WHITE PLAINS, N.Y., Apr 25, 2002 (BUSSINESS WIRE)—Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today that following this mornings announcement of stronger than expected first quarter 2002 results, improving demand growth and favorable supply fundamentals over the short and long term, the Company will raise retail pricing 5% at all owned, managed and participating franchised hotels and resorts effective May 1, 2002.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 740 properties in more than 80 countries and 110,000 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 www.starwood.com.
Please contact Starwood`s new, toll-free media hotline at (866) 4-STAR-PR (866-478-2777) for photography or additional information.