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Travel firm signaling confidence in business?

Sometimes companies tell you things in ways that are less than obvious. This may be one of those cases.

That is, "last week Starwood announced a notoriously big $2.60 per share special dividend," said Jim Cramer.

"And they're going to pay out that $2.60 in four installments over the next four quarters, which means for the next twelve months, including the special dividend, Starwood's going to have a bountiful 4.9% yield. This was a very shareholder friendly move that, to me, signals real confidence in the underlying business," Cramer explained.

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Looking at the fundamentals, Cramer sees every reason to feel bullish.

Not only does he expect vacation travel to surge as the economy recovers, he also thinks the company is well positioned to profit from business travel. "They manage over a 1000 hotels under brands like Sheraton, Westin, St. Regis, W Hotels, Four Points, and Meridien," Cramer said.

"The US business is doing well. We're near maximum occupancy," admitted Starwood CEO Frits van Paasschen on "Mad Money."

And Cramer likes the business model.

"Starwood knows that it's expertise is in running hotels, not owning real estate, which is why, out of more than 1000 properties they manage, they only own or lease the ground under 47 of them—the rest they either manage without owning the property, or they're franchises. This is a terrific way to grow a hotel business rapidly without having to fork over a lot of capital for real estate development," Cramer said.

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Also Cramer sees Starwood as a play on overseas growth. "Starwood also has some terrific exposure to emerging markets, including China, where their business has held up surprisingly well."

All told, Cramer thinks the company as well as its stock are both facing impresive growth.

"Even though the stock is less than a point off its highs, I wouldn't be surprised if it still has more upside," Cramer said.

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