Starwood Introduces Minority Hotel Developer & Owner Program
Program for Minority Owners Offering Preferred and Customized Services for Starwood Branded Properti
WHITE PLAINS, NY, August 17, 2005. Starwood Hotels & Resorts Worldwide, Inc. announces its new Minority Hotel Developer & Owner Program allowing small minority developers preferential development services for all Starwood brands including St. Regis, The Luxury Collection, Westin, Sheraton, Four Points by Sheraton, W Hotels and Project XYZ.
Qualified minority developers pursuing single projects may now have access to services and benefits of the Starwood Preferred Developer Program, specialized services that are available to developers committing multiple projects with Starwood Hotels & Resorts. Additional advantages of the Starwood Hotel Development & Owner program include assistance with site qualification and access to an assigned Starwood development consultant for each individual project by the Starwood Real Estate Group.
At the same time, Merrill Lynch, in conjunction with Starwood, announces their Minority Developer Program, offering senior and mezzanine/subordinated financing up to 85% LTC financing resulting in a faster and simpler loan process, one blended rate and mortgage payment.
"The introduction of this program is another example of the commitment Starwood is making to create an environment of inclusion that embraces the diversity of all our constituencies, as well as our development community," said Ted Darnall, president, Starwood Real Estate Group. "Starwood is pleased to be increasing the size of our development community with minority business leaders who might not otherwise be able to pursue their goals of becoming hotel owners."
Starwood values the diversity of people, ideas and cultures. In keeping in line with that statement, the company aims to create an environment of inclusion for associates, guests, suppliers and clients where their talents and experiences are valued and leveraged to provide high standards of performance. Over the past several years, Starwood received recognition for excelling for its diversity initiatives and was the recipient of the CEO Leadership Award by Diversity Best Practices and the Business Women's Network; Starwood ranked of 32 on Fortune magazine's 50 Best Companies for Minorities and DiversityInc magazine's Top 50 rated Starwood as one of the best places to work for companies strategically focused on diversity and inclusion for two years in a row.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
