Analyst: Asset Sales On Track At Starwood Hotels & Resorts Worldwide Inc

With the $400 million sale of its Phoenician hotel in Arizona, Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT) is on track to lower its deb ratio, an analyst said Tuesday.Star, based in Stamford, Connecticut, is in the midst of a review of its strategic options, and traded recently at $82.32, off $0.38 cents.Deutsche Bank's Chris Woronka maintained a Buy rating and $98 target on Starwood Tuesday, noting it's now "ahead of pace" on its goal to sell $800 million in assets during 2015.Starwood has said it will shift its focus to hotel management, from franchising in a strategy announced in 2013 calling for the sale of $3 billion in assets.http://www.bloomberg.com/news/articles/2013-04-04/starwood-to-sell-as-much-as-3-billion-worth-of-hotelsStarwood on Monday agreed to sell the Scottsdale, Arizona resort to Host Hotels & Resorts (NYSE: HST).https://starwood.q4web.com/investor-relations/news/news-release-details/2015/Starwood-Hotels--Resorts-Sells-The-Phoenician-A-Luxury-Collection-Resort-Scottsdale/default.aspxWoronka estimated the Arizona property contributed net revenue last year of $120 million to Starwood's total of $5.98 billion.The Phonecian deal comes hard on the heels of Star's agreement last month to sell a nearly 500-year-old property in Venice, Italy, called Gritti Palace, for $117 million to a unit of the privately held Qatar conglomerate Jaidah Holdings.Starwood will continue to manage both the recently sold properties.Starwood hired and investment bank to study strategic options April 29. "No option is off the table," Chairman Bruce W. Duncan said at the time.https://starwood.q4web.com/files/doc_financials/quarterly/2015/Strategic-Alternatives-Press-Release-FINAL_v001_w4p799.pdf