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SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
STARWOOD HOTELS & RESORTS TRUST
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Shares of Beneficial Interest, Par Value $0.01 Per Share
Share of Common Stock, par value $0.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
855905 20 4
-------------------------------------------------------
(CUSIP Number)
David J. Greenwald, Esq.
Goldman, Sachs & Co.
85 Broad Street, New York, New York 10004
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
February 23, 1998
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SEC 1746(12-91)
<PAGE>
SCHEDULE 13D
CUSIP NO. 855905 20 4 PAGE 2 OF 18 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WHWE L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 2,320,215
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
10 SHARED DISPOSITIVE POWER
2,320,215
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,320,215
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 855905 20 4 PAGE 3 OF 18 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Whitehall Street Real Estate Limited Partnership V
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 2,320,215
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
10 SHARED DISPOSITIVE POWER
2,320,215
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,320,215
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 855905 20 4 PAGE 4 OF 18 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WH Advisors, L.P. V
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 2,320,215
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
10 SHARED DISPOSITIVE POWER
2,320,215
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,230,215
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 855905 20 4 PAGE 5 OF 18 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GS Capital Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 1,862,226
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
10 SHARED DISPOSITIVE POWER
1,862,226
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,862,226
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 855905 20 4 PAGE 6 OF 18 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GS Advisors, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 1,862,226
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
10 SHARED DISPOSITIVE POWER
1,862,226
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,862,226
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 855905 20 4 PAGE 7 OF 18 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Goldman Sachs Group, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 4,952,768
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
10 SHARED DISPOSITIVE POWER
4,952,768
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,952,768
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC/PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 855905 20 4 PAGE 8 OF 18 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Goldman, Sachs & Co.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF; OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 4,952,768
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
10 SHARED DISPOSITIVE POWER
4,952,768
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,952,768
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN/BD/IA
- --------------------------------------------------------------------------------
<PAGE>
CUSIP No. 855905 20 4 PAGE 9 OF 18 PAGES
WHWE L.L.C. ("WHWE"), Whitehall Street Real Estate Limited Partnership
V ("Whitehall"), WH Advisors, L.P. V ("WH Advisors, L.P."), GS Capital Partners,
L.P. ("GS Capital Partners"), GS Advisors, L.P. ("GS Advisors, LP"), Goldman,
Sachs & Co. ("GS&Co.") and The Goldman Sachs Group, L.P. ("GS Group", and,
together with WHWE, Whitehall, WH Advisors, L.P., GS Capital Partners, GS
Advisors, L.P., and GS&Co., the "Reporting Persons")* hereby amend the report on
Schedule 13D, dated January 12, 1998 (the "Schedule 13D"), filed by the
Reporting Persons in respect of the shares of Beneficial Interest, par value
$.01 per share (the "Trust Shares"), of Starwood Hotels & Resorts Trust, a
Maryland real estate investment trust ("Starwood Trust"), and the shares of
Common Stock, par value $.01 per share (the "Corporation Shares", and together
with the Trust Shares, the "Paired Shares"), of Starwood Hotels & Resorts
Worldwide, Inc., a Maryland corporation ("Starwood Corporation", and together
with Starwood Trust, "Starwood"). Capitalized terms used but not defined herein
shall have the meaning attributed to such terms in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of the Schedule 13D is amended as follows:
As of February 23, 1998, GS&Co. and GS Group may be deemed to own
beneficially 560,616 Paired Shares held in client accounts with respect to which
GS&Co. or employees of
- --------
* Neither the present filing nor anything contained herein shall be construed
as an admission that WHWE, Whitehall, WH Advisors, L.P., GS Capital
Partners, GS Advisors, L.P., GS&Co. or GS Group constitute a "person" for
any purpose other than Section 13(d) of the Securities Exchange Act of 1934,
or that WHWE, Whitehall, WH Advisors, L.P., GS Capital Partners, GS
Advisors, L.P., GS&Co. or GS Group constitute a "group" for any purpose.
<PAGE>
CUSIP No. 855905 20 4 PAGE 10 OF 18 PAGES
GS&Co. have voting or investment discretion, or both ("Managed Accounts"). Of
these 560,616 Paired Shares, 526,718 were purchased by GS&Co. in the ordinary
course of its business on behalf of the Managed Accounts and 33,898 were
received as a result of the conversion of shares of ITT (as defined below) held
in Managed Accounts prior to the Merger (as defined below) into Paired Shares
pursuant to the Merger. All purchases of Paired Shares made by GS&Co. on behalf
of the Managed Accounts that were effected since January 2, 1998, the date of
the filing of the Schedule 13D, are set forth on Schedule A hereto and were
effected through The New York Stock Exchange or The Chicago Board of Options
Exchange. The aggregate consideration for the purchases listed on Schedule A was
$919,721.88. In addition, as of February 23, 1998, GS&Co. owned beneficially,
and GS Group may be deemed to own beneficially, 9,256 Paired Shares held in the
ordinary course of its business and received as a result of the conversion of
shares of ITT acquired prior to the Merger into Paired Shares pursuant to the
Merger. GS&Co. and GS Group each disclaims beneficial ownership of Paired Shares
(i) beneficially owned by the Reporting Persons other than GS&Co. and GS Group
or by the Other Limited Partnerships to the extent of the equity interests in
such Reporting Persons or such Other Limited Partnerships held by persons other
than GS&Co, GS Group or their affiliates and (ii) held in Managed Accounts. In
addition, each of the Reporting Persons disclaims beneficial ownership of Paired
Shares to the extent that the Class A EPS, Class B EPS, Realty Partnership Units
and Operating Partnership Units may be exchanged for cash rather than Paired
Shares at the option of Starwood as described in Item 6.
None of the persons listed on Schedules I, II-A or II-B to Schedule 13D
has contributed any funds or other consideration towards the purchase of the
securities of Starwood
<PAGE>
CUSIP No. 855905 20 4 PAGE 11 OF 18 PAGES
reported in this amendment, except insofar as they may be general or limited
partners of certain of the Reporting Persons or the Other Limited Partnerships
and have made capital contributions to such Reporting Persons or such Other
Limited Partnerships, as the case may be.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is amended as follows:
(a) The information set forth below in this amendment to Item 5 is
presented on the same basis used in Item 5 to the Schedule 13D, except that the
percentage of Paired Shares held by each Reporting Person presented below is
presented on the basis (the "Percentage Basis") of the number of Paired Shares
reported to be outstanding as of February 23, 1998 (as reported in Starwood's
definitive Schedule 14A, filed January 15, 1998, as adjusted to give effect to
the issuance of additional Paired Shares in connection with the Merger (as
defined below)).
As of February 23, 1998, WHWE beneficially owned, and Whitehall and WH
Advisors, L.P. may be deemed to beneficially own, 2,320,215 Paired Shares,
representing approximately 1.2% of the outstanding Paired Shares (presented on
the Percentage Basis).
As of February 23, 1998, GS Capital Partners beneficially owned, and GS
Advisors, L.P. may be deemed to beneficially own, 1,862,226 Paired Shares,
representing less than 1.0% of the outstanding Paired Shares (presented on the
Percentage Basis).
As of February 23, 1998, GS&Co. and GS Group may be deemed to
beneficially own (i) the 4,182,441 Paired Shares that may be deemed to be
beneficially owned by the Reporting Persons as described above, (ii) 200,455
Paired Shares that may be deemed to be beneficially owned
<PAGE>
CUSIP No. 855905 20 4 PAGE 12 OF 18 PAGES
by the Other Limited Partnerships, (iii) 560,616 Paired Shares held in Managed
Accounts and (iv) 9,256 Paired Shares held in the ordinary course of business of
GS&Co. and received as a result of the conversion of shares of ITT acquired in
ordinary course trading activities prior to the Merger into Paired Shares
pursuant to the Merger, representing in the aggregate approximately 2.6% of the
Paired Shares (presented on the Percentage Basis).
GS& Co. and GS Group each disclaims beneficial ownership of Paired
Shares (i) beneficially owned by the Reporting Persons other than GS&Co. and GS
Group or by the Other Limited Partnerships to the extent of the equity interests
in such Reporting Persons or such Other Limited Partnerships held by persons
other than GS&Co, GS Group or their affiliates and (ii) held in Managed
Accounts. In addition, each of the Reporting Persons disclaims beneficial
ownership of Paired Shares to the extent that the Class A EPS, Class B EPS,
Realty Partnership Units and Operating Partnership Units may be exchanged for
cash rather than Paired Shares at the option of Starwood as described in Item 6
to Schedule 13D.
None of the Reporting Persons, and to the knowledge of the Reporting
Persons, none of the persons listed in Schedule I, Schedule II-A and Schedule
II-B to Schedule 13D, beneficially owns any Paired Shares other than as set
forth herein.
(b) Each Reporting Person shares the power to vote or direct the vote and
dispose or direct the disposition of the Paired Shares beneficially owned by
such Reporting Persons as indicated in pages 2 through 8 above.
(c) Except as set forth on Schedule A and in connection with the
Transaction, none of the Reporting Persons and, to the knowledge of the
Reporting Persons, none of the persons listed on
<PAGE>
CUSIP No. 855905 20 4 PAGE 13 OF 18 PAGES
Schedule I, Schedule II-A or Schedule II-B to Schedule 13D, has been party to
any transaction in the Paired Shares during the period from January 2, 1998, the
date of the filing of the Schedule 13D, through February 23, 1998. Schedule A
sets forth the transactions in the Paired Shares and certain options which have
been effected by GS&Co. during the period from January 3, 1998 through February
23, 1998 all of which were effected in the ordinary course of business of GS&Co.
(d) No change.
(e) On February 23, 1998, pursuant to the Agreement and Plan of Merger,
dated as of October 19, 1997, among Starwood Corporation, Chess Acquisition
Corp., a Nevada corporation and a controlled subsidiary of Starwood Corporation
("Chess"), Starwood Trust and ITT Corporation, a Nevada corporation ("ITT"),
Chess merged with and into ITT (the "Merger") and the former stockholders of ITT
received cash and an aggregate of 126,716,121 Paired Shares. As a result of the
issuance of the Paired Shares in connection with the Merger, each of the
Reporting Persons ceased to be the beneficial owner of more than five percent of
the outstanding Paired Shares.
<PAGE>
CUSIP No. 855905 20 4 PAGE 14 OF 18 PAGES
SIGNATURE
After reasonable inquiry and to our best knowledge and belief, we
certify that the information set forth in this statement is true complete and
correct.
Dated: March 5, 1998
WHWE L.L.C.
By: Whitehall Street Real Estate
Limited Partnership V,
Member and Manager
By: WH Advisors, L.P. V,
its general partner
By: WH Advisors, Inc. V,
its general partner
By: /s/ Stuart Rothenberg
----------------------------------
Name: Stuart Rothenberg
Title: Vice President
WHITEHALL STREET REAL ESTATE
LIMITED PARTNERSHIP V
By: WH Advisors, L.P. V,
its general partner
By: WH Advisors, Inc. V,
its general partner
By: /s/ Stuart Rothenberg
----------------------------------
Name: Stuart Rothenberg
Title: Vice President
<PAGE>
CUSIP No. 855905 20 4 PAGE 15 OF 18 PAGES
WH ADVISORS, L.P. V,
By: WH Advisors, Inc. V,
its general partner
By: /s/ Stuart Rothenberg
----------------------------------
Name: Stuart Rothenberg
Title: Vice President
GS CAPITAL PARTNERS, L.P.
By: GS Advisors, L.P.,
its general partner
By: GS Advisors, Inc.,
its general partner
By: /s/ Richard A. Friedman
----------------------------------
Name: Richard A. Friedman
Title: President
GS ADVISORS, L.P.
By: GS Advisors, Inc.,
its general partner
By: /s/ Richard A. Friedman
----------------------------------
Name: Richard A. Friedman
Title: President
<PAGE>
CUSIP No. 855905 20 4 PAGE 16 OF 18 PAGES
THE GOLDMAN SACHS GROUP, L.P.
By: The Goldman Sachs Corporation,
its general partner
By: /s/ Richard A. Friedman
----------------------------------
Name: Richard A. Friedman
Title: Executive Vice President
GOLDMAN, SACHS & CO.
By: /s/ Richard A. Friedman
----------------------------------
Name: Richard A. Friedman
Title: Managing Director
<PAGE>
CUSIP No. 855905 20 4 PAGE 17 OF 18 PAGES
SCHEDULE A
Starwood Hotels & Resorts Trust
CUSIP NO. Purchases Sales Price Trade Date Settlement Date
--------- --------- ----- ----- ---------- ---------------
855905-20-4 5,000 55 1/16 28-Jan-98 2-Feb-98
855905-20-4 5,000 55 28-Jan-98 2-Feb-98
855905-20-4 250 53 1/8 29-Jan-98 3-Feb-98
855905-20-4 2,000 53 2/4 29-Jan-98 3-Feb-98
855905-20-4 1,800 54 7/8 16-Jan-98 22-Jan-98
855905-20-4 1,000 54 7/8 16-Jan-98 22-Jan-98
855905-20-4 2,500 52 1/8 10-Feb-98 13-Feb-98
855905-20-4 5,000 52 5/8 10-Feb-98 13-Feb-98
855905-20-4 5,000 52 10-Feb-98 13-Feb-98
855905-20-4 7,500 52 2/4 10-Feb-98 13-Feb-98
855905-20-4 20,000 53.805 11-Feb-98 17-Feb-98
855905-20-4 5,000 54 12-Feb-98 18-Feb-98
855905-20-4 12,500 54.15 13-Feb-98 19-Feb-98
855905-20-4 7,500 54.333 13-Feb-98 19-Feb-98
855905-20-4 10,000 54.656 17-Feb-98 20-Feb-98
855905-20-4 5,000 54 5/8 18-Feb-98 23-Feb-98
855905-20-4 200,000 53.136 19-Feb-98 24-Feb-98
855905-20-4 46,000 53.056 19-Feb-98 24-Feb-98
855905-20-4 49,000 53 20-Feb-98 25-Feb-98
855905-20-4 700 53 9/16 23-Jan-98 28-Jan-98
855905-20-4 1,300 57 3/16 7-Jan-98 12-Jan-98
855905-20-4 100 57 3/4 5-Jan-98 8-Jan-98
855905-20-4 860 57 1/4 6-Jan-98 9-Jan-98
855905-20-4 1,400 52 7/16 10-Feb-98 13-Feb-98
855905-20-4 200 52 1/8 30-Jan-98 4-Feb-98
855905-20-4 400 53 15/16 22-Jan-98 27-Jan-98
855905-20-4 500 52 3-Feb-98 6-Feb-98
855905-20-4 3,500 51 15/16 30-Jan-98 4-Feb-98
855905-20-4 600 52 9-Feb-98 12-Feb-98
855905-20-4 600 53 3/4 15-Jan-98 21-Jan-98
855905-20-4 5,000 53 13/16 19-Feb-98 24-Feb-98
855905-20-4 1,250 52 7/16 30-Jan-98 4-Feb-98
<PAGE>
CUSIP No. 855905 20 4 PAGE 18 OF 18 PAGES
CUSIP NO. Purchases Sales Price Trade Date Settlement Date
--------- --------- ----- ----- ---------- ---------------
855905-20-4 2,000 54 1/8 15-Jan-98 21-Jan-98
855905-20-4 2,000 57 3/4 5-Jan-98 8-Jan-98
855905-9A-K 80 0 1/4 13-Jan-98 14-Jan-98
855905-9A-K 80 0 5/8 13-Jan-98 14-Jan-98
855905-9B-J 20 2 7/8 2-Feb-98 3-Feb-98
855905-9B-J 20 2 20-Feb-98 23-Feb-98
855905-9B-K 20 0 5/8 2-Feb-98 3-Feb-98
855905-9N-J 20 0 1/4 20-Feb-98 23-Feb-98
855905-9N-J 20 0 1/16 20-Feb-98 23-Feb-98
855905-9N-J 20 1 3/8 12-Jan-98 13-Jan-98
855905-9N-J 100 0 7/8 2-Feb-98 3-Feb-98
855905-9O-J 20 1 3/8 5-Feb-98 6-Feb-98
855905-9O-J 10 2 2-Feb-98 3-Feb-98
855905-9O-J 90 1 3/4 2-Feb-98 3-Feb-98
