Starwood Hotels
| Campaign to Fix the Debt Company Profile | |
|---|---|
| Company Name | Starwood Hotels & Resorts |
| CEO Name | Frits van Paasschen |
| CEO Compensation | $8,855,858 |
| CEO Retirement Assets | $632,729 |
| Underfunded Company Pension | -$20,000,000 |
| Annual Company Revenue | $5,624,000,000 |
| Territorial Tax Break | $805,000,000 |
| Federal Lobbying/Political Donations ('09-'12*) | $1,690,000 |
| Click here for sources. 2011 data unless otherwise noted. ©2013 Center for Media and Democracy | |
Starwood Hotels & Resorts Worldwide is one of the world's largest hotel companies, located in some 100 countries. Its brands are St. Regis, The Luxury Collection, W Hotels, Westin, Le Meridien, Sheraton, and Four Points by Sheraton. In 2011 the company posted revenues of $5,624,000,000.[1] In 2006, it had sales of nearly $6 billion and profits of $1 billion.[2][3]
In September 2016, the company was acquired by Marriott International.
Ties to Pete Peterson's "Fix the Debt"
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Starwood Hotels is part of the Campaign to Fix the Debt as of February 2013.
This article is part of the Center for Media and Democracy's investigation of Pete Peterson's Campaign to "Fix the Debt." Please visit our main SourceWatch page on Fix the Debt.
| About Fix the Debt |
|---|
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Through a special report and new interactive wiki resource, the Center for Media and Democracy -- in partnership with the Nation magazine -- exposes the funding, the leaders, the partner groups, and the phony state "chapters" of this astroturf supergroup. Learn more at PetersonPyramid.org and in the Nation magazine.
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Personnel
Key Executives
As of February 2013:[4]
- Frits Van Paasschen, President & Chief Executive Officer, Starwood Hotels & Resorts Worldwide, Inc.
- Vasant M. Prabhu,Vice Chairman & Chief Financial Officer
- Roger Berry,Senior Vice President & Chief Information Officer
- Jeff Cava, Executive Vice President & Chief Human Resources Officer
- Christie Hicks, Senior Vice President, Starwood Sales Organization
- Phil McAveety, Executive Vice President & Chief Brand Officer
- John Petyon, Senior Vice President, Global Initiatives
- Kenneth S. Siegel, Chief Administrative Officer & General Counsel
- Simon Turner, President, Global Development
- Mark R. Vondrasek, Senior Vice President, Distribution, Loyalty & Partnership Marketing
| Key executives and 2006 pay: [5] | Options exercised |
|||
| Vasant M. Prabhu, Chief Financial Officer | $1,150,000 | $3,030,000 | ||
| Raymond L. Gellein, Jr., President of Global Development | $1,340,000 | $10,020,000 | ||
| Matthew A. Ouimet, President of the Hotel Group | $856,000 | N/A | ||
| Kenneth S. Siegel, Chief Administrative Officer | $1,000,000 | $5,090,000 |
Board of Directors
As of February 2013:[4]
- Bruce W. Duncan, Chairman and President & Chief Executive Officer, First Industrial Realty Trust
- Frits Van Paasschen, President & Chief Executive Officer, Starwood Hotels & Resorts Worldwide, Inc.
- Adam Aron, Chief Executive Officer, Philadelphia 76ers
- Charlene Barshefsky, Senior International Partner, Wilmer, Cutler & Pickering
- Thomas Clarke,President, New Business Ventures, Nike, Inc.
- Clayton C. Daley, Jr., Retired Vice Chair & Chief Financial Officer, Procter & Gamble
- Lizanne Galbreath, Managing Director, Galbreath & Company
- Eric Hippeau, Partner, Lerer Ventures
- Aylwin B. Lewis,P President and Chief Executive Officer, Potbelly Sandwich Works, LLC
- Stephen R. Quazzo, Chief Executive Officer, Managing Director & Co-founder, Pearlmark Real Estate Partners, LLC
- Thomas O. Ryder, Retired Chairman & Chief Executive Officer, Readers Digest Association, Inc.
Former board members include: [6]
- Kneeland C. Youngblood, Managing Partner Pharos Capital Group, L.L.C.
Political contributions
The Starwood Hotels political action committee gave to only one federal candidate in 2006, $5,000 to Jon Kyl (R-AZ). [7]
Lobbying
The company spent $1,220,000 for lobbying in 2006. All of the money went to two lobbying firms, DLA Piper and Clark Consulting Federal Policy Group. [8]
Contact details
1111 Westchester Avenue
White Plains, NY 10604
Phone: 914-640-8100
Fax: 914-640-8591
Web: http://www.starwoodhotels.com
Resources and articles
Featured SourceWatch Articles on Fix the Debt
- Fix the Debt Portal Page
- Fix the Debt's Leadership
- Fix the Debt's Partner Groups
- Fix the Debt's State Chapters
- Fix the Debt's Lobbyists
- Fix the Debt's Parent Group
- Fix the Debt's Corporations
- Pete Peterson
- Peter G. Peterson Foundation
- America Speaks
- Simpson-Bowles Commission
- Erskine Bowles
- Alan Simpson
- Social Security
- Medicare
- Medicaid
- Kneeland Youngblood
- Charlene Barshefsky
- Brenda C. Barnes
References
- ↑ Starwood Hotels & Resorts, "2011 Annual Report", organizational document, page F-49.
- ↑ Starwood Profile, Hoovers, accessed August 2007.
- ↑ Starwood Profile, Yahoo Finance, accessed August 2007.
- ↑ 4.0 4.1 Starwood Hotels & Resorts, "Leadership", organizational website, accessed February 2013
- ↑ Starwood Key Executives, Yahoo Finance, accessed November 2007.
- ↑ Board of Directors, Starwood, accessed August 2007.
- ↑ 2006 PAC Summary Data, Open Secrets, accessed August 2007.
- ↑ Starwood lobbying expenses, Open Secrets.
