Starwood Hotels' Stock Surges As Company Looks To Boost Shareholder Value

MarketWatch Pulse

Starwood Hotels & Resorts Worldwide Inc.'s stock ran up 7.7% in active, premarket trade Wednesday, after the hotel operator said it will explore strategic and financial measures to increase shareholder value. The company said it retained Lazard to help it determine the best course. "Our Board has always been focused on maximizing long-term shareholder value, and this is a time of enormous opportunity and change in our industry," said Chairman Bruce Duncan. "No option is off the table, and we will take the time we need to thoroughly evaluate our opportunities and achieve the best result for our shareholders, business partners, and associates." The stock has lost 0.3% year to date through Tuesday, compared with a 2.7% gain in the S&P 500.

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