Hilton Settles Suit With Starwood

Reuters:

Hotel operator Hilton Worldwide on Thursday said it agreed to certain business restrictions for two years as part of a settlement of a lawsuit concerning misappropriation of trade secrets from Starwood Hotels & Resorts Worldwide (HOT.N).

“Hilton Worldwide regrets the circumstances surrounding the dispute with Starwood Hotels & Resorts Worldwide and is pleased to bring an end to this prolonged litigation,” Hilton Chief Executive Officer Christopher Nassetta said in a statement.

Several Starwood spokespeople were not available for comment.