All references to Same-Store Owned Hotels reflect the Company’s owned, leased and
consolidated joint venture hotels, excluding condo hotels, hotels sold to date and hotels
undergoing significant repositionings or for which comparable results are not available (i.e.,
hotels not owned during the entire periods presented or closed due to seasonality or
natural disasters). References to Company Operated Hotel metrics (e.g. REVPAR) reflect
metrics for the Company’s owned and managed hotels. References to System-Wide
metrics (e.g. REVPAR) reflect metrics for the Company’s owned, managed and franchised
hotels. REVPAR is defined as revenue per available room. ADR is defined as average
daily rate.
All references to contract sales or originated sales reflect vacation ownership sales before
revenue adjustments for percentage of completion accounting methodology.
All references to management and franchise revenues represent base and incentive fees,
franchise fees, amortization of deferred gains resulting from the sales of hotels subject to
long-term management contracts and termination fees offset by payments by Starwood
under performance and other guarantees.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure
companies in the world with 992 properties in almost 100 countries and 145,000
employees at its owned and managed properties. Starwood® Hotels is a fully integrated
owner, operator and franchisor of hotels and resorts with the following internationally
renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®,
Sheraton®, Four Points® by Sheraton, aloft(SM), and element(SM). Starwood Hotels also
owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of
high quality vacation interval ownership resorts.
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