Starwood says exec resigns after conflict

3 Apr 2007

LAS VEGAS, Nevada -- Starwood Hotels & Resorts said Monday that Chief Executive Steven Heyer, 54, has resigned after he and the company's board clashed over his management style, surprising analysts who say the company's overall strategy is sound.

The change at the top suggests the company could be sold, given the favorable buyout environment and the sector's strengths, analysts said.

Starwood is a joint-venture partner with Edge Resorts in developing 50 acres on Harmon Avenue behind the Hard Rock Hotel.

The company also holds a 15 percent share in OpBiz, the parent company of the Aladdin.

Representatives for both developments said the announcement shouldn't affect their individual developments.

Starwood Hotels holds no formal business relationship with the private investment company Starwood Capital Group, which is trying to buy the Riviera.

Starwood says exec resigns after conflict is republished from CasinoCityTimes.com.

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	Starwood says exec resigns after conflict 3 Apr 2007 <a href='http://as1.casinocity.com/adclick.php?n=a21efcd1'><img src='http://as1.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt=''></a> LAS VEGAS, Nevada -- Starwood Hotels & Resorts said Monday that Chief Executive Steven Heyer, 54, has resigned after he and the company's board clashed over his management style, surprising analysts who say the company's overall strategy is sound. The change at the top suggests the company could be sold, given the favorable buyout environment and the sector's strengths, analysts said. Starwood is a joint-venture partner with Edge Resorts in developing 50 acres on Harmon Avenue behind the Hard Rock Hotel. The company also holds a 15 percent share in OpBiz, the parent company of the Aladdin. Representatives for both developments said the announcement shouldn't affect their individual developments. Starwood Hotels holds no formal business relationship with the private investment company Starwood Capital Group, which is trying to buy the Riviera. Copyright 2010 GamingWire. All rights reserved. Starwood says exec resigns after conflict is republished from CasinoCityTimes.com.