WHITE PLAINS, N.Y.—(BUSINESS WIRE)—June 3, 2003—Starwood Hotels & Resorts Worldwide, Inc. Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) Chairman and CEO Barry S. Sternlicht has been named as a recipient of Diversity Best Practices` CEO Leadership Award for his ongoing commitment to creating an environment of diversity and inclusion for Starwood`s associates, guests and suppliers.

Sternlicht is one of ten 2003 CEO award winners that will be honored at the 2003 Diversity and Women Leadership Summit & Gala, October 15th in Washington, D.C.

The Diversity Best Practices 2003 Leadership awards showcases the nation`s progressive business leaders for embracing diversity in markets, workforces and communities. Sternlicht is being recognized for creating a corporate culture that embraces and drives diversity success throughout Starwood`s portfolio of brands including Westin, Sheraton, Four Points by Sheraton, St. Regis, The Luxury Collection and W Hotels.

“When we sat down to write Starwood`s corporate values statement several years ago the first words we put on paper were `We value the diversity of people, cultures and ideas and promise to improve the communities in which we do business`,” says Sternlicht. ” As we operate in 80 countries it is simply good business to be at least as diverse as the customers we serve. We continuously strive to show our commitment to these principles and are honored to be recognized for these efforts.”

Criteria for this distinguished award include a commitment to diversity through corporate initiatives, special recognition of the community, philanthropic and supplier diversity, chairing and supporting diversity councils and ensuring top management support. Some recent highlights of Starwood`s diversity initiatives includes the introduction of a corporate wide Diversity Council and the launch of the company`s internal diversity website where Starwood associates can find information about ongoing diversity and inclusion efforts, ask questions about diversity and discover resources to broaden their own awareness and understanding.

“Your efforts to make diversity a business imperative as much as a social one are not just worthy of recognition, they are an extraordinary example for other companies to follow,” says Steve Milller, Chairman of Diversity Best Practices and CEO Initiative and former Chairman, Shell Oil Company. “Barry and the other CEO`s selected live diversity. They are taking advantage of every opportunity to create a new business culture that is progressive, inclusive and most importantly, lucrative as diversity has a bottom line. We commend Barry Sternlicht and his efforts.”

“We are extremely proud of Barry Sternlicht`s leadership and the fact that diversity is pervasive throughout Starwood`s corporate culture,” adds Edie Fraser, President of Diversity Best Practices. “We congratulate Starwood.”

Starwood values the diversity of people, ideas and cultures. In keeping in line with that statement, the company aims to create an environment of inclusion for associates, guests and suppliers where their talents and experiences are valued and leveraged to provide high standards of performance.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 750 properties in more than 80 countries and 105,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchisor of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, W 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 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.

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