©2012 STARWOOD HOTELS & RESORTS WORLDWIDE, INC. | Proprietary & Confidential

STARWOOD HOTELS AND RESORTS INVESTOR PRESENTATION RAYMOND JAMES 33RD INSTITUTIONAL INVESTORS CONFERENCE

JASON KOVAL, VP, INVESTOR RELATIONS

MARCH 5, 2012

©2012 STARWOOD HOTELS & RESORTS WORLDWIDE, INC. | Proprietary & Confidential

FORWARD-LOOKING STATEMENTS These presentations contain forward-looking statements within the meaning of federal securities regulations. These forward-looking statements generally can be identified by reference to future periods or by phrases such as Starwood or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements in this release that describe the Company‟s business strategy, outlook, objectives, plans, intentions, scenarios or goals also are forward-looking statements. In particular, this presentation includes possible future scenarios should our industry experience a „normal‟ recovery over the next few years, which scenarios are premised upon a number of specific and important assumptions that may prove to be incorrect. Forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Future results, performance and achievements may be affected by general economic conditions including the severity and duration of any downturn and subsequent recovery in the lodging industry and U.S. or global economy generally, the impact of war and terrorist activity, business and financing conditions, including the availability of mortgage financing, foreign exchange fluctuations, cyclicality of the real estate, including the sale of residential units, and the hotel and vacation ownership businesses, operating risks associated with the sale of residential units, hotel and vacation ownership businesses, relationships with associates, customers and property owners, the impact of the internet reservation channels, our reliance on technology, domestic and international political and geopolitical conditions, competition, governmental and regulatory actions (including the impact of changes in U.S. and foreign tax laws and their interpretation), travelers‟ fears of exposure to contagious diseases, risk associated with the level of our indebtedness, risk associated with potential acquisitions and dispositions, and other circumstances and uncertainties. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Please note that these presentations include non-GAAP financial measures. For definitions of certain terms used herein and a presentation of the most directly comparable financial measure calculated and presented in accordance with GAAP and a reconciliation of the differences between the non-GAAP financial measure disclosed and the most comparable financial measure calculated and presented in accordance with GAAP, please refer to the Company‟s web site at www.starwoodhotels.com.corporate/investor_relations.html.

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©2012 STARWOOD HOTELS & RESORTS WORLDWIDE, INC. | Proprietary & Confidential

WELL POSITIONED TO CONTINUE DELIVERING INDUSTRY LEADING RETURNS

STARWOOD

STRATEGY

THE

STARWOOD

ADVANTAGE

UNPRECEDENTED

MARKET

OPPORTUNITY + +

3

147%

67%

10%

0%

50%

100%

150%

10 YEAR RETURN

HOT

MAR

S&P

Ten year total shareholder returns from 12/31/01 through 12/31/11

©2012 STARWOOD HOTELS & RESORTS WORLDWIDE, INC. | Proprietary & Confidential

OWNING HOTELS

U.S. CENTRIC

PRICE POINT SEGMENTATION

OWNING GUESTS & CUSTOMERS

GLOBAL ENTERPRISE

LIFESTYLE SEGMENTATION

STARWOOD STRATEGY

4

DRIVES

INDUSTRY

LEADING

RETURNS

OWNING HOTELS

OWNING GUESTS & CUSTOMERS

Milestones:

» Sold 112 hotels since 2000 for $7.7 billion

» Transforming transaction:

» Sale of 33 hotels (16,000 rooms) to Host in 2006 for $4.1 billion

» Distribution of $2.8 billion to shareholders 5

Owned/

SVO

40%

Fees

60%

STARWOOD 2000 STARWOOD 2011 TARGET

Notes: Percentages represent earnings before selling, general and administrative expenses.

All references to Owned/Leased throughout the presentation represent Owned, Leased and Consolidated Joint Venture hotels.

*

*Excluding Bal Harbour earnings

Owned/SVO

84%

Fees

16%

OWNING HOTELS OWNING GUESTS

6

Owned/

SVO

<20%

Fees

>80%

©2012 STARWOOD HOTELS & RESORTS WORLDWIDE, INC. | Proprietary & Confidential

SPG - BEST LOYALTY PROGRAM IN THE BUSINESS

» 14.6 Million SPG Members

» 44% reside outside the US

» Award-winning loyalty program & co-brand credit card

» Richest elite tier benefits

» First to offer no blackouts and no restrictions on Free Night redemption

» SPG drives 50% of stays worldwide

» Members are more resilient even in downturn

AWARD-WINNING

HOTEL

COLLECTION

SPG AMEX

» More luxury and upscale hotels than other

programs

» 50+ Gold List awards

» 70 Travel + Leisure award winners

» Multiple “best travel/affinity card” awards

UNIQUE

REDEMPTION

OPTIONS

» SPG Flights: Hundreds of airlines, no blackouts

» SPG Moments: Once in a lifetime experiences that

members bid on

» SPG Cash + Points

RICH PROMOTIONS » Campaigns designed to shift share and drive

transaction volume

» iPhone App: First hotel loyalty program to offer

» Social Media: Presence on Twitter, Facebook, etc.

CUTTING EDGE

COMMUNICATIONS

Differentiation Builds Customer Loyalty

7

©2012 STARWOOD HOTELS & RESORTS WORLDWIDE, INC. | Proprietary & Confidential

8

PRICE POINT SEGMENTATION

LIFESTYLE SEGMENTATION

Milestones:

» Launch of W (1998)

» Westin “Heavenly” Launch (1999)

» Sheraton Revitalization (2007)

» Launch of Aloft and Element (2008)

» Global Expansion of W (2009) 8

INDIVIDUAL SPIRIT COLLECTIVE STRENGTH » Starwood‟s brands lie at

the heart of our competitive advantage

» Distinguished by a combination of Lifestyle Concepts, Design Leadership, and Innovation

» Collective strength of SPG and Starwood centralized services (Sales, Rev Management, Web) unify our brands and drive performance

9

STARWOOD COMBINES EXPERIENCES WITH DESIGN » Our guests don‟t just

check in to a hotel. They are immersed in an experience.

» At Starwood, design doesn‟t begin with a blueprint. It begins with a story. And for each of our nine brands, that story captures the emotions and aspirations of our guests.

» Design That Can Only Be Starwood.

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ST. REGIS AFICIONADO ™ ST. REGIS AFICIONADO ™

ST. REGIS BUTLER

W LIVING ROOM

LE MERIDIEN HUB

WESTIN EAT WELL

SHERATON CLUB

FOUR POINTS BEST BREWS

ALOFT REMIX LOUNGE

ELEMENT EVENING RECEPTION

U.S. CENTRIC

GLOBAL ENTERPRISE

Milestones:

» Added 386 Managed and Franchised hotels (92,000 rooms) since 2000

» 70% (64,000 rooms) outside the U.S.

» Transforming transaction: Acquisition of Le Méridien

» 122 hotels (32,000 rooms)

» 95% non-U.S., ~$50 million fees for $250 million 11

U.S.

43%

Non-U.S.

57%

U.S.

70%

Non-U.S.

30%

U.S.

20%

Non-U.S.

80%

STARWOOD 2000 STARWOOD 2011 TARGET

Note: Percentages represent hotel business earnings.

U.S. CENTRIC GLOBAL ENTERPRISE

12

97,000 Existing

Rooms

69,000

Room

Emerging

Market

Pipeline

71% Unit

Growth

Potential in

Emerging

Markets

LEADING EMERGING MARKETS GROWTH

*Pipeline outside of Europe and the U.S. is shown as emerging

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©2012 STARWOOD HOTELS & RESORTS WORLDWIDE, INC. | Proprietary & Confidential

Leading innovative and design-led brands

Most global high end hotel company

Faster and smarter growth

High value owned portfolio

Aligned and experienced and global team

INDUSTRY LEADING RETURNS FOR OUR

STAKEHOLDERS

STARWOOD ADVANTAGE

14

» Best lifestyle hospitality brands with four and five star focus

» 1,090 properties

» 322,346 rooms

» Opened 389 hotels since 2007

» Nearly 100 countries

» 28 hotels

» 6,000 rooms

» 13 countries

»Uncompromising,

Address, Bespoke

» 76 hotels

» 14,505 rooms

» 28 countries

» Exceptional,

Indigenous, Experience

» 41 hotels

» 11,946 rooms

» 16 countries

» Flirty, Insider,

Escape

» 185 hotels

» 71,757 rooms

» 36 countries

» Personal, Instinctive,

Renewal

» 415 hotels

» 144,648 rooms

» 70 countries

» Warm, Connected,

Community

» 99 hotels

» 25,629 rooms

» 42 countries

» Chic, Cultured,

Discovery

» 55 hotels

» 8,701 rooms

» 9 countries

» Sassy, Savvy, Space

» 9 hotels

» 1,432 rooms

» one country

» Smart, Alive,

Balance

» 159 hotels

» 27,861 rooms

» 28 countries

» Honest, Uncomplicated,

Comfort

LUXURY

UPPER

UPSCALE

SELECT

SERVICE

INNOVATIVE AND DESIGN-LED BRANDS

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Source: Smith Travel Research, company data

MOST GLOBAL HIGH END HOTEL COMPANY

35% 39% 39%

Starwood Marriott Hilton Hyatt

32k rooms 52k rooms 15k rooms 28k rooms

53% International

242k rooms 245k rooms 242k rooms 75k rooms

Lu

xu

ry

Up

per

U

psc

ale

16 40

104

100

146

H

MAR

HLT

HOT

INTERNATIONAL OPERATING LUXURY/

UPPER UPSCALE ROOMS (in 000s)

17

International

International

International

International

North

America

North America

North America

North America

Hyatt

Hilton

Marriott

» Faster, Smarter growth

» Pipeline consists of 350 hotels with 90,000 rooms

» 85% of pipeline is located outside of North America

» 75% of pipeline is in upper upscale and luxury

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GLOBAL DIVISIONAL OFFICES

PIPELINE GROWTH (%)

17%

24%

29%

28% Starwood

Sources: HOT 4Q11 earnings release, MAR 4Q11 earnings release, H 4Q11 earnings release, Hilton 1/24/12 press release

Note: Percentage calculated as pipeline divided by existing rooms

INDUSTRY LEADING PIPELINE

17

ST. REGIS FLORENCE | ITALY

THE PHOENICIAN, SCOTTSDALE | U.S.

» 59 hotels with 19,402 rooms

» The Phoenician

» The St. Regis New York

» St. Regis Hotel, San

Francisco

» St. Regis Bal Harbour

Resort

» W Los Angeles

» W Chicago Lakeshore

» W Times Square

» Westin Maui

» The Westin Peachtree

» Sheraton Kauai

» The Manhattan at Times

Square Hotel

HIGH VALUE GLOBAL OWNED PORTFOLIO

U.S.

» Sheraton Buenos Aires

» Park Tower, Buenos

Aires

» Sheraton Maria Isabel

(Mexico City)

» Sheraton Rio

» St. Regis Florence

» Westin Excelsior, Rome

» W Barcelona

» Hotel Gritti Palace

» Hotel Imperial

» The St. Regis Rome

» Sheraton Toronto

» Sheraton Montreal

» Sheraton Toronto

Airport

» Sheraton Sydney

» Sheraton Fiji

Other Europe Latin America

18

ALIGNED AND EXPERIENCED TEAM » Continuity among Senior

Leadership Team

» Division presidents with over 120 years combined experience

» Record high Associate engagement

Leads to Better Guest Experiences

19

Secular growth business

Below trend supply growth in Developed Markets

Owned hotels a “coiled spring”

Secular demand in Emerging Markets

Changing travel patterns

Cash from vacation ownership and Bal Harbour

INDUSTRY LEADING RETURNS FOR OUR

STAKEHOLDERS

UNPRECEDENTED MARKET OPPORTUNITY

20

$0

$10

$20

$30

$40

$50

$60

$70

Sources: US data; PWC (lodging 1967-1986); STR (lodging 1987-2011); U.S. Bureau of Labor Statistics U.S. Price Inflation (CPI-U, Annual Average)

Nominal RevPAR

Real RevPAR

(2011 dollars)

7 Years 7 Years 10 Years 10 Years

LODGING IS A SECULAR GROWTH BUSINESS WITH CYCLES

21

21%

25%

21%

13%

0%

5%

10%

15%

20%

25%

30%

1970s 1980s 1990s 2000s

U.S. ROOMS ADDED (%)

2.5%

3.0%

2.0%

0.4%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

2008 2009 2010 2011 2012-

2014 E

U.S. PIPELINE ROOMS

Sources: Smith Travel Research, PWC

BELOW-TREND SUPPLY GROWTH IN DEVELOPED MARKETS

<1%

22

$495

$300

$530

$269

?

0

100

200

300

400

500

600

2000 2003 2007 2009 Future

EARNINGS

Note: Earnings represents Owned/Leased hotel operating revenue less operating expenses

34.5%

22.7%

27.1%

18.2%

?

0%

5%

10%

15%

20%

25%

30%

35%

2000 2003 2007 2009 Future

MARGIN

WW OWNED/LEASED

HOTEL EARNINGS (Same Store Owned/Leased Portfolio)

(39%) +77%

(49%)

(11.8) pts

+4.4 pts (8.9) pts

OWNED HOTELS A “COILED SPRING”

Path to Peak Initiatives

» Global Revenue Management » Lean Operations

» Sales Optimization » Food and Beverage 23

Developed

Emerging

Developed

Emerging

Developed

Emerging

GDP 2011 GDP 2010-2020

Sources: International Monetary Fund, UNWTO World Tourism Organization *Pipeline outside of Europe and the U.S. is shown as emerging

PIPELINE OF

90,000 ROOMS

SECULAR DEMAND GROWTH IN EMERGING MARKETS

24

THE WORLD IS CHANGING IN OUR FAVOR » 3 billion people entering

the global economy

» Regional travel patterns are evolving

» Enormous outbound travel opportunity

» Best brands will drive disproportionate market share growth

25

ST. REGIS BAL HARBOUR RESORT | U.S.

WESTIN DESERT WILLOW | U.S.

CASH FROM VACATION OWNERSHIP AND BAL HARBOUR

Generated $700 million in cash since 2009

Right-sized the business to be a smaller future contributor

Drives new SPG members and loyalty

307 residential units

Expected to generate over $600M of cash through close out

Iconic 210 room St. Regis hotel

#1 most anticipated hotel opening of 2012 according to Forbes

STARWOOD

VACATION

OWNERSHIP

ST. REGIS

BAL HARBOUR

26

SHERATON BUENOS AIRES HOTEL &

CONVENTION CENTER | ARGENTINA

ST. REGIS NEW YORK | U.S.

OUTLOOK

FY 2012

BASELINE

SCENARIO

WW Owned & Managed RevPAR1 +5 - 7%

Managed & Franchised Revenues +8 - 10%

SVO & Residential Earnings $150 - $155 MM

Bal Harbour Earnings $80 MM

Adjusted EBITDA $1,140 - $1,170 MM

EPS $2.22 - $2.33

1.Constant dollars

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