Starwood Announces Record Third Quarter 2000 Results

Third Quarter Financial Highlights:
* Third quarter diluted EPS from continuing operations increased 32% to $0.50 when compared to pro forma comparable diluted EPS of $0.38 for the same period of 1999.
* Total revenues increased 16% to $1.11 billion and EBITDA increased 20% to $406 million. Operating income increased 26% to $274 million.
* REVPAR for Same-Store Owned Hotels in North America increased 14.2%.
* Occupancy rates at Same-Store Owned Hotels in North America increased 330 basis points to 77.7%.
* EBITDA at Comparable Owned Hotels in North America increased 23% and EBITDA margins increased 280 basis points to 32.4%.
Starwood Hotels & Resorts Worldwide, Inc. will be conducting a conference call to discuss the quarterly results at 10:30 a.m. (EST) today. Future performance of the Company may be discussed. The conference call will be available through simultaneous webcast in the Investor Relations/Press Releases section of the Company`s website at . A replay of the conference call will also be available from 1:30 p.m. (EST) today through 8:00 p.m. (EST) November 7, 2000 on both the Company`s website and via telephone replay at 719-457-0820 (access code: 592257).