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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
[_] Form 3 Holdings Reported
[_] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
Grose, Madison F.
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(Last) (First) (Middle)
Starwood Capital Group
591 West Putnam Avenue
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(Street)
Greenwich, CT 06630
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(City) (State) (Zip)
USA
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2. Issuer Name and Ticker or Trading Symbol
Starwood Hotels & Resorts Worldwide, Inc./Starwood Hotels & Resorts HOT
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3. IRS or Social Security Number of Reporting Person (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
December 1999
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5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[x] Director [_] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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7. Individual or Joint/Group Reporting
(Check Applicable Line)
[x] Form filed by One Reporting Person
[_] Form filed by More than One Reporting Person
________________________________________________________________________________
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
5. 6.
4. Amount of Owner-
Securities Acquired (A) or Securities ship
Disposed of (D) Beneficially Form: 7.
(Instr. 3, 4 and 5) Owned at End Direct Nature of
2. 3. ----------------------------- of Issuer's (D) or Indirect
1. Transaction Transaction (A) Fiscal Year Indirect Beneficial
Title of Security Date (Month Code Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) Day/Year) (Instr. 8) (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Shares (1) 03/31/99 A (2) 565 A $22.1250 D
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Shares (1) 06/30/99 A (2) 565 A $22.1250 D
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Shares (1) 09/30/99 A (2) 565 A $22.1250 D
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Shares (1) 12/31/99 A (2) 565 A $22.1250 D
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22,416
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</TABLE>
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
(Over)
SEC 2270 (7-96)
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FORM 5 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- Securities Date Securities Price Bene- ity: In-
cise 3. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) 8) (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Option to Purchase
Shares(1) $29.7500 06/30/99 A(3) 4,500 06/30/99 06/30/09 Shares(1) 4,500 4,500 D
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Option to Purchase
Shares(1) $54,6875 04/01/99 J(4) 65,000 (4) 02/17/08 Shares(1) 65,000 65,000 D
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</TABLE>
Explanation of Responses:
/s/ Madison F. Grose February 10, 2000
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**Signature of Reporting Person Date
/s/ Madison F. Grose
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
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Page 2 of 3 SEC 2270 (7-96)
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EXPLANATION OF RESPONSES
Reporting Person Grose, Madison F.
Issuer Name Starwood Hotels & Resorts Worldwide, Inc./ Starwood
Hotels & Resorts
Address Starwood Capital Group
591 West Putnam Avenue
Greenwich, CT 06630
USA
Identification Number
(1) Pursuant to an agreement between Starwood Hotels & Resorts Worldwide, Inc.,
a Maryland corporation (the "Corporation") and Starwood Hotels & Resorts, a
Maryland real estate investment trust (the "Trust" and, together with the
Corporation, "Starwood"), each holder of shares of common stock, par value $.01
per share, of the Corporation (each, a "Corporation Share") owns an equivalent
number of shares of Class B shares of beneficial interest, par value $.01 per
share, of the Trust (each, a "Trust Share"). Corporation Shares and Trust
Shares may be held and traded only in units ("Shares") consisting of one
Corporation Share and one Trust Share.
(2) Under the terms of Starwood's long-term incentive plan (the "LTIP"),
certain eligible Directors of Starwood receive quarterly grants of Shares in an
amount specified by the LTIP.
(3) Under the terms of Starwood's LTIP, certain eligible Directors of Starwood
receive an annual grant of options to purchase Shares in amounts specified by
the LTIP.
(4) Securities reported in this response were transferred to the Reporting
Person pursuant to an agreement dated as of April 1999 between the Reporting
Person and Barry S. Sternlicht (the "April Agreement"), as expressly
contemplated by a Non-Qualified Stock Option Agreement dated February 17, 1998,
between Mr. Sternlicht and the Trust (the "February Agreement"). The February
Agreement gives Mr. Sternlicht the right to transfer to certain officers of
Starwood Capital Group, LLC ("SCG") or of the Trust (including the Reporting
Person), the right to purchase from the Trust an aggregate of up to 500,000
Shares subject to the option granted to Mr. Sternlicht in the February
Agreement. The April Agreement provides that the right to purchase Shares from
the Trust vests at the rate of one-third on each anniversary of the April
Agreement.
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