Hilton and Starwood Hotels settled a lawsuit alleging Hilton used stolen documents about Starwood's W brand to speed the development of a boutique brand of its own.
Under the terms of the settlement, Hilton agreed to stay out of the boutique hotel market until January 2013, an independent monitor would ensure that Hilton returns any stolen documents to Starwood, and Hilton will pay Starwood $75 million, the Los Angeles Times reports.
Hilton said it agreed to an injunction that provides restrictions on its business activities for two years.
"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."
Starwood sued Hilton in 2009, alleging that Hilton hired former Starwood executives who stole Starwood documents pertaining to its development of W Hotels.