Starwood Expands Presence in Brazil with Upcoming Sheraton da Bahia Hotel in Salvador

  Starwood Expands Presence in Brazil with Upcoming Sheraton da Bahia Hotel in
  Salvador

   With this signing, Starwood enters ‘Salvador da Bahia’, the second most
   important tourist destination in Brazil and is on track to open its 9^th
                       property in the country by 2014

Business Wire

STAMFORD, Conn. -- December 19, 2012

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) has partnered with GJP
Hotéis & Resorts to expand the presence of its global powerhouse brand
Sheraton Hotels & Resorts in Brazil. Sheraton da Bahia Hotel  will be located
in  Salvador, one of the most important tourist destinations in the country.
The 284-room historic Hotel da Bahia is currently undergoing an extensive
renovation and will re-open to its full splendor by Q1 2013. It will be
operated by local hotelier GJP Hotéis & Resorts under a franchise agreement.

“We are thrilled to expand our portfolio of Sheraton hotels in Brazil and
partner with GJP Hotéis & Resorts to open our first hotel in Salvador, one of
the country’s most important cities,” said Osvaldo Librizzi, Co-President of
Starwood Hotels & Resorts Americas. “This additional hotel in Brazil,
highlights our distinctive positioning in this fast-growing market and the
strength of the Sheraton brand in the upper upscale hotel segment.”

Starwood currently operates seven properties in Brazil under the Sheraton and
Four Points by Sheraton brands. Sheraton da Bahia Hotel will be the 6^th
Sheraton in Brazil marking another important step in the brand’s global
expansion plan to reach a milestone of 500 Sheraton properties by 2015. A 7^th
Sheraton, Starwood’s 9^th property in the country, is scheduled to open by Q1
2014, the Sheraton Reserva do Paiva Hotel and Conference Center in Recife.

“This is a historic time for the Sheraton brand. Starwood has invested
billions of dollars in renovating iconic properties and bringing the brand to
the most important places in the world,” said Hoyt Harper, Global Brand Leader
for Sheraton Hotels. “Brazil is now a powerhouse economy whose prominence
around the world will be permanently established with the upcoming World Cup
and Olympic Games, and Sheraton is thrilled to expand its presence there
during these exciting times.”

When it reopens as Sheraton da Bahia Hotel in Q1 2013, it will feature 284
guest rooms, including 16 suites, all featuring the brand’s signature
all-white Sheraton Sweet Sleeper Bed and an exclusive Sheraton Club Lounge.
The heart of the lobby will feature the brand’s Link@Sheraton ^ experienced
with Microsoft^® - Sheraton’s signature social hub where connections, whether
face-to-face or via webcam, can take place. The hotel will also offer two
restaurants, the brand’s signature Sheraton Fitness programmed by Core
Performance^® with a spacious work out space, a 1,938 square feet spa with a
salon and sauna, swimming pool, business center, and a large meetings and
event facility comprising more than 27,000 square feet of flexible space with
capacity for over 400 people.

The hotel is strategically located in the city center and has direct access to
Sete de Setembro Avenue, a major roadway that connects the city.

“This property presented a great conversion opportunity for Starwood based on
the strength of the Sheraton brand in Brazil. It follows other successful
conversions, including the Sheraton São Paulo WTC and the Sheraton Vitoria
Hotel, which opened earlier this year,” said Ricardo Suarez, Vice President of
Acquisitions and Development for Starwood Hotels & Resorts in Latin America.
“Starwood is excited about the continued expansion of the iconic Sheraton
brand in Latin America. Today, we have the largest upper-upscale footprint in
the region with more than 30 Sheraton hotels in 11 countries. In 2013, we will
continue to bring the brand to the most important cities in Latin America as
part our aggressive expansion strategy.”

Salvador is one of the most prominent tourist destination in Brazil, and is
considered one of the country’s most important ports and international trading
centers. The hotel will cater to both business and leisure travelers who are
looking for an internationally branded hotel they know and trust.

Salvador the capital of the state of Bahia has a rich history and was declared
World Heritage Site by Unesco in 1985. Thanks to its notable cultural
attractions, cuisine, music, beaches and architecture, Salvador is today the
second largest tourist destinations in Brazil, after Rio de Janeiro.

“The partnership with the Sheraton brand will greatly enhance GJP Hotéis &
Resorts, the brand is a global icon in the hospitality industry, which now
arrives in Salvador, at the Hotel da Bahia. The city deserves this
accomplishment which will enrich the value of local and national tourism in
Brazil, including corporate travel”, said Guilherme Paulus, President GJP
Hotéis & Resorts.

The hotel is currently undergoing a meticulous renovation that will preserve
the charms and jewels of the historic building, such as the façade with its
beautiful tiles and prominent works of art, including the grand murals by
Genaro de Carvalho picturing local festivities from Bahia, protected by the
IPAC – Institute of Arts and Cultural Heritage of Bahia State since 1981, as
well as three other large murals by renowned Argentine artist Carybé,
especially commissioned for the hotel picturing scenes from the Brazilian
lifestyle located in the hotel’s lobby area.

About Sheraton Hotels & Resorts

Sheraton helps guests make connections at more than 400 hotels in 70 countries
around the world and recently completed a $6 billion global revitalization and
is now in the midst of a $5 billion global expansion over the next three
years. Sheraton is owned by and is the largest and most global brand of
Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and
leisure companies in the world with 1,128 properties in 100 countries and
territories with 154,000 employees at its owned and managed properties.
Starwood Hotels is a fully integrated owner, operator and franchisor of
hotels, resorts and residences with the following internationally renowned
brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®,
Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, and
Element SM. The company boasts one of the industry’s leading loyalty programs,
Starwood Preferred Guest (SPG), allowing members to earn and redeem points for
room stays, room upgrades and flights, with no blackout dates. Starwood Hotels
also owns Starwood Vacation Ownership, Inc., one of the premier developers and
operators of high quality vacation interval ownership resorts. For more
information, please visit www.starwoodhotels.com.

About GJP Hotéis & Resorts

GJP Hotéis & Resorts has more than 1.3 thousand employees, with more than 15
hotels and resorts around Brazil, of which one is currently under construction
and one already scheduled to open in the first quarter 2013. Of the 15
properties, seven are owned and eight are under a management contract. The
operating company is owned by GJP Participações, holding that also owns 36,7%
of CVC Viagens, amongst other business. GJP Hotels & Resorts are present in
Gramado (RS), Porto de Galinhas (PE), Maceió (AL), Natal (RN), Porto Seguro
(BA), Foz do Iguaçu (PR), Barra do Piraí (RJ), Rio de Janeiro (RJ), Aracaju
(SE) and now Salvador (BA). For more information, please visit: www.gjp.com.br

Note: This press release contains forward-looking statements within the
meaning of federal securities regulations. Forward-looking statements are not
guarantees of future performance and involve risks and uncertainties and other
factors that may cause actual results to differ materially from those
anticipated at the time the forward-looking statements are made. Further
results, performance and achievements may be affected by general economic
conditions, including the duration and severity of any global or regional
economic downturns, the availability of financing alternatives at acceptable
terms, the impact of war and terrorist activity, business and financing
conditions, foreign exchange fluctuations, cyclicality of the real estate
(including residential) and the hotel and vacation ownership businesses,
operating risks associated with the hotel, vacation ownership and residential
businesses. These risks and uncertainties are presented in detail in our
filings with the Securities and Exchange Commission. Although we believe the
expectations reflected in such forward-looking statements are based upon
reasonable assumptions, we can give no assurance that our expectations will be
attained or that results will not materially differ. We undertake no
obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.

Contact:

Media:
Starwood Hotels and Resorts Latin America
Gina Carriazo Hickey, 786-219-5846
Gina.carriazo@starwoodhotels.com
or
Starwood Hotels and Resorts Brazil
Sarah Moreira, +55 (21) 2529-1110
sarah.moreira@starwoodhotels.com
 
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