1997
In September, Starwood Lodging announces an agreement to purchase Westin Hotels & Resorts for $1.8 billion. The following month Starwood Lodging announces an agreement to purchase ITT Sheraton Corporation for $14.3 billion, acting as a white knight against a hostile bid from Hilton. Starwood is set to become a global enterprise. Starwood stock ends the year up by 57.48%.