Starwood 2009 Annual Report Download - page 169

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Note 25. Business Segment and Geographical Information
The Company has two operating segments: hotels and vacation ownership and residential. The hotel
segment generally represents a worldwide network of owned, leased and consolidated joint venture hotels and
resorts operated primarily under the Company’s proprietary brand names including St. Regis», The Luxury
Collection», Sheraton», Westin»,W», Le Méridien», Four Points»by Sheraton, Aloft»and Element»as well as
hotels and resorts which are managed or franchised under these brand names in exchange for fees. The vacation
ownership and residential segment includes the development, ownership and operation of vacation ownership
resorts, marketing and selling VOIs, providing financing to customers who purchase such interests, licensing fees
from branded condominiums and residences and the sale of residential units.
The performance of the hotels and vacation ownership and residential segments is evaluated primarily on
operating profit before corporate selling, general and administrative expense, interest expense, net of interest
income, losses on asset dispositions and impairments, restructuring and other special charges and income tax
benefit (expense). The Company does not allocate these items to its segments.
F-46
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS — (Continued)