Starwood 2005 Annual Report Download - page 6

General Managers have inspired all associates to instinctively and thoughtfully respond to guests' needs on a
personal level. Westin's customized renewal experiences energize guests' minds, bodies and spirits, making
each guest's stay especially memorable. Guests leave Westin Hotels & Resorts rested, energized, enriched and
renewed, feeling much better than they did when they arrived.
Le M πeridien (luxury and upscale full-service hotels and resorts) is a European brand with a French
accent. Each of its hotels, whether city, airport or resort has a distinctive character driven by its individuality
and the Le Mπeridien brand values. With its underlying passion for food, art and style and its classic yet stylish
design, Le Mπeridien oÅers a unique experience at some of the world's top travel destinations.
Sheraton Hotels & Resorts (luxury and upscale full-service hotels and resorts) is the Company's largest
brand serving the needs of upscale business and leisure travelers worldwide. We oÅer the entire spectrum of
comfort. From full-service hotels in major cities to luxurious resorts by the water, Sheraton can be found in
the most sought-after cities and resort destinations around the world. Every guest at Sheraton hotels and
resorts feels a warm and welcoming connection, the feeling you have when you walk into a place and your
favorite song is playing Ì a sense of comfort and belonging. At Sheraton, we help our guests connect to what
matters most to them, the oÇce, home and the best spots in town.
Four Points by Sheraton (moderately priced select-service hotels) delights the self-suÇcient traveler with
a new kind of comfort, approachable style and spirited, can-do service Ì all at the honest value our guests
deserve. Our guests start their day feeling energized and Ñnish up relaxed and free to enjoy little indulgences
that make their time away from home special.
aloft (moderately priced select-service hotels), a brand introduced in 2005 with the Ñrst hotel expected to
open in 2007, is a hotel of new heights, an oasis where you least expect it, a spirited neighborhood outpost, a
haven at the side of the road. Bringing a cozy harmony of modern elements to the classic American on-the-
road tradition, aloft oÅers a sassy, refreshing, ultra eÅortless alternative for both the business and leisure
traveler. Fresh, fun, and fulÑlling, aloft is an experience to be discovered and rediscovered, destination after
destination, as you ease on down the road.
Through our brands, we are well represented in most major markets around the world. Our operations are
grouped into two business segments, hotels and vacation ownership and residential operations.
Our revenue and earnings are derived primarily from hotel operations, which include the operation of our
owned hotels; management and other fees earned from hotels we manage pursuant to management contracts;
and the receipt of franchise and other fees.
Our hotel business emphasizes the global operation of hotels and resorts primarily in the luxury and
upscale segment of the lodging industry. We seek to acquire interests in, or management or franchise rights
with respect to properties in this segment. At December 31, 2005, our hotel portfolio included owned, leased,
managed and franchised hotels totaling 845 hotels with approximately 258,000 rooms in approximately 100
countries, and is comprised of 130 hotels that we own or lease or in which we have a majority equity interest,
378 hotels managed by us on behalf of third-party owners (including entities in which we have a minority
equity interest) and 337 hotels for which we receive franchise fees.
Our revenues and earnings are also derived from the development, ownership and operation of vacation
ownership resorts, marketing and selling vacation ownership interests (""VOIs'') in the resorts and providing
Ñnancing to customers who purchase such interests. Generally these resorts are marketed under the brand
names described above. At December 31, 2005, we had 19 vacation ownership resorts and residential
properties in the United States, Mexico and the Bahamas. Additionally, our revenues and earnings are derived
from the development, marketing and selling of residential units at mixed use hotel projects owned by us as
well as fees earned from the marketing and selling of residential units at mixed use hotel projects developed by
third-party owners of hotels operated under our brands.
The Trust was organized in 1969, and the Corporation was incorporated in 1980, both under the laws of
Maryland. Sheraton Hotels & Resorts and Westin Hotels & Resorts, Starwood's largest brands, have been
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