Starwood Hotels & Resorts Worldwide, Inc. operates as a hotel and leisure company worldwide. The company has 1,175 properties providing approximately 346,800 rooms in approximately 100 countries. It conducts its hotel and leisure business both directly and through its subsidiaries. The company also owns Starwood Vacation Ownership, Inc., a provider of vacation experiences through villa-style resorts and privileged access to Starwood brands. The company manages and operates its hotel business in three separate hotel segments: the Americas; Europe, Africa and the Middle East; and the Asia Pacific. As of December 31, 2013, the company’s hotel business included 1,161 owned, managed, or franchised hotels with approximately 339,200 rooms, comprising 47 hotels (that it owns or leases or in which the company has a majority equity interest, 563 hotels (with approximately 189,900 rooms) managed by the company on behalf of third-party owners (including entities in which it has a minority equity interest) and 551 hotels for which it receives franchise fees. Additionally, the company’s vacation ownership and residential business included 14 vacation ownership resorts and residential properties. The company franchises its Luxury Collection, Westin, Le Méridien, Sheraton, Four Points by Sheraton, Aloft, and Element brands. As of December 31, 2013, there were 551 franchised properties with approximately 133,400 rooms. The company develops, owns, and operates vacation ownership resorts, markets and sells the VOIs in the resorts, and in various cases, provides financing to customers who purchase such ownership interests. As of December 31, 2013, the company had 22 owned vacation ownership resorts in the United States, Mexico and the Bahamas, consisting of 13 stand-alone, 8 mixed-use, and 1 unconsolidated joint venture. Brands St. Regis brand includes luxury full-service hotels, resorts, and residences. The Luxury Collection brand includes luxury full-service hotels and resorts. W brand includes luxury and upper upscale full-service hotels, retreats, and residences. Westin brand includes luxury and upper upscale full-service hotels, resorts and residences. Le Méridien brand includes luxury and upper upscale full-service hotels, resorts and residences. Sheraton brand includes luxury and upper upscale full-service hotels, resorts and residences. Four Points brand includes select-service hotels. Aloft brand includes select-service hotels. Element brand includes extended stay hotels. Seasonality The hotel industry is seasonal in nature, however, the periods during which the company’s properties experience higher revenues vary from property to property and depend principally upon location. Its revenues and operating income have been lower in the first quarter (year ending December 2013) than in the second, third or fourth quarters. Significant Events In April 2014, Starwood Hotels & Resorts Worldwide Inc. announced the opening of The Westin Wilmington, a newly constructed hotel at the heart of the city's revitalized Riverfront district. Owned by a joint venture between The Buccini/Pollin Group and Westport Capital, and managed by PM Hospitality Strategies Inc. History Starwood Hotels & Resorts Worldwide, Inc. was founded in 1969. The company was incorporated in 1980 under the laws of Maryland.
starwood hotels & resorts
Stamford, CT 06902
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