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Starwood Hotels & Resorts Worldwide, Inc (347 words) |
 | Starwood considered HOT to be a unique investment opportunity because the REIT benefited from a “paired share” arrangement, in which shares in the REIT were paired with shares in the hotel operating company, Hotel Investors Corporation. |
| In September 1997, Starwood Hotels announced the acquisition of Westin Hotels and Resorts, and in November 1997, Starwood Hotels announced the acquisition of ITT Corporation. |
| Starwood Hotels is among the largest owners and operators of hotels in the world, operating and/or franchising some 700 hotel properties in over 80 countries. |
| Starwood Hotels (1358 words) |
| The Company's revenue is derived primarily from hotel operations, which include the operation of the Company's owned hotels, the operation of other hotels that are managed by Starwood Hotels and the receipt of franchise fees. |
| Starwood controls a distinguished and diversified group of hotel properties throughout the world, including The St. Regis in New York, New York; The Phoenician in Scottsdale, Arizona; the Hotel Danieli in Venice, Italy; and the Palace Hotel in Madrid, Spain. |
| Starwood also may selectively choose to develop and construct desirable hotel properties to help the Company meet it strategic goals, such as the development of the W hotels in San Francisco, California and Seattle, Washington which opened in May 1999 and September 1999, respectively. |
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