Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT)
announced today that it intends to offer, subject to market and other conditions, five-year senior
notes through an underwritten public offering.Starwood expects to use the net proceeds from the proposed offering to reduce outstanding
borrowings under its revolving credit facility. Any remaining proceeds will be used for general
Banc of America Securities LLC and J.P. Morgan Securities Inc. are acting as joint bookrunning
managers for this offering.