Originally Posted by
MSPeconomist
They why the word "acquisition" in the OP? To me, that has connotations of purchase or something similar.
I agree that "acquisition" does not have the meaning it would in a financial setting. "Addition" is how Starwood described the transaction. Here is an excerpt from the original Starwood press release dated 11/9/15:
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced its single largest addition of hotel rooms in North America since pre-recession with the signing of SLS Las Vegas on the world-famous Las Vegas Strip and Sahara Boulevard. Owned by Las Vegas Resort Holdings, LLC, the three distinct hotel towers, encompassing more than 1,600 guestrooms and suites, will be branded by the end of this year under Starwood’s recently launched Tribute Portfolio, while the 289-room “LUX Tower” will be converted to a W Hotel upon completion of a renovation in 2016.
As you can see from the press release, the property is owned by Las Vegas Resort Holdings, LLC.