Starwood 2003 Annual Report Download - page 26

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Item 2. Properties.
Starwood is one of the largest hotel and leisure companies in the world, with operations in 82 countries.
Starwood considers its hotels and resorts, including vacation ownership resorts (together ""Resorts''), generally
to be premier establishments with respect to desirability of location, size, facilities, physical condition, quality
and variety of services oÅered in the markets in which they are located. Although obsolescence arising from
age and condition of facilities can adversely aÅect the Company's Resorts, Starwood and third-party owners of
managed and franchised Resorts expend substantial funds to renovate and maintain their facilities in order to
remain competitive. For further information, see Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations Ì Liquidity and Capital Resources in this Joint Annual Report.
The Company's hotel business included 738 owned, managed or franchised hotels with approximately
229,000 rooms and its vacation ownership business included 18 vacation ownership resorts at December 31,
2003, predominantly under six brands. All brands represent full-service properties that range in amenities from
luxury hotels and resorts to more moderately priced hotels. As a result of the Bliss acquisition, the Company
also leases three stand alone Bliss Spas, two in New York, New York and one in London, England.
The following table reÖects the Company's hotel and vacation ownership properties, by brand:
Hotels VOI
Properties Rooms Properties Rooms
St. Regis and Luxury Collection ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 49 8,000 Ì Ì
Sheraton ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 394 135,000 7 2,000
WestinÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 121 52,000 4 1,000
WÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 18 5,000 Ì Ì
Four PointsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 138 25,000 Ì Ì
Independent/Other ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 18 4,000 7 1,000
Total ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 738 229,000 18 4,000
St. Regis Hotels & Resorts (luxury full-service hotels and resorts) deliver the most discreet, personalized
and anticipatory level of service to high-end leisure and business travelers. St. Regis hotels typically have
individual design characteristics to accentuate each individual location and city. Most St. Regis hotels have
spacious, luxurious rooms and suites with highly designed, residential surroundings and include a 4- or 5-Star
restaurant on premises. The Company is in the process of developing several condominium and fractional
residential properties as part of existing, or to be built, St. Regis hotels. Some of these properties include the
St. Regis Museum Tower Hotel in San Francisco, California, scheduled to open in mid 2005, the Residence
Club in Aspen, Colorado, scheduled to open during the summer of 2005 and Temenos, Anguilla, a St. Regis
Retreat, which is scheduled to debut in 2006.
The Luxury Collection (luxury full-service hotels and resorts) is a group of unique hotels and resorts
oÅering exceptional service to an elite clientele (some of which may also be branded a St. Regis, Sheraton or
Westin). The Luxury Collection includes some of the world's most renowned and legendary hotels generally
well known by the individual hotel name. These hotels are distinguished by magniÑcent decor, spectacular
settings and impeccable service.
Sheraton Hotels & Resorts (upscale full-service hotels and resorts) is the Company's largest brand
serving the needs of upscale business and leisure travelers worldwide. Sheraton hotels and resorts oÅer the
entire spectrum of comfort, from full-service hotels in major cities to luxurious resorts. These hotels and
resorts typically feature a wide variety of on-site business services and a full range of amenities including
rooms that feature generous work spaces, allowing business travelers to stay productive on the road.
Westin Hotels & Resorts (luxury and upscale full-service hotels and resorts) are Ñrst-class, signature
hotels that typically make up an integral part of a city or region in which the hotels are located. Westin hotels
and resorts are characterized by a commitment to uncompromised elegance, service and guest experience. The
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