Starwood is the worlds largest hotel company.
On January 6, shareholders approved a corporate restructuring plan. As a result of the plan, HOT has relinquished its paired-share REIT status and is now a C-Corporation. Though the change in structure caused HOT to change its dividend policy, it enhanced the company's operating and financial flexibility. HOT is much less dependant on the equity markets to fund growth, and can now acquire non-REIT qualified businesses, such as timeshares and foreign investments.
Starwood Hotels & Resorts (formerly Starwood Lodging) is the largest U.S. hotel real estate investment trust. At/ March 30, 1998, it owned interests in 220 hotels, held mortgage interests in eight hotels, operated about 180 hotels on behalf of third parties and earned franchise fees by licensing one of its brand names to about 240 hotels
Upscale hotels generally provide guests with comfortable room surroundings that include a wet bar, state of the art entertainment facilities, quality furnishings and linens, as well as a range of services or amenities such as dry cleaning, room service, a pool or exercise facilities, at least one fine restaurant, etc. Hotels are operated under the following brand names or flags: Ritz Carlton, Westin, Marriott, Hilton, Sheraton, Omni, Doubletree, Embassy Suites, Radisson, Wyndham, and several others, as well as independent properties. |
