WHITE PLAINS, N.Y., Feb. 28 /PRNewswire/ -- Starwood Hotels & Resorts
Worldwide, Inc. (NYSE: HOT) is holding an Institutional Investment Community
Meeting beginning at 8:30am this morning. Speakers at this meeting will
include:
Barry Sternlicht, Chairman and CEO
Bob Cotter, Chief Operating Officer
Ted Darnall, President North America
Ron Brown, Executive Vice President and Chief Financial Officer
Dan Gibson, Senior Vice President Corporate Affairs
A full audio feed of this presentation will be available in simulcast on
the Company's web site (http://www.starwoodhotels.com) in the Investor
Relations section, along with the full set of presentation slides.
Information to be presented at this meeting includes, though may not be
limited to:
-- The introduction of Starwood Technology and Revenue Systems (STARS). A
new organizational structure within Starwood established to focus on
the rapidly changing landscape of distribution and technology.
-- A presentation of Starwood's new state-of-the-art Yield Management
System.
-- Company Financial Targets:
-- EBITDA 8-10% growth per year
-- EPS 15% growth per year
-- 2001 Quarterly EPS guidance
% Increase
Q1 $0.30 15%
Q2 $0.65 16%
Q3 $0.58 16%
Q4 $0.73 14%
-- 2002 guidance
EBITDA estimated to be $1.850 billion
EPS estimated to be $2.60
-- Starwood's energy cost saving strategies, through which the company
expects to save $8.5 million in energy costs in 2001.
-- Industry supply and demand outlooks.
-- Vacation ownership resort development strategies and economics.
Unless otherwise stated throughout the course of the presentation:
-- All references to earnings per share are calculated on a fully diluted
basis.
-- All historical presentation comparisons versus 1999 use pro forma 1999
as though the Caesars Gaming business was sold at the beginning of the
year.
-- All 2001 references and beyond are estimates.
Throughout the course of this presentation many forward looking statements
will have been made in, but not limited to, discussions of future company,
industry and general economic performance. Please see further language
regarding the Company disclaimer of forward looking statements available in
the "Forward Looking Statements" section of this Company's web site, and also
in the Company's Annual Report and Form 10-K. In addition, the forecasts are
based on assumptions (which will be included in the presentation) which should
be considered together with the forecasts.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and
leisure companies in the world with more than 725 properties in 80 countries
and 120,000 employees at its owned and managed properties. With
internationally renowned brands, Starwood is a fully integrated owner,
operator and franchiser of hotels and resorts including: St. Regis(R), The
Luxury Collection(R), Sheraton(R), Westin(R), Four Points by Sheraton(R), W(R)
brands, as well as Starwood Vacation Ownership(SM), one of the premier
developers and operators of high quality vacation interval ownership resorts.
For more information, please visit us at http://www.starwoodhotels.com.
(Note: This release contains certain statements that may be deemed
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are not guarantees of future performance and
involve risks and uncertainties that could cause actual results to differ
materially from historical results or those anticipated at the time the
forward-looking statements are made, including, without limitation, risks and
uncertainties associated with the following: the continued ability of Starwood
Hotels and Resorts (the "Trust") to qualify for taxation as a REIT; Starwood's
ability to attract and retain personnel; identification, completion, terms and
timing of future acquisitions and dispositions; the availability and terms of
capital for acquisitions and for renovations; execution of hotel renovation
and expansion programs; the ability to maintain existing management, franchise
or representation agreements and to obtain new agreements on favorable terms;
competition within the lodging and leisure industry, the cyclicality of the
real estate business and the hotel and leisure business; foreign exchange
fluctuations and exchange control restrictions; general real estate and
national and international economic conditions; political, financial and
economic conditions and uncertainties in countries in which Starwood owns or
operates properties; changes in current laws, rules or regulations of
governmental or other regulatory bodies; and other risks and uncertainties set
forth in the annual, quarterly and current reports and proxy statements of the
Trust and Starwood filed with the Securities Exchange Commission (the "SEC").
Copies of these filings may be obtained by contacting Starwood or the SEC.
Starwood undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events or otherwise.)
Starwood makes no representation whatsoever about the opinion or
statements of any analyst or other third party. Starwood does not monitor or
control the content of third party opinions or statements and does not endorse
or accept any responsibility for the content or the use of any such opinion or
statement.
SOURCE Starwood Hotels & Resorts Worldwide, Inc.
 back to top
Related links:
http://www.starwoodhotels.com
Company News On-Call:
http://www.prnewswire.com/comp/443150.html or fax,
800-758-5804, ext. 443150
CONTACT:
Dan Gibson of Starwood Hotels & Resorts
Worldwide, Inc., 914-640-8175
|
