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Starwood Q4 2009 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 12:11 AM ET February 09 2010


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Frits D. van Paasschen

Yeah. I think, Janet, it''s an important point. The select service business is less global than the full serve or luxury end of the spectrum which is why we continue to want to grow on the full-serve side. Having said that a good example of how we can make the extension into a select serve space but that its nonetheless at the high end of that space would be a market like China where with the strength of Sheraton we''ve been able to grow four points by Sheraton and also start to had a Aloft.

The formula is slightly different than in North America. They''re really great hotels. They''re not at the same level as our full-serve hotels but they''re certainly not your father''s select serve hotel in North America, either and we do think there''s a great opportunity at that slice to grow our select serve brands around the world.

Jason Koval

Next question, please.

Operator

Your next question is from Smedes Rose from KBW.

Smedes Rose - Keefe, Bruyette & Woods

Just wondering if you would talk about what you think the normal flow-through of your pipeline to kind of net room additions should be now that most of the Sheraton stuff is behind us.

Vasant M. Prabhu

Yeah. To say about 80 hotels opening. We would say exits are probably in the hopefully in the 25 to 30 range. So a net 50 with an average of 300 rooms. So that would give you 15,000 rooms a year on a base of 300. So it''s about 5%.

Jason Koval

Next question, please.

Operator

Your next question is from Rachael Rothman from Wedbush.

Amanda - Wedbush Morgan Securities

This is actually Amanda for Rachael. Just wondering, If you had to break down the price of revision in worldwide RevPar to North America versus international what would that look like?

Vasant M. Prabhu

Yeah. I think I indicated in my comments, I said that in our zero to 5% that we have for local currency RevPar company operated hotels North America was flat to down 3%. So obviously what''s pushing everything into positive territory is non-U.S. business.

Jason Koval


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