STARWOOD HOTELS & RESORTS WORLDWIDE, INC.

Transcription

1 SAME STORE OWNED HOTELS STARWOOD HOTELS & RESORTS WORLDWIDE, INC. For the Three Months Ended UNAUDITED WORLDWIDE NORTH AMERICA INTERNATIONAL (2) 134 Hotels 91 Hotels 43 Hotels REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 74.0% 70.8% % 73.5% % 63.0% REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 71.6% 69.3% % 74.1% % 59.1% REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 77.6% 73.2% % 74.5% % 69.3% REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 71.5% 66.2% % 69.0% % 61.5% 4.7 W REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 80.5% 76.7% % 76.7% % 0.0% n/a REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 71.3% 68.1% % 66.6% % 77.6% (4.9) (1) Hotel Results exclude 4 hotels sold or closed and 3 hotels without comparable results during 2004 and (2) See next page for breakdown by division Page 1

2 For the Three Months Ended UNAUDITED EUROPE LATIN AMERICA ASIA PACIFIC 28 Hotels 11 Hotels 4 Hotels SAME STORE OWNED HOTELS REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 71.8% 66.8% % 54.1% % 71.4% (0.8) REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 73.3% 66.6% % 49.8% % 67.6% REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 71.7% 68.9% % 70.4% % 0.0% n/a REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 66.2% 61.5% % 0.0% n/a 0.0% 0.0% n/a REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 0.0% 0.0% n/a 0.0% 0.0% n/a 72.7% 77.6% (4.9) (1) Hotel Results exclude 4 hotels sold or closed and 3 hotels without comparable results during 2004 and Page 2

3 For the Three Months Ended UNAUDITED ($ thousands except variances) WORLDWIDE (2) NORTH AMERICA (2) INTERNATIONAL (3) 134 Hotels 91 Hotels 43 Hotels SAME STORE OWNED HOTELS Total REVENUE 928, , % 674, , % 254, , % Total EXPENSE 664, ,516 (6.9%) 481, ,387 (5.9%) 183, ,129 (9.8%) REVENUE 364, , % 253, , % 111,164 98, % EXPENSE 264, ,701 (7.2%) 180, ,040 (3.5%) 84,268 72,661 (16.0%) REVENUE 295, , % 194, , % 100,601 91, % EXPENSE 204, ,443 (7.0%) 135, ,413 (7.3%) 69,215 65,030 (6.4%) REVENUE 104,638 98, % 69,675 65, % 34,963 33, % EXPENSE 73,729 70,360 (4.8%) 51,384 48,160 (6.7%) 22,345 22,200 (0.7%) REVENUE 107,838 93, % 107,838 93, % % EXPENSE 77,411 71,460 (8.3%) 77,411 71,460 (8.3%) % REVENUE 56,581 50, % 48,531 43, % 8,050 7, % EXPENSE 44,186 41,552 (6.3%) 36,563 34,314 (6.6%) 7,623 7,238 (5.3%) (1) Hotel Results exclude 4 hotels sold or closed and 3 hotels without comparable results during 2004 and (2) Includes lease expense of $4,288 in 2005 and 2004 related to the lease of the W Times Square in New York (3) See next page for breakdown by division Page 3

4 For the Three Months Ended UNAUDITED ($ thousands except variances) EUROPE LATIN AMERICA ASIA PACIFIC 28 Hotels 11 Hotels 4 Hotels SAME STORE OWNED HOTELS Total REVENUE 179, , % 47,137 38, % 27,955 25, % Total EXPENSE 130, ,812 (6.7%) 31,823 25,653 (24.1%) 21,609 19,664 (9.9%) REVENUE 61,074 55, % 30,185 25, % 19,905 17, % EXPENSE 48,790 43,529 (12.1%) 21,492 16,706 (28.6%) 13,986 12,426 (12.6%) REVENUE 83,649 78, % 16,952 13, % % EXPENSE 58,884 56,083 (5.0%) 10,331 8,947 (15.5%) % REVENUE 34,963 33, % 0 0 n/a 0 0 n/a EXPENSE 22,345 22,200 (0.7%) 0 0 n/a 0 0 n/a REVENUE % % 8,050 7, % EXPENSE % % 7,623 7,238 (5.3%) (1) Hotel Results exclude 4 hotels sold or closed and 3 hotels without comparable results during 2004 and Page 4

5 For the Six Months Ended UNAUDITED WORLDWIDE NORTH AMERICA INTERNATIONAL (2) 133 Hotels 90 Hotels 43 Hotels SAME STORE OWNED HOTELS REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 70.3% 67.7% % 69.9% % 61.3% REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 68.1% 66.3% % 69.7% (0.5) 65.6% 59.1% REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 74.7% 71.4% % 73.6% % 64.3% REVPAR ($) % % % ADR ($) % % (0.3%) OCCUPANCY (%) 67.2% 62.1% % 67.8% % 52.2% 4.1 W REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 75.5% 71.7% % 71.7% % 0.0% n/a REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 64.8% 62.3% % 59.0% % 82.4% (3.4) (1) Hotel Results exclude 4 hotels sold or closed and 4 hotels without comparable results during 2004 and (2) See next page for breakdown by division Page 5

6 SAME STORE OWNED HOTELS STARWOOD HOTELS & RESORTS WORLDWIDE, INC. For the Six Months Ended UNAUDITED EUROPE LATIN AMERICA ASIA PACIFIC 28 Hotels 11 Hotels 4 Hotels REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 65.5% 60.8% % 57.2% % 73.4% REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 68.5% 63.0% % 53.1% % 67.9% REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 64.8% 61.1% % 72.6% % 0.0% n/a REVPAR ($) % % % ADR ($) (0.3%) % % OCCUPANCY (%) 56.3% 52.2% % 0.0% n/a 0.0% 0.0% n/a REVPAR ($) % % % ADR ($) % % % OCCUPANCY (%) 0.0% 0.0% n/a 0.0% 0.0% n/a 79.0% 82.4% (3.4%) (1) Hotel Results exclude 4 hotels sold or closed and 4 hotels without comparable results during 2004 and Page 6

7 For the Six Months Ended UNAUDITED ($ thousands except variances) WORLDWIDE (2) NORTH AMERICA (2) INTERNATIONAL (3) 133 Hotels 90 Hotels 43 Hotels SAME STORE OWNED HOTELS Total REVENUE 1,701,818 1,576, % 1,237,337 1,158, % 464, , % Total EXPENSE 1,275,245 1,198,852 (6.4%) 923, ,686 (4.8%) 352, ,165 (10.7%) REVENUE 652, , % 440, , % 211, , % EXPENSE 495, ,814 (6.2%) 334, ,952 (2.8%) 160, ,862 (14.3%) REVENUE 556, , % 378, , % 177, , % EXPENSE 399, ,779 (7.3%) 267, ,935 (6.3%) 132, ,844 (9.2%) REVENUE 197, , % 139, , % 57,873 54, % EXPENSE 145, ,403 (4.2%) 101,963 97,704 (4.4%) 43,348 41,699 (4.0%) REVENUE 195, , % 195, , % % EXPENSE 149, ,616 (6.8%) 149, ,616 (6.8%) % REVENUE 100,080 92, % 82,863 76, % 17,217 15, % EXPENSE 85,056 80,240 (6.0%) 69,167 65,480 (5.6%) 15,889 14,760 (7.6%) (1) Hotel Results exclude 4 hotels sold or closed and 4 hotels without comparable results during 2004 and (2) Includes lease expense of $8,575 in 2005 and 2004 related to the lease of the W Times Square in New York (3) See next page for breakdown by division Page 7

8 For the Six Months Ended UNAUDITED ($ thousands except variances) EUROPE LATIN AMERICA ASIA PACIFIC 28 Hotels 11 Hotels 4 Hotels SAME STORE OWNED HOTELS Total REVENUE 308, , % 99,285 83, % 57,058 51, % Total EXPENSE 245, ,192 (9.2%) 62,844 53,627 (17.2%) 43,356 39,346 (10.2%) REVENUE 110, , % 61,383 53, % 39,841 35, % EXPENSE 91,851 81,323 (12.9%) 41,621 34,953 (19.1%) 27,467 24,586 (11.7%) REVENUE 139, , % 37,902 30, % % EXPENSE 110, ,170 (8.4%) 21,223 18,674 (13.6%) % REVENUE 57,873 54, % 0 0 n/a 0 0 n/a EXPENSE 43,348 41,699 (4.0%) 0 0 n/a 0 0 n/a REVENUE % % 17,217 15, % EXPENSE % % 15,889 14,760 (7.6%) (1) Hotel Results exclude 4 hotels sold or closed and 4 hotels without comparable results during 2004 and Page 8

9 Debt Portfolio Summary As of UNAUDITED Interest Balance Interest Avg Maturity Debt Terms (in millions) % of Portfolio Rate (in years) Floating Rate Debt: Senior credit facility Revolving credit facility Various $ 14 0% 3.81% 1.3 Term loan LIBOR % 4.59% % 4.57% 1.2 Mortgages and other Various 186 4% 5.38% 2.2 Interest rate swaps LIBOR % 7.75% Total Floating 1,000 23% 5.67% 1.4 Fixed Rate Debt: Sheraton Holding public debt (1) 1,052 24% 6.00% 7.5 Senior notes (2) 1,510 35% 6.70% 4.4 Convertible debt 360 8% 3.50% 0.9 Mortgages and other % 7.25% 5.8 Interest rate swaps (300) (7%) 7.88% Total Fixed 3,359 77% 6.13% 5.2 Total Debt $ 4, % 6.03% 4.6 (1) Balance consists of outstanding public debt of $1.047 billion and a $5 million fair value adjustment related to the unamortized gain on fixed to floating interest rate swaps terminated in September 2002 and March (2) Balance consists of outstanding public debt of $1.496 billion and a $26 million fair value adjustment related to the unamortized gain on fixed to floating interest rate swaps terminated in September 2002 and March 2004 and a ($12) million fair value adjustment related to current fixed to floating interest rate swaps. Maturities <1 year $ years 1, years 485 >5 years 1,609 $ 4,359 Page 9

10 Hotels without Comparable Results & Other Selected Items As of UNAUDITED ($ millions) Properties without comparable results in 2005: Selected Balance Sheet Items: Property Location Cash and cash equivalents (including restricted cash of $518 million) $ 899 Sheraton Kauai Koloa, HI Debt level $ 4,359 St. Regis Aspen Aspen, CO Paradise Streams Caesars Mt. Pocono, PA Shertaton Cancun Cancun, Mexico Properties sold or closed in 2005 and 2004: Property Englewood - Sheraton Denver Tech Center Deerfield - Hilton Rancho Bernardo - Four Points Lisbon - Sheraton Lisboa Htl & Twrs Location Englewood, CO Ft. Lauderdale, FL Rancho Bernardo, CA Lisbon, Portugal Page 10

11 Capital Expenditures For the Three and Six Months Ended UNAUDITED ($ millions) Q2 YTD Capital Expenditures: Owned, Leased and Consolidated Joint Venture Hotels Corporate/IT Subtotal Vacation Ownership Capital Expenditures: Capital expenditures (includes land acquisitions) 6 8 Net capital expenditures for inventory (1) (6) (20) Subtotal - (12) Development Capital Total Capital Expenditures (1) Represents gross inventory capital expenditures of $40 and $73 in the three and six months ended, respectively, less cost of sales of $46 and $93 in the three and six months ended, respectively. Page 11

12 Summary of Portfolio by Properties & Rooms As of UNAUDITED NAD EAME LAD ASIA Total Owned Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Sheraton 36 16, , , , ,872 Westin 22 10, , ,634 Four Points 6 1, ,783 W 12 4, ,294 Luxury Collection ,612 St. Regis ,001 Other 12 2, ,806 Total Owned 93 36, , , , ,002 Managed & UJV Sheraton 42 20, , , , ,260 Westin 37 20, , , ,692 Four Points , ,160 W ,492 Luxury Collection 6 1, ,501 St. Regis ,089 Other 1 2, ,863 Total Managed & UJV 94 47, , , , ,057 Franchised Sheraton , , , , ,752 Westin 18 7, , , ,253 Four Points 92 16, , , ,215 Luxury Collection , ,954 Total Franchised , , , , ,174 Systemwide Sheraton , , , , ,884 Westin 77 38, , , , ,579 Four Points 99 17, , , , ,158 W 17 5, ,786 Luxury Collection 10 2, , ,067 St. Regis 6 1, ,090 Other 13 5, ,669 Total Systemwide , , , , ,233 Page 12