TOKYO— According to a Reuters report, Starwood Hotels & Resorts Worldwide may spend up to 100 billion yen, or $808.3 million to build hotels and buy existing hotel chains in Japan. Starwood plans to develop about 10 hotels on its own and hopes to operate 50 hotels in Japan in three to five years, according to the report. In other news, Starwood Hotels said it will release the company’s second quarter financial results prior to market open on Thursday, July 26, followed by a conference call at 10:30 a.m. EST. The conference call will include a brief discussion of the quarter followed by questions and answers moderated by Barry Sternlicht, chairman/CEO and Ron Brown, evp/CFO.
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