WHITE PLAINS, N.Y., December 11, 2009 — On December 10th, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) completed a securitization involving the issuance of $166 million of notes by SVO 2009-B VOI Mortgage Corporation. Starwood contributed approximately $200 million in timeshare mortgages with an 83% advance and note rate of 5.81%. Starwood expects that the securitization will result in a pre-tax gain of over $15 million. The notes have not been and will not be registered under the Securities Act of 1933, as amended, or any state securities laws.
This announcement does not constitute an offer to sell or a solicitation of an offer to purchase any securities, and shall not constitute an offer, solicitation or sale of the notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 982 properties in 100 countries and approximately 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 Méridien®, and the recently announced AloftSM and ElementSM. 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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Starwood Hotels & Resorts Worldwide, Inc.
Jason Koval, 914-640-8165
Vice President, Investor Relations
SOURCE: Starwood Hotels & Resorts Worldwide, Inc.