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Starwood denies interest in Prime Hospitality

Thursday, April 8, 1999 | 11:35 a.m.

The hotel real-estate investment trust this year is concentrating on integrating two acquisitions -- the former ITT Corp. and Westin Hotels & Resorts -- made last year, a spokesman said. "Our focus in 1999 is to make the most of those acquisitions."

The ITT deal included the Desert Inn and Caesars hotel-casino operations, which Starwood would like to sell.

On Tuesday, Prime Hospitality's stock jumped 8 percent, which market observers attributed to renewed speculation that the Fairfield, N.J., hotel operator was a takeover target. Starwood and Marriott International Inc. were mentioned as possible suitors.

A Marriott spokesman declined comment.

An $813 million buyout offer received by Sunstone Hotel Investors Inc. late Monday from a management-led investor group also had some analysts predicting possible acquisition offers for other hotel companies, including Prime Hospitality.

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