Happy holidays on behalf of all of us at SPG® — and thank you for sharing your travels with us.

As we look forward to the promise of a New Year, it's also a time to reflect on the past twelve months. A number of amazing new destinations opened their doors in 2009. From the spectacular US$6 billion transformation of Sheraton® hotels and the global expansion of our chic W® hotels into world-class destinations like Barcelona and Santiago, to the growth of our newest brands, AloftSM and ElementSM, your choices have increased to more than 940 hotels and resorts across our nine unique brands.

We also continued to enhance many aspects of our program based on your feedback, including offering rewarding promotions such as Night After Night and Free Weekends, to help you make the most of your travel.

We'll continue to stay focused on what matters to you in 2010. In fact, we're pleased to announce that peak season Starpoints® pricing will be eliminated again for next year. This is the first of many efforts to celebrate the start of a new decade.

Have a safe and happy holiday season, and thank you again for traveling with SPG.