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Press Release: Starwood Hotels & Resorts Worldwide, Inc.
May 18, 2006
WHITE PLAINS, NY -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT; "Starwood") announced May
16 that for the period commencing May 16, 2006 to, but not including November 15, 2006, contingent interest at
0.4125% per annum will accrue on its outstanding 3.5% Convertible Senior Notes due 2023 (the "Notes")
. Holders of the Notes are entitled to contingent interest due to the fact the Notes traded at 120% or more of
their principal amount for the 5-day period ending on May 12, 2006. On May 5, 2006, Starwood called the Notes for
redemption as of June 5, 2006. If holders of the Notes have not exercised their right to convert by June 1, 2006,
the Notes will be redeemed and principal and interest, including accrued contingent interest, will be paid on June
5, 2006. If holders of the Notes exercise their right to convert the Notes by June 1, 2006, the contingent interest
will be deemed paid by settlement of the conversions.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with
approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties.
Starwood® Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following
internationally renowned brands: St. Regis®, The Luxury Collection®, Sheraton®, Westin®, Four Points®
by Sheraton, W®, Le Meridien® and the recently announced Aloft(SM). Starwood Hotels also owns Starwood
Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership
resorts. For more information, please visit www.starwoodhotels.com.
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Contact: Starwood Hotels & Resorts Worldwide, Inc. Mike Jones, 914-640-8560
Source: Starwood Hotels & Resorts Worldwide, Inc.