Starwood Announces Record Second Quarter 2000 Results

Second Quarter Financial Highlights:
* Second quarter diluted EPS from continuing operations increased 30% to $0.56 when compared to pro forma comparable diluted EPS for the same period of 1999.
* Total revenues increased 19% to $1.15 billion. Operating income increased 24% to $289 million.
* REVPAR for Same-Store Owned Hotels in North America increased 12.8%.
* Occupancy rates at Same-Store Owned Hotels in North America increased 370 basis points including a 550 basis point improvement at Sheraton Same-Store Owned Hotels.
* Total Company EBITDA increased 18%. EBITDA margins at Comparable Owned Hotels worldwide increased 170 basis points to 35.5%.
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