Press Release: Starwood Vacation Ownership, Inc.
January 25, 2001
ORLANDO, FL -- Starwood Vacation Ownership, Inc. (SVO) is excited to announce Starwood Vacation Network (SVN),
an innovative exchange program that gives its members easy access to all the exciting Sheraton and Westin Vacation
Ownership resorts as well as to Starwood Hotels & Resorts Worldwide, Inc.'s (NYSE: HOT) more than 725 properties
around the world. Participation in the network will provide interval owners with unprecedented opportunities to
experience Starwood's exceptional brands including St. Regis, The Luxury Collection, Sheraton, Westin, Four Points
by Sheraton and W Hotels. Starwood Vacation Network was developed to meet the needs of today's travelers resulting
in a user-friendly system that emphasizes flexibility and access to all of Starwood's hotels and resorts worldwide.
``We have developed a program that gives our owners maximum flexibility and full access to the strength of Starwood's
brands. Consumers today want flexibility and fewer restrictions. We have listened and responded with a product
that surpasses everything in the market today,'' said Raymond L. ``Rip'' Gellein, Jr., chairman and co-chief executive
officer of Starwood Vacation Ownership, Inc. ``Our owners will have access to all SVN resorts, all Starwood hotels
around the world and can trade outside of the Starwood family through our external exchange partners.''
According to Jeffrey A. Adler, president and co-chief executive officer of Starwood Vacation Ownership, Inc., SVN
incorporates the flexibility of a points-based system -- giving interval owners unlimited options including priority
access to their home resort, access to all SVN resorts or, through the Starwood Preferred Guest Program, access
to all Starwood hotels and resorts around the world. In addition, owners will have access to other national and
international vacation ownership resorts through one of two external exchange providers.
``What separates us from the competition is the extraordinary flexibility of the Starwood Vacation Network and
access to Starwood's global assets which include more Conde Nast Traveler Magazine's Gold List properties than
any other company,'' said Adler.
``We have the advantage of 20 years experience in this business and have developed a product that leverages the
power of our multiple brands and Starwood Preferred Guest Program, the industry's leading guest rewards program,
with a vacation ownership product. Our interval owners will enjoy the many benefits of Starwood Preferred Guest,
including no black out dates, merchandise awards and room upgrades, so our owners can go where they want, when
they want. No other company can offer this competitive advantage.''
Through Starwood Vacation Network, SVO owners can create unique vacations with priority exchange privileges at
a growing collection of Westin and Sheraton-branded vacation ownership resorts. Based on the value of the interval,
owners may choose any other resort in the network, the villa type, the travel date and length of stay. This allows
owners to trade from a Westin Vacation Ownership Resort to a Sheraton Vacation Ownership Resort and vice versa,
from one season to another and from one location to another. The Starwood Vacation Network allows owners to convert
vacation intervals into SPG Starpoints which can be used for free nights in Starwood hotels, free flights with
27 airline partners' frequent flyer programs, cruises, car rentals and merchandise at stores such as Lands End
and Sharper Image.
The Starwood Vacation Network will first be sold to consumers at the
following Starwood Vacation Ownership, Inc. resorts:
-- Westin Mission Hills Resort Villas in Rancho Mirage, California
-- Westin St. John Resort Villas, U.S.V.I.
-- Sheraton's Mountain Vista Resort in Avon, Colorado
-- Sheraton's Broadway Plantation in Myrtle Beach, South Carolina
-- Sheraton's Desert Oasis in Scottsdale, Arizona
-- Sheraton's Vistana Villages in Orlando, Florida.
Additional vacation ownership resorts will be added to the network as they are developed. According to Adler,
SVN offers the confidence of dealing with an established, quality oriented company, the security of deeded real
estate, the advantage of home resort preferences, a choice of fixed or float-type product and the flexibility of
a points-based multi-property system tied into the Starwood Preferred Guest Program.
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 and W brands, as
well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation
interval ownership resorts.
SOURCE: Starwood Vacation Ownership, Inc.