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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 10-Q/A
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM TO
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COMMISSION FILE NUMBER: 1-7959 COMMISSION FILE NUMBER: 1-6828
STARWOOD HOTELS & STARWOOD HOTELS &
RESORTS WORLDWIDE, INC. RESORTS
(Exact name of Registrant as specified in its (Exact name of Registrant as specified in its
charter) charter)
MARYLAND MARYLAND
(State or other jurisdiction (State or other jurisdiction
of incorporation or organization) of incorporation or organization)
52-1193298 52-0901263
(I.R.S. employer identification no.) (I.R.S. employer identification no.)
777 WESTCHESTER AVENUE 777 WESTCHESTER AVENUE
WHITE PLAINS, NY 10604 WHITE PLAINS, NY 10604
(Address of principal executive (Address of principal executive
offices, including zip code) offices, including zip code)
(914) 640-8100 (914) 640-8100
(Registrant's telephone number, (Registrant's telephone number,
including area code) including area code)
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Indicate by check mark whether the Registrants (1) have filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrants were required to file such reports), and (2) have been subject to
such filing requirements for the past 90 days. Yes [X] No [ ]
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date:
189,185,601 shares of common stock, par value $0.01 per share, of Starwood
Hotels & Resorts Worldwide, Inc. attached to and traded together with
189,185,601 Class B shares of beneficial interest, par value $0.01 per share, of
Starwood Hotels & Resorts, and 100 Class A shares of beneficial interest, par
value $0.01 per share, of Starwood Hotels & Resorts, all outstanding as of
October 31, 1999.
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STARWOOD HOTELS & RESORTS
CONSOLIDATED STATEMENTS OF OPERATIONS
(IN MILLIONS, EXCEPT PER SHARE DATA)
(UNAUDITED)
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THREE MONTHS
ENDED NINE MONTHS PERIOD FROM
SEPTEMBER 30, ENDED FEBRUARY 23, 1998
-------------- SEPTEMBER 30, TO SEPTEMBER 30,
1999 1998 1999 1998
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REVENUES
Unconsolidated joint ventures and other......... $ -- $ 4 $ 8 $ 5
Rent and interest, Corporation.................. 187 180 552 435
---- ---- ---- ----
187 184 560 440
---- ---- ---- ----
COSTS AND EXPENSES
Selling, general and administrative............. -- 6 -- 12
Depreciation and amortization................... 43 35 132 110
---- ---- ---- ----
43 41 132 122
---- ---- ---- ----
144 143 428 318
Interest expense, net of interest income of $0,
$0, $2 and $0................................. (10) (6) (35) (14)
Losses on sales of real estate.................. (40) -- (40) --
Income tax expense.............................. (1) -- (2) (1)
Minority equity in net income................... (1) (3) (2) (4)
---- ---- ---- ----
Net income...................................... $ 92 $134 $349 $299
==== ==== ==== ====
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The accompanying notes to financial statements are an integral part of the above
statements.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
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STARWOOD HOTELS & RESORTS STARWOOD HOTELS & RESORTS
WORLDWIDE, INC.
By: /s/ RONALD C. BROWN
By: /s/ RONALD C. BROWN -------------------------------------------------
------------------------------------------------- Ronald C. Brown
Ronald C. Brown Vice President and Chief Financial
Executive Vice President and and Accounting Officer
Chief Financial Officer
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Date: November 16, 1999
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