Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today the appointment of Keith Ferrazzi as Chief Marketing Officer for the major hotel chain. Mr. Ferrazzi joins Starwood from Deloitte Consulting where he led worldwide marketing.
``Starwood needed a seasoned Chief Marketing Officer who would bring fresh perspective to our world renowned brands,`` said Barry S. Sternlicht, chairman & chief executive officer of Starwood. ``Keith has a proven track record in strategic marketing and brand positioning and I`m confident that this experience coupled with his innovative approaches will bring a new energy to the Starwood brands. This critical position has taken us a great deal of time to fill as we needed to blend the skills of an astute marketer with the business skills required to manage an almost $300 million global marketing budget which covers traditional media but also our preferred guest and reservation center functions.
Mr. Ferrazzi, who will report to Juergen Bartels, chief executive officer of Starwood`s Hotel Group, replaces David Van Kalsbeek, who has resigned to pursue other interests.
Prior to joining Starwood, Mr. Ferrazzi was chief marketing officer of Deloitte Consulting, a leading management consulting firm, where he developed and managed the industry`s first globally integrated marketing organization. While at Deloitte Consulting, Mr. Ferrazzi conceived and launched an aggressive, unorthodox—but highly successful-advertising campaign with direct comparisons to competitors, which gained significant media attention. As a result of these and other creative marketing initiatives during Ferrazzi`s tenure, Deloitte Consulting`s low brand recognition in the industry is now second only to McKinsey and Andersen Consulting. His responsibilities included creating and implementing worldwide marketing strategies, managing global market research for strategic and business planning, alliance relationship marketing, corporate positioning, sales and lead generating coordination and all internal and external communications strategies and functions.
``While it was a difficult decision to leave the Deloitte Consulting team with its strong collegial culture, the Company is now firmly positioned as an industry leader, and I have full faith in the marketing organization`s ability to build upon its past successes,`` Mr. Ferrazzi said.
Before joining Deloitte Consulting, Mr. Ferrazzi had his own consulting business focused on service quality in the retail and travel industry and was an early leader in the quality movement. He is a frequent commentator on CNN and CNBC, and has authored a number of pieces for business publications such as the Wall Street Journal and the Harvard Business Review. Mr. Ferrazzi was named a ``Global Leader of Tomorrow`` by the World Economic Forum in 1999 and was a Crain`s Business pick as one of the 40 top business leaders under 40 in 1997. Mr. Ferrazzi earned a BA degree in Economics and Political Science from Yale University and an MBA from Harvard Business School.
``Juergen Bartels has over 40 years of hospitality industry experience that I can learn from, and a level of passion that ignites my own,`` said Mr. Ferrazzi. ``I couldn`t be more excited about the opportunity to work with both he and Barry as they define what their industry will look like in the future.``
Starwood is the world`s largest hotel and gaming company which, through its subsidiaries, operates the Sheraton, Westin, St. Regis, Luxury Collection, Ciga, Four Points by Sheraton, W and Caesars brands. Starwood`s portfolio of owned, managed and franchised hotels and casinos include more than 700 hotels and casinos in 72 countries with over 223,000 rooms.