WHITE PLAINS, N.Y., Oct. 2 /PRNewswire/ -- Starwood Hotels & Resorts
Worldwide, Inc. (NYSE: HOT) has been designated as the "World's Best Global
Hotel Company" by Global Finance magazine, as reported in the September issue.
As a relatively new company, this is Starwood's first distinction in the
publication's annual survey which recognizes 25 global companies that are
standout leaders in their respective market segments.
"We are honored to accept this award and to be included among some of the
finest companies in the world. Further, we are grateful and proud of our
120,000 associates worldwide," remarked Barry S. Sternlicht, chairman and CEO
for Starwood. "Starwood emerged from three heritage companies and this award
recognizes the progress we have made and our global operations in 80
countries," he continued.
In its annual survey, Global Finance evaluates and recognizes companies
for a myriad of attributes including: rate of business growth during the past
year; profitability; technological or product breakthrough; success with
mergers and acquisitions; and sheer aggressiveness in building market share,
among other factors.
The survey cites Starwood for its accelerated global expansion, including
the finalization of 116 hotel contracts in 1999 representing 30,000 guest
rooms, in addition to the integration of its vacation ownership subsidiary,
Vistana, which was acquired in October 1999 and is now renamed Starwood
Vacation Ownership. Starwood also received recognition for its ability to
attain the most revenue out of available guest rooms, measured in terms of
RevPAR (revenue per available room). For the six months ending June 30, 2000,
total revenues increased 18% from the same period of 1999.
This distinction honors Starwood alongside other global powerhouse
companies including General Electric, Cisco Systems, Pfizer and Nokia.
Starwood 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 and 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.starwoodlodging.com
http://www.starwoodhotels.com
Company News On-Call:
http://www.prnewswire.com/comp/443150.html or fax,
800-758-5804, ext. 443150
CONTACT:
Katie Meyer of Starwood Hotels & Resorts
Worldwide, Inc., 914-640-8247, katie.meyer@starwoodhotels.com
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