Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today that it has declared a dividend of $0.1725 per share for the Company`s first quarter ending March 31, 2000. The $0.1725 per share dividend reflects a 15% increase over the previous dividend rate. The dividend will be payable on April 21, 2000 to shareholders of record on March 31, 2000.
Starwood, through its subsidiaries, owns, manages and franchises hotels under its St. Regis, The Luxury Collection, Westin, Sheraton, Four Points and W brands. Starwood is one of the leading hotel and leisure companies in the world with more than 700 hotels in 80 countries and 120,000 employees at its owned and managed properties.
(Note: This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time the forward-looking statements are made, including, without limitation, risks and uncertainties associated with the following: the continued ability of Starwood Hotels and Resorts (the “Trust”) to qualify for taxation as a REIT; Starwood`s ability to attract and retain personnel; completion, terms and timing of future acquisitions and dispositions, including the pending sale of Starwood`s remaining gaming operations; the availability of capital for acquisitions and for renovations; execution of hotel renovation and expansion programs; the ability to maintain existing management, franchise or representation agreements and to obtain new agreements on favorable terms; competition within the lodging industry and from emerging technologies, the cyclicality of the real estate business; and the hotel business; foreign exchange fluctuations and exchange control restrictions; general real estate and national and international economic conditions; political, financial and economic conditions and uncertainties in countries in which Starwood owns property or operates; and the other risks and uncertainties set forth in the annual, quarterly and current reports and proxy statements of the Trust and Starwood. Starwood undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.) SOURCE Starwood Hotels & Resorts Worldwide, Inc.