Hilton Worldwide today announced that it has finalized an agreement with Starwood Hotels & Resorts Worldwide to settle a lawsuit involving the alleged misappropriation of trade secrets.
Under the terms of the settlement, Hilton Worldwide consents to an injunction that includes certain business restrictions for a period of two years. Additional terms of the settlement are confidential.
"Hilton Worldwide regrets the circumstances surrounding the dispute with Starwood Hotels & Resorts Worldwide and is pleased to bring an end to this prolonged litigation," said Christopher J. Nassetta, president and chief executive officer, Hilton Worldwide. "Hilton Worldwide is committed to fair, ethical and robust competition in the marketplace, and we will continue to focus on what we do best – providing exceptional services for all of our guests around the world."
“Hilton Worldwide regrets the circumstances surrounding the dispute with Starwood Hotels & Resorts Worldwide and is pleased to bring an end to this prolonged litigation”