Starwood 2004 Annual Report Download - page 24

Item 2. Properties.
We are one of the largest hotel and leisure companies in the world, with operations in more than
80 countries. We consider our 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 our 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.
Our hotel business included 733 owned, managed or franchised hotels with approximately 231,000 rooms
and our vacation ownership business included 19 vacation ownership resorts at December 31, 2004,
predominantly under six brands. All brands represent full-service properties that range in amenities from
luxury hotels and resorts to more moderately priced hotels. We also lease three stand-alone Bliss Spas, two in
New York, New York and one in London, England. In addition, we are opening a Bliss Spa at the
W New York and a Remedπe Spa at the St. Regis Aspen.
The following table reÖects our hotel and vacation ownership properties, by brand:
Hotels VOI
Properties Rooms Properties Rooms
St. Regis and Luxury Collection ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 50 8,000 1 Ì
Sheraton ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 391 135,000 6 3,000
WestinÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 120 52,000 4 1,000
WÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20 6,000 Ì Ì
Four PointsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 135 24,000 Ì Ì
Independent/Other ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 17 6,000 8 1,000
Total ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 733 231,000 19 5,000
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. We are 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 St. Regis in Aspen,
Colorado, which opened in December 2004, 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.
16