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Starwood Hotels and Resorts Worldwide, Inc. |
1111 Westchester Avenue
White Plains, NY 10604 |
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Company Description |
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Starwood is one of the world's largest hotel and leisure companies. The Company conducts its hotel and leisure business both directly and through its subsidiaries. The Company's brand names include Sheraton, Westin, The Luxury Collection, St. Regis, W and Four Points by Sheraton. Through these brands, Starwood is well represented in most major markets around the world.
The Company's revenue and earnings are derived primarily from hotel and leisure operations, which include the operation of the Company's owned hotels; management fees earned from hotels the Company manages pursuant to long-term management contracts; the receipt of franchise fees; and the development, ownership and operation of vacation ownership resorts, marketing and selling VOIs in the resorts and providing financing to customers who purchase such interests.
The Company's hotel and leisure business emphasizes the global operation of hotels and resorts primarily in the luxury and upscale segment of the lodging industry. Starwood seeks to acquire interests in or management rights with respect to properties in this segment. Additionally, the Company is currently selling VOI inventory at 12 resorts.
At December 31, 2000, the Company's portfolio of owned, managed and franchised hotels totaled 738 hotels with approximately 227,000 rooms in 80 countries. This portfolio is comprised of 162 hotels that Starwood owns or leases or in which Starwood has a majority equity interest (substantially all of which hotels Starwood also manages), 263 hotels managed by Starwood on behalf of third-party owners (including entities in which Starwood has a minority equity interest) and 313 hotels for which Starwood receives franchise fees.
Starwood believes that it has strong brand leadership in major markets worldwide based on the global recognition of the Company's lodging brands. The strength of the Company's brands is evidenced, in part, by the superior ratings received from the Company's hotel guests and from industry publications. For example, Starwood was designated as the "World's Best Global Hotel Company" by Global Finance magazine in their September 2000 issue. Also, for the second year in a row, Westin was named number one in the upper-upscale category of Business Travel News' 2000 Survey of Top Hotel Chains. With the Company's well-known lodging brands, Starwood benefits from a luxury and upscale branding strategy that provides strong operating performance from new customer penetration and customer loyalty. During 2000 and 1999, Starwood converted five and six, respectively, of its owned hotels, which had been operated on a non-branded or non-proprietary-branded basis, to proprietary brands owned by the Company. These conversions have enhanced and expanded the Company's global presence and brand recognition. In 2000, the Company also added an additional 76 hotels with approximately 17,981 rooms to its branded hotel system. In total, approximately 1,327 rooms were added to its newest brand, W. The W San Francisco recently won Hospitality Design Magazine's 2000 Gold Key Award as best in the "Lobby/Reception" category and was a finalist in the "Guestroom" category.
The Company's luxury and upscale hotel and resort assets are well positioned in North America, Europe, Asia, Latin America and Africa. These assets are primarily located in major cities and resort areas that management believes have historically demonstrated a strong breadth, depth and growing demand for luxury and upscale hotels and resorts, in which the supply of sites suitable for hotel development has been limited and in which development of such sites is relatively expensive.
Starwood controls a distinguished and diversified group of hotel properties throughout the world, including The St. Regis in New York, New York; The Phoenician in Scottsdale, Arizona; the Hotel Danieli in Venice, Italy; and the Westin Palace in Madrid, Spain. These are among the leading hotels in the industry and are at the forefront of providing the highest quality and service. The Condé Nast Traveler Magazine 2000 Gold List Readers' Choice Poll included 33 Starwood properties as part of the top 462 places to stay in the world. Starwood owns or manages more Gold List winners than any other hotel company in the world. |
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Company Statistics |
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Property Portfolio |
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| Types of properties we operate |
Hotel, Resort, All Suite, Extended Stay, Casino, Conference Center |
| Types of locations |
Airports, Resorts, Major Cities, Small Cities, Suburban, Small Towns |
| Franchise affiliations | Sheraton®, Westin®, The Luxury Collection®, St. Regis®, W® and Four Points® by Sheraton
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| Properties are located in |
Alabama, Alaska, Alberta, Arizona, British Columbia, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Manitoba, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Nova Scotia, Ohio, Oklahoma, Ontario, Oregon, Pennsylvania, Quebec, Rhode Island, Saskatchewan, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Located in 80 countries worldwide.
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- We operate a total of 738 properties.
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Company Characteristics |
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| Capital Allocation | The company annually allocates capital dollars to those properties that need capital. |
| Accounting | Decentralized. |
| Reporting Requirements | We provide properties a reasonable degree of autonomy while providing overall leadership and direction. (Less than 10 hours of reporting requirements per month.) |
- The company is very sound financially.
- We are adding additional properties to the portfolio every year.
- We have a strong track record of promoting people based on performance, results, and willingness to relocate.
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