WHITE PLAINS, NY— Starwood Hotels & Resorts Worldwide reported that due to its stronger than expected first quarter 2002 results, improving demand growth and favorable supply fundamentals over the short and long term, the company will raise retail pricing 5% at all owned, managed and participating franchised hotels and resorts effective May 1, 2002. Starwood has more than 740 properties in 80 countries and 110,000 employees at its owned and managed properties. The company is a fully integrated owner, operator and franchisor of hotels and resorts with brands including St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, and W, as well as Starwood Vacation Ownership, which develops and operates vacation interval ownership resorts.
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