WHITE PLAINS, N.Y., April 2 /PRNewswire/ -- Starwood Hotels & Resorts
Worldwide, Inc. (NYSE: HOT) announced today that the Company's Board of
Directors, at today's regularly scheduled meeting, authorized the repurchase
of up to an additional $500 million of Starwood shares. Current total share
repurchase authorization, when combined with amounts remaining from previous
authorizations, is now approximately $694 million.
Over the last three years the Company has repurchased approximately $941
million of Starwood shares. At March 31, 2001, total Starwood shares
outstanding was approximately 201 million.
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) 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, The Luxury
Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as
Starwood Vacation Ownership, Inc., 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.
SOURCE Starwood Hotels & Resorts Worldwide, Inc.
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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,
914-640-8175
NOTE TO EDITORS: Please contact Starwood's new toll-free media
hotline at 866-4-STAR-PR (866-478-2777) for photography or
additional information.
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