Starwood holds a substantial amount of debt.
In FY2013, the long-term debt of Starwood stood at
$1,265 million.
At the same time, the company's shareholder's equity stood at $3,363 million,
representing a long term debt-equity ratio of around 37.6%.
The interest expense was $100 million
in FY2013, which was 10.8% of the operating profit of the company.
The company's substantial debt may limit its ability to obtain additional financing to fund future working capital, capital expenditures
and other general corporate requirements