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Starwood is one of the world's largest hotel and leisure companies, and conducts its hotel and leisure business both directly and through its subsidiaries. Brand names include the following: St Regis, The Luxury Collection, W, Westin, Le Meridien, Sheraton, Four Points, Aloft and Element. Through its brands, Starwood is well represented in most major markets around the world. Operations are grouped into two business segments, hotels and vacation ownership and residential operations. 

Starwood's hotel business emphasizes the global operation of hotels and resorts primarily in the luxury and upscale segment of the lodging industry. The company seeks to acquire interests in, or management or franchise rights with respect to properties in this segment. At December 31, 2007, Starwood's hotel portfolio included owned, leased, managed and franchised hotels totaling 897 hotels with approximately 275,000 rooms in approximately 100 countries, and is comprised of 74 hotels owned or leased in which the company has a majority equity interest, 415 hotels managed by Starwood on behalf of third-party owners (including entities in which the company has a minority equity interest) and 408 hotels for which Starwood receives franchise fees. 

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