Starwood Hotels and Resorts Worldwide Inc. was founded in 1969 as a REIT (Real Estate Investment Trust) and was later incorporated in 1980.
Image: company website
It is a US based hotel and leisure company with its headquarters in Stamford, Connecticut. Undoubtedly figuring as one of the world’s largest hotel companies, Starwood owns, manages, operates as well as franchises hotels, spas, residences, resorts and vacation ownership properties under the 11 brands that it owns.
It currently has over 1300 properties in around 100 countries and employs about 188000 employees worldwide. It is a publically listed company. With its November 2015 announcement of purchasing the Starwood Hotels and Resorts Worldwide for $13.6 billion, the Marriott International hotel chain took the world by storm. While the acquisition is pending, it would create the world’s largest hotel chain with the combined assets and synergy of the two, once the deal comes into effect. As of now, stockholders from both Marriott and Starwood have voted and given their nod to this marriage, and the legal and customary formalities are being completed.
The global brands affiliated to the Starwood Hotels include St. Regis, The Luxury Collection, W, Westin, Le Meridien, and Sheraton (all of which are majorly luxury and upscale hotels and resorts). While Aloft and Four Points are select-service hotels, the Element brand are meant for extended stay hotels. The group also includes several independent hotels, listed under the brands Design Hotels as well as under its latest offering the Tribute Portfolio. The company is also committed to a better, greener tomorrow and is striving towards a 30% decrease in energy consumption and emissions and 20% reduction in water consumption at all its globally managed properties by 2020.
It is a publically listed company and trades on the NYSE.