Business digest

WORLD

U.S. company to build luxury hotel in Bermuda

HAMILTON, Bermuda — A U.S. hotel and leisure company announced plans to build a luxury hotel in Bermuda, where the vital tourism sector has been hit hard by the global economic crisis.

The St. Regis Bermuda, a project of Starwood Hotels & Resorts Worldwide Inc., would be the first major luxury hotel to open in the territory’s seaside capital in more than 50 years. The White Plains, New York-based company expects the high-end hotel to open in downtown Hamilton in 2013.

OHIO

Ohio investors plan passenger-train company

COLUMBUS — A group of investors in Ohio has purchased the assets of a defunct railcar company in hopes of making new passenger trains under President Barack Obama’s plan for expanded rail service.

U.S. Railcar LLC intends to make diesel-fueled passenger cars once produced by Colorado Railcar Manufacturing, a Fort Lupton, Colo.-based company that shut down in December because of financial problems.

The new company is based in Columbus but has yet to identify a manufacturing site. The investors are affiliated with Value Recovery Group Inc., a Columbus firm that helps resolve disputes and financial obligations between debtors and creditors.

Associated Press