WHITE PLAINS, N.Y., Aug. 3 /PRNewswire/ --
Starwood Hotels & Resorts Worldwide, Inc. (the "Company") (NYSE: HOT)
announced today that Starwood Hotels & Resorts (the "Trust"), a subsidiary of
the Company whose shares are traded together with the Company's shares, has
declared its regular quarterly dividend of $0.20 per share for the Company's
third quarter ending September 30, 2001. The dividend will be payable on
October 19, 2001 to shareholders of record on September 30, 2001 and
represents a 16% increase over the amount paid in the third quarter of 2000.
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(R) by Sheraton, W(R)
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.
(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 the
Trust to qualify for taxation as a REIT; Starwood's ability to attract and
retain personnel; completion, terms and timing of future acquisitions and
dispositions; the availability 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
industry and from emerging technologies, the cyclicality of the real estate
business; and the hotel 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 property or operates; and
the other risks and uncertainties set forth in the annual, quarterly and
current reports and proxy statements of the Trust and Starwood. Starwood
undertakes no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.)
SOURCE Starwood Hotels & Resorts Worldwide, Inc.
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Related links:
http://www.starwoodhotels.com
http://www.starwoodlodging.com
Company News On-Call:
http://www.prnewswire.com/comp/443150.html
CONTACT:
Dan Gibson for Starwood Hotels & Resorts
Worldwide, Inc., 914-640-8175
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