Hotel Job Resource - Starwood Hotel News

Announces Plans to Temporarily Relocate Global Headquarters to the Middle East in 2013

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) is strengthening its position as the leading hotel operator in the Middle East and North Africa (MENA) region with an existing portfolio of nearly 70 hotels and a pipeline of 40 new hotels.

Starwood's mid-market portfolio, which includes Aloft, Element and Four Points by Sheraton, is expected to open its milestone 250th hotel by the end of the year, with 26 more hotels scheduled to debut in 2012.

Starwood Hotels & Resorts Worldwide, Inc. today announces the debut of The St. Regis Doha as the St. Regis brand continues its dynamic global growth and nearly triples its portfolio in just five years.

Starwood Hotels and Resorts Worldwide, Inc. (NYSE:HOT) has signed an agreement with BCD Co. to manage a new-build Sheraton hotel in Erbil, Iraq. Scheduled to open in 2015, the Sheraton Erbil Hotel will mark the re-entry of Starwood in the country after 20 years.

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) has signed an agreement with UAE-based conglomerate Al Habtoor Group to open three hotels in Dubai. Located on a one million square-foot property on Sheikh Zayed Road, the development will include the first St. Regis hotel in Dubai, a stylish W Hotel and a new Westin, adding 1,675 rooms to the city when they open in 2017.

The hotel business is back, thanks to a mix of renewed confidence from corporations and new demand from the newly wealthy.

Excluding special items, EPS from continuing operations was $0.63, including income from the St. Regis Bal Harbour residential project. Including special items, EPS from continuing operations was $0.65 - Adjusted EBITDA was $297 million, which included $78 million of EBITDA from the St. Regis Bal Harbour residential project, up 42.8% compared to 2011.

With recent hotel openings in Ningbo, Sanya, Yangzhou and Xian, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced it has surpassed the opening of its 100th operating hotel in China with plans to open 15 additional hotels by the end of this year.

The partnership underpins the heritage and excellence of the brands, creating signature experiences for guests, residents and customers with driving programs, special events, brand initiatives and house fleets at flagship hotels around the world.