Starwood Hotels & Resorts Worldwide, Inc. (Starwood) is a hotel and leisure company. The Company conducts its hotel and leisure business both directly and through its subsidiaries. Its brand names include St. Regis (luxury full-service hotels, resorts and residences), Westin (luxury and upscale full-service hotels, resorts and residences), Le Meridien (luxury and upscale full-service hotels, resorts and residences), Sheraton (luxury and upscale full-service hotels, resorts and residences), Four Points (select-service hotels), Aloft (select-service hotels), and Element (extended stay hotels). The Company is organized into two business segments: hotels and vacation ownership and residential. In January 2013, the Company opened its second Westin hotel in Panama. In January 2013, it sold Aloft and Element Lexington to Rockwood Capital. In April 2013, it completed the sale of W New Orleans - French Quarter to Chesapeake Lodging Trust.