Starwood cuts rates for reservation booked by Monday July 20

Hospitality companies cutting rates to attract business is not a new idea in the present economic downturn. however, the sheer size and scope of Starwood's promotion is of note. For those who may not be familiar with the trade name of Starwood Hotels and Resorts, their hotel brands include W, Westin, St Regis, Aloft and the family of Sheraton Brands.

Rates will be cut up to half off rack at nearly 600 of their hotels and resorts.Participating locations in North America, Latin America and the Asia Pacific Region will offer the reduced rates to travelers that make reservations by Monday for stays between Thursday and Oct. 12, 2009.

It is well known in the financial industry that Starwood is highly leveraged and is trying to raise capital. Beyond the rationale of raising capital one must consider the public relations opportunity of providing discounted rates to repeat guests and those who may not be familiar with the brands. The lower rates may offer the opportunity to travelers to book a W, Westin or St. Regis which may have been beyond their budget in the past. 

Of note,Starwood operates 960 properties in 97 countries.