SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 26, 2000
WESTIN HOTELS LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation or organization)
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0-15097 |
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91-1328985 |
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(Commission File Number) |
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(IRS Employer Identification No.) |
777 Westchester Avenue
White Plains, New York 10604
(Address of principal executive offices, including zip code)
1-800-323-5888
(Registrant’s telephone number, including area code)
Item 2. Acquisition or Disposition of Assets
On April 26, 2000, we completed the sale of The Westin St.
Francis in San Francisco to BRE/ St. Francis L.L.C. of New
York, an affiliate of The Blackstone Group, for $243 million. We
used approximately $159 million of the proceeds to repay debt and
deferred management fees related to the hotel and to pay costs
and expenses related to the sale. Of this amount, we paid a total
of approximately $55 million to Westin Realty Corp., the sole
general partner of Westin Hotels Limited Partnership, and its
affiliate, Starwood Hotels and Resorts Worldwide, Inc., the hotel
manager. In addition, the long-term management agreement was
assigned to the new owner and the hotel will continue to be
managed by Starwood under the Westin brand.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits
(a) Not applicable.
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(b) |
Pro Forma Financial Information — To be filed by
amendment not later than July 10, 2000. |
(c) Exhibits.
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(10.1) |
Purchase and Sale Agreement dated as of January 18, 2000 by
and between The Westin St. Francis Limited Partnership and
BRE/St. Francis L.L.C. Incorporated by reference to Exhibit 10.1
of the registrant’s Current Report on Form 8-K filed on
February 2, 2000. |
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(99.1) |
Press Release dated April 27, 2000, issued by Starwood
Hotels & Resorts Worldwide, Inc. to announce the completion
of the sale of The Westin St. Francis Hotel. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Dated: May 11, 2000
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WESTIN HOTELS LIMITED PARTNERSHIP |
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Alan M. Schnaid |
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Vice President |
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Exhibit Index
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(10.1) |
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Purchase and Sale Agreement dated as of January 18, 2000 by
and between The Westin St. Francis Limited Partnership and
BRE/St. Francis L.L.C. Incorporated by reference to
Exhibit 10.1 of the registrant’s Current Report on
Form 8-K filed on February 2, 2000. |
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(99.1) |
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Press Release dated April 27, 2000, issued by Starwood
Hotels & Resorts Worldwide, Inc. to announce the completion
of the sale of The Westin St. Francis Hotel. |
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