REAL ESTATE
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Local Realty Trust to Merge: Starwood Capital Group of Westport, Conn., said it has agreed to trade an unspecified number of its hotels for controlling stakes in Los Angeles-based Hotel Investors Trust and its affiliate, Hotel Investors Corp. The real estate investment trust will be renamed Starwood Lodging Trust, and Hotel Investors Corp. will be renamed Starwood Lodging Corp. The new companies, which will remain based in Los Angeles, will have interests in 47 hotels across the country, including two small casino hotels in Las Vegas.
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