Starwood Announces Share Repurchase Authorization Increase

Apr 02, 2001, 01:00 ET from Starwood Hotels & Resorts Worldwide, Inc.

    WHITE PLAINS, N.Y., April 2 /PRNewswire/ -- Starwood Hotels & Resorts
 Worldwide, Inc. (NYSE:   HOT) announced today that the Company's Board of
 Directors, at today's regularly scheduled meeting, authorized the repurchase
 of up to an additional $500 million of Starwood shares.  Current total share
 repurchase authorization, when combined with amounts remaining from previous
 authorizations, is now approximately $694 million.
     Over the last three years the Company has repurchased approximately $941
 million of Starwood shares.  At March 31, 2001, total Starwood shares
 outstanding was approximately 201 million.
 
     Starwood Hotels & Resorts Worldwide, Inc. (NYSE:   HOT) is one of the
 leading hotel and leisure companies in the world with more than 725 properties
 in 80 countries and 120,000 employees at its owned and managed properties.
 With internationally renowned brands, Starwood is a fully integrated owner,
 operator and franchiser of hotels and resorts including: St. Regis, The Luxury
 Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as
 Starwood Vacation Ownership, Inc., one of the premier developers and operators
 of high quality vacation interval ownership resorts. For more information,
 please visit us at http://www.starwoodhotels.com.
 
 

SOURCE Starwood Hotels & Resorts Worldwide, Inc.
    WHITE PLAINS, N.Y., April 2 /PRNewswire/ -- Starwood Hotels & Resorts
 Worldwide, Inc. (NYSE:   HOT) announced today that the Company's Board of
 Directors, at today's regularly scheduled meeting, authorized the repurchase
 of up to an additional $500 million of Starwood shares.  Current total share
 repurchase authorization, when combined with amounts remaining from previous
 authorizations, is now approximately $694 million.
     Over the last three years the Company has repurchased approximately $941
 million of Starwood shares.  At March 31, 2001, total Starwood shares
 outstanding was approximately 201 million.
 
     Starwood Hotels & Resorts Worldwide, Inc. (NYSE:   HOT) is one of the
 leading hotel and leisure companies in the world with more than 725 properties
 in 80 countries and 120,000 employees at its owned and managed properties.
 With internationally renowned brands, Starwood is a fully integrated owner,
 operator and franchiser of hotels and resorts including: St. Regis, The Luxury
 Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as
 Starwood Vacation Ownership, Inc., one of the premier developers and operators
 of high quality vacation interval ownership resorts. For more information,
 please visit us at http://www.starwoodhotels.com.
 
 SOURCE  Starwood Hotels & Resorts Worldwide, Inc.