports, this time the company is considering making an offer to buy Starwood Hotels & Resorts, possibly after the holidays. "It’s a buyer’s market right now and we, as a company, are in a fortunate position," said Peter Sahora, general manager of the Inter-Continental San Juan Resort & Casino. Sahora was referring to Six Continents having been wise enough to retain some of its profits, which is an advantage since there has never been a better time to acquire hotels. Besides owning Inter-Continental and Holiday Inn, Six Continents is sitting on some $5.7 billion in cash. Most of the money came from last year’s sale of the Bass ale brewing business, a move the company made to concentrate on its hotel business. White Plains, N.Y.-based Starwood owns Sheraton, Westin, W Hotels, St. Regis, Luxury Collection, and Four Points brands. Earlier this year, Six Continents was negotiating to buy Wyndham International Inc. in a deal worth more than $4 billion. The events of Sept 11 are said to have affected the merger. "The recent terrorist attacks have already affected mergers," Richard Cortese, vice president of Wyndham Resorts told CARIBBEAN BUSINESS in an interview (CB Oct. 4). "Nobody knows what anybody's worth anymore and nobody knows what's going to happen to the industry." This Caribbean Business article appears courtesy of Casiano Communications.
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