Host Marriott Buys 28 Starwood Hotels

Host Marriott Corp. (HMT) completed its acquisition of the first 28 of 35 hotels that it agreed to purchase from Starwood Hotels & Resorts Worldwide Inc. (HOT). On April 17, Host Marriott's name will become Host Hotels & Resort Inc. and the company will begin trading under the new ticker symbol HST on the New York Stock Exchange. Shares of Starwood plunged $13.44 to close at $54.64 while Host Marriott stock edged up 15 cents to close at $20.68.