Starwood Declares 2003 Dividend

Starwood Hotels & Resorts Worldwide, Inc. (the “Company”) (NYSE: HOT) announced today that Starwood Hotels & Resorts, a subsidiary of the Company whose shares are traded together with the Company`s shares, has declared its 2003 annual dividend of $0.84 per share for the Company`s year ending December 31, 2003. The dividend will be payable on January 21, 2004 to shareholders of record on December 31, 2003.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 740 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