REAL ESTATE
<i> Times Staff and Wire Reports</i>
Aoki May Sell More Hotels: The Japanese company, looking to reduce debt, is considering selling some or all of its 28 remaining hotels after closing its previously announced deal to sell Westin Hotel Co. for $537 million to an investment group led by Goldman, Sachs & Co. and Starwood Capital Group. The sale involves full or partial ownership of 13 hotels in the United States and contracts to manage another 60 worldwide. Aoki Corp. retains nine U.S. and Canadian hotels to be managed by Westin and ownership of the Westin trademark in Asia. Westin will use the name in Asia through a licensing agreement with Aoki. Aoki also retains ownership of hotels in South America, Japan and China. Aoki bought the Westin chain in 1988 for $1.35 billion.
