Starwood Hotels & Resorts Worldwide

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Starwood Hotels & Resorts Worldwide, Inc.

Type Public (NYSE: HOT)

Industry Hotel chains, tourism

1969 as a REIT
Founded
1980 as a corporation[1]

1111 Westchester Ave., White Plains,

Headquarters
New York 10604

Products Temporary residence

Revenue US$5.91 Billion (FY 2008)[2]

Operating
US$638 Million (FY 2008)[2]
income
 Net income US$329 Million (FY 2008)[2]

Total assets US$9.70 Billion (FY 2008)[3]

Total equity US$1.62 Billion (FY 2008)[3]

Employees 145,000

Website www.starwoodhotels.com

Westin Times Square

Starwood Hotels & Resorts Worldwide, Inc. is a hospitality ownership and management
organization, headquartered in White Plains, New York.[4] One of the world's largest hotel
companies, it owns, operates, franchises and manages hotels, resorts, spas, residences, and
vacation ownership properties under its nine owned brands. As of December 31, 2008, Starwood
Hotels & Resorts Worldwide, Inc. owned, managed, or franchised 942 properties employing
over 145,000 people, of whom approximately 36% were employed in the United States.[5]

Contents
[hide]
• 1 History
• 2 Brands
○ 2.1 Sheraton
○ 2.2 The Luxury Collection
 2.2.1 Hybrid Brands
○ 2.3 Westin
○ 2.4 Four Points by Sheraton
 ○ 2.5 St. Regis
○ 2.6 W Hotels
○ 2.7 Le Méridien
○ 2.8 Aloft
○ 2.9 Element by Westin
• 3 Starwood Preferred Guest
○ 3.1 Partnerships
• 4 References
• 5 External links

[edit] History

Starwood headquarters in White Plains

Starwood Hotels and Resorts was originally formed by the real estate investment firm Starwood
Capital to take advantage of a tax break; at the time the company was known as Starwood
Lodging.[6] Initially, Starwood Lodging owned a number of hotels throughout North America, all
under different brand names. The Westin Hotel Company was purchased in 1994 from Aoki
Corporation of Japan. Starwood acquired the Sheraton, Four Points by Sheraton, and The Luxury
Collection brands from ITT Sheraton in 1998.
In 1999, Starwood launched their "W" Hotels brand. In September 2005, Starwood announced
the launch of aloft, a new hotel brand based on W. aloft Hotels catered toward business travelers.
Starwood intends to have 500 aloft hotels worldwide by 2012. In 2005, Starwood purchased the
Le Méridien brand, which greatly increased the company's operations in Europe.
In 2004, Starwood's founder and CEO Barry Sternlicht stepped down as CEO to focus his
attention on his other firm, Starwood Capital. He remained on the Board of Directors until 2005.
He was succeeded as CEO by Steven J. Heyer, and Starwood began selling a number of its
company-owned hotels, instead focusing on becoming a management company and franchiser
for its current and future hotel brands. In April 2007, Steven J. Heyer left the company on the
request of the Board of Directors because of an issue with Heyer's management style and after
allegations of personal misconduct.[7] Chairman of the Board Bruce Duncan served as interim
CEO until September 2007, when the company announced Heyer's successor, Frits van
Paasschen.
[edit] Brands
(The following list of Starwood brands is chronological, according to each brands' launch /
hotel opening)
[edit] Sheraton
Main article: Sheraton Hotels and Resorts
Sheraton is Starwood's 'flagship' brand, providing luxury hotel and resort accommodation.
[edit] The Luxury Collection
The Luxury Collection brand was established when ITT Sheraton purchased the controlling
interests of CIGA (Compagnia Italiana Grandi Alberghi, or Italian Grand Hotels Company), an
Italian hotel chain, in 1994 (ITT Sheraton was to one day itself be purchased by Starwood - see
above).
ITT Sheraton kept CIGA's original logo (the four horses of St. Mark) for The Luxury Collection
brand logo, however as of September 2009, The Luxury Collection no longer uses this logo; each
Luxury Collection hotel now uses its own logo.
Many of The Luxury Collection's hotels and resorts pertain to their location or surroundings and
vary in age and theme; the 552 room Palace Hotel, San Francisco, California USA was the
world's largest hotel, many Luxury Collection hotels were once residencies for European
aristocracy and monarchy, for example, Hotel Imperial in Vienna, Austria was once the
residence of Prince of Württemberg. Notable guests of Hotel Elephant in Weimar, Germany
include Goethe, Liszt, Johan Sebastian Bach and Leo Tolstoy.
[edit] Hybrid Brands
Some Sheraton and Westin hotels and resorts have their branding 'hybridized' with The Luxury
Collection, much to the confusion of many guests. An examples of this would be the Sheraton
Park Tower, London which is a Luxury Collection Hotel (while also containing the Sheraton
name). Asia's ITC Welcomgroup Hotels, Palaces and Resorts top hotels are also Luxury
Collection Hotel (while keeping their distinct ITC name).

Sheraton Poznań
The restoration of the historic Westin Book-Cadillac Hotel (2008) in downtown Detroit.
[edit] Westin
Main article: Westin Hotels
The Westin Hotels and Resorts brand is Starwood's largest upscale hotels and resorts brand,
and it is the oldest brand within Starwood.
Apart from its stylized font, Westin's official logo is seldom used. It is either red or black, which
usually depends on the what the respective text color of "Westin" is.
[edit] Four Points by Sheraton
Main article: Four Points by Sheraton
Four Points by Sheraton was launched in 1995 as a mid-scale hotel brand. Originally the brand
was created by re-naming existing Sheraton "Inns" (a smaller, limited service version of
Sheraton Hotels). The new name avoided the confusion some guests found in having two hotel
categories (full service and mid-scale) with the same name (Sheraton).
[edit] St. Regis
St. Regis is Starwood's main luxury brand. The first St. Regis hotel was built in 1904 in
Manhattan at 5th Ave. and 55th Street by John Jacob Astor IV who had also founded the Astoria
Hotel (which later became the Waldorf-Astoria Hotel) and who had perished in 1912 on the
RMS Titanic. In the 1930s under head bartender Fernand Petiot, America was introduced to the
Bloody Mary cocktail.
St. Regis' first resort property was St. Regis Resort Bora Bora, French Polynesia.
Other St. Regis properties are located in Atlanta, GA, Aspen, CO, Washington, D.C., Dana Pt.
CA, San Francisco, CA, Bali, Pudong, Shanghai,Osaka, Japan and Palma de Mallorca,Balearic
Islands,Spain(formerly Mardavall Hotel & Spa)
[edit] W Hotels
The W Hotel in Washington, D.C. is located in the former Hotel Washington, built in 1918 to the
designs of architectural firm Carrère and Hastings. The building is listed on the National Register
of Historic Places.
W Hotels is Starwood's luxury boutique hotel brand. The hotel brand, which generally markets
towards a younger crowd, was launched in 1998 with its first property, W New York, at 541
Lexington Avenue in Manhattan. The brand has expanded internationally with properties
opening first in Mexico City, Seoul, and Istanbul.[8][not in citation given] The brand's first resort property
is W Maldives Retreat & Spa.
The W Barcelona hotel was the W's first in Western Europe and opened in October 2009. It
features a futuristic design by architect Ricardo Bofill in the shape of a sail. Standing 26 stories
tall, it can be seen from all over the city. The property is located next to the beach and boasts
private access to it. It also includes a Bliss spa, gym and conference facilities.[9]
A new W Hotel was opened in early 2010 in Hollywood, CA with a Vegas-style nightclub called
Drais designed by Victor Drai, followed by the opening of their fourth hotel in New York City's
Downtown District in August. The W plans to double its number of properties by 2011 with
hotels planned in Austin, Texas (2010); Taipei, Taiwan (2010); Marrakech, Morocco (2011);
Guangzhou, China (2011); Bangkok, Thailand (2011); Paris, France (2011); Athens, Greece
(2011); St. Petersburg, Russia (2011); and London, England (2011). Retreat & spa properties are
planned in Bali, Indonesia (2010) and Koh Samui, Thailand (2010). Future hotel properties in
Singapore (2012), Milan, Italy (2012); Amman, Jordan (2012); Abu Dhabi, UAE (2012); Santa
Fe, Mexico (2013); and Cairo, Egypt (2016) have been planned as well as a retreat & spa
property in Riviera Maya, Mexico (2014). Starwood is planning the W Hotel's first ski retreat in
Verbier, Switzerland (2012), bringing the total number of W Hotels to 55.[10]
In 2005, the W announced plans to open its first condo-hotel in Las Vegas, Nevada as a joint
venture between Edge Group and Starwood Resorts. The project was cancelled in May 2007 due
to rising construction costs and Starwood's subsequent pull-out from the venture.[11] The W Hotel
announced plans to open a property in Dubai's Festival City by 2008. However, due to the
economic crisis hitting Dubai's hospitality industry, the W Hotel cancelled the project in July
2009.[12]
[edit] Le Méridien
Main article: Le Méridien
Le Méridien is a French-founded hotel brand formerly headquartered in the United Kingdom,
with 130 properties worldwide. Le Méridien was initially owned by Air France and its first
property was Le Méridien Etoile in France. The brand was acquired by Starwood Hotels and
Resorts Worldwide in 2006.
[edit] Aloft
Main article: Aloft Hotels
Aloft is a mid-scale, urban-style business / boutique hotel brand. The brand was launched in
2005 as a 'vision of W Hotels', a relationship similar to Four Points by Sheraton and its 'brand
parent', Sheraton. It has been criticized for being too slick and formulaic.[13]
[edit] Element by Westin
Announced in 2006, this is Starwood's first brand of hotels intended to be environmentally
friendly. The designs include energy and water efficient features.[14] The first Element hotel
opened in Lexington, Massachusetts in July 2008.[15] As of April 2010, there are seven Element
hotels in operation in Denver (Park Meadows), Las Vegas (Summerlin), Houston (Vintage Park),
Dallas (DFW Airport), Ewing NJ, Lexington, and Arundel Mills (BWI Airport). Two Element
hotels are scheduled to open within the next year, in New York City and Omaha, Nebraska.
Element hotels are built eco-friendly from the ground up, from the floors made of recycled
materials to energy-efficient lighting and plumbing fixtures.
[edit] Starwood Preferred Guest
[edit] Partnerships
It has a credit card partnerships with American Express (MBNA Canada Bank partnership
replaced by American Express in 2010). Starwood Preferred Guest also has a partnership with 32
affiliated airlines allowing guests to redeem their points for flights under the "SPG Flights"
program.[16] According to Starwood Hotels & Resorts' corporate profile, the SPG program has
over 41 million members.[5]
StarPoints
StarPoints can be used by Starwood Preferred Guest Members(SPG) to redeem free nights at
Starwood's hotel properties. In addition, they can be used for merchandise with their partners
such as GAP, Westin at Home, Nordstrom and more.
Member Tiers/Levels
There are 3 main levels of Starwood Preferred Guest. First, there is the basic level, preferred.
Next, there is gold level. Lastly, there is Platinum Level. Each level has better perks. They can be
found on the SPG Website In addition to obtaining these statuses through hotel nights, all
Starwood Vacation Ownership owners are automatically enrolled into the Gold Starwood
Preferred Guest Program. Some owners of several weeks(5* Elite Owners)are enrolled into the
Platinum Starwood Preferred Guest program.
[edit] References
1. ^ "Form 10-Q". p. 7. http://phx.corporate-ir.net/phoenix.zhtml?c=78669&p=irol-
SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9y
ZXBvPXRlbmsmaXBhZ2U9NTI2NTQ3MSZhdHRhY2g9T04%3d. Retrieved 2007-11-12.
2. ^ a b c Starwood Hotels & Resorts (HOT) annual SEC income statement filing via Wikinvest
3. ^ a b Starwood Hotels & Resorts (HOT) annual SEC balance sheet filing via Wikinvest
4. ^ "Contact Us." Starwood Hotels & Resorts Worldwide. Retrieved on June 27, 2010.
5. ^ a b [1]
 6. ^ Celarier, Michelle (February 1998). "The trouble with REITs - real estate investment trusts"
([dead link] – Scholar search). CFO: Magazine for Senior Financial Executives. OCLC 42457969.
ISSN 8756-7113.
http://www.findarticles.com/p/articles/mi_m3870/is_n2_v14/ai_20390092/pg_1. Retrieved 2007-
05-11.
7. ^ Sanders, Peter; Joann S. Lublin (2007-04-07). "Starwood CEO's Ouster Followed Battle with
Board Over His Conduct". The Wall Street Journal. ISSN 0099-9660 OCLC 4299067.
http://setup2.wsj.com/article/SB117590473824562740-
C0wVg0bk4S0bRYE9gZwoaGPzsK0_20080429.html?mod=crnews. Retrieved 2007-05-11.
8. ^ Starwood Preferred Guest Hotel Directory
9. ^ "Ricardo Bofill, Taller de Arquitectura, W Barcelona Hotel, Barcelona, Spain", arcspace,
October 26, 2009
10.^ [2]
11.^ [3]
12.^ Staff writers (July 1, 2009). "W Hotel at Festival City cancelled". Dubai Moves.
http://www.dubaimoves.com/1276/w-hotel-festival-city-cancelled/. Retrieved 19 September
2010.
13.^ Mary Louise Schumacher (Jan 12, 2010). "The adrift Aloft Hotel". Milwaukee Journal Sentinel.
http://www.jsonline.com/blogs/entertainment/81253377.html.
14.^ "ELEMENT Lexington opens its doors". TTG MENA.
http://www.ttgmena.com/Articles/tabid/57/articleType/ArticleView/articleId/60/ELEMENT-
Lexington-opens-its-doors.aspx. Retrieved 4 January 2009. [dead link]
15.^ "Opening Day of ELEMENT Lexington Marks the World Premiere of Starwood Hotels'
Newest...". Press release. 2008-07-01.
http://www.reuters.com/article/pressRelease/idUS109353+01-Jul-2008+BW20080701. Retrieved
4 January 2009.
16.^ SPG Flights

[edit] External links

Wikimedia Commons has media related to: Starwood hotels
• Starwood Hotels & Resorts Worldwide official website
[hide]
v•d•e
Starwood Hotels & Resorts Worldwide

Aloft Hotels • Element by Westin • Four Points • Le Méridien • The Luxury Collection •
Sheraton • St. Regis • W • W Barcelona • Westin Hotels
Retrieved from "http://en.wikipedia.org/wiki/Starwood_Hotels_%26_Resorts_Worldwide"
Categories: Companies listed on the New York Stock Exchange | Companies established in 1930
| Hospitality companies of the United States | Companies based in White Plains, New York |
Open Travel Alliance | Starwood Hotels & Resorts Worldwide
Hidden categories: All articles with dead external links | Articles with dead external links from
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references from September 2009 | Wikipedia articles in need of updating from October 2010 |
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