Press Release: Starwood Hotels & Resorts Worldwide, Inc.
June 11, 2002
WHITE PLAINS, NY -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) has been honored as the lodging industry's
top performing board of directors for the year 2001 by HVS Executive Search, a division of the global hotel consulting
firm HVS International.
Keith Kefgen, president of HVS Executive Search, and Stephen Rushmore, president and founder of HVS International,
presented the award to Starwood at the 24th Annual New York University International Hospitality Industry Investment
Conference.
The award is presented each year to the board of directors that is most effective in leading a public lodging company.
The ranking is done using a corporate governance model designed by Kefgen, and compares board makeup, independence,
committee structure, conflicts of interest and a commitment to pay-for-performance.
"On behalf of the board, Starwood is extremely honored to receive this award," said Starwood Chairman
and CEO Barry Sternlicht. "The board's dedication and stewardship over Starwood's activities and initiatives
has been invaluable."
"The responsibility of running a public company in today's market is tremendous," says Kefgen. "Wall
Street has been very unforgiving to companies that have faltered in the area of corporate governance. But in just
four years since its inception, Starwood's board has demonstrated a successful commitment to this process."
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with
more than 740 properties in more than 80 countries and 110,000 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 www.starwood.com
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Contact:
Starwood Hotels & Resorts Worldwide, Inc., White Plains
Nadeen Ayala, 914/640-8459
E-mail: nadeen.ayala@starwoodhotels.com