Starwood Hotels Announces Exclusive Partnership to Become “Official Hotel of the Chicago Cubs”

  Starwood Hotels Announces Exclusive Partnership to Become “Official Hotel of
  the Chicago Cubs”

  New Hotel Affiliated with Sheraton Brand to be Developed Across the Street
                              from Wrigley Field

Business Wire

CHICAGO -- January 17, 2013

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced it will
become the exclusive hotel and resort partner of the Chicago Cubs, Wrigley
Field, Chicago Cubs Spring Training, Cubs Destinations and Chicago Cubs
Charities. As part of the new long-term partnership, Starwood’s award-winning
loyalty program, Starwood Preferred Guest(R), will give members exclusive
access to a variety of once-in-a-lifetime experiences with the Chicago Cubs
through SPG Moments(SM), beginning with the 2013 season.

“Establishing a strategic partnership with the Chicago Cubs allows Starwood to
tap into our members’ passion for sports and create unique and memorable
experiences,” said Mark Vondrasek, Senior Vice President, Distribution,
Loyalty & Partnership Marketing. “An enhanced presence at Wrigley Field is an
important platform for Starwood to continue delivering unforgettable moments
for our members at one of the top tourist attractions in Chicago.”

Some of the planned experiences include: ‘Surprise and Delight’ seat upgrades
during every home game at Wrigley Field, VIP experiences with players and team
management such as serving as ‘Honorary Team Manager for a Day,’ access to the
SPG luxury suite behind home plate, and opportunities to bid for VIP access to
Cubs Spring Training and Cubs Destinations trips. To explore Cubs Spring
Training packages, please visit spg.com/moments.

“We are excited to partner with Starwood and their SPG loyalty program to
provide our fans with nine lifestyle hotel brands and over 1,100 distinctive
properties to choose from around the world,” said Wally Hayward, Chief Sales &
Marketing Officer, Chicago Cubs. “Starwood’s innovative properties will also
make players and fans feel at home when we’re on the road this season.”

Cubs fans can book Starwood hotels for Cubs home and road games thru cubs.com
or spg.com. The Starpoints® earned for their stays can then be transformed
into unique Cubs experiences through SPG Moments.

New Hotel to be Developed Across from Wrigley Field

Starwood also announced today the Ricketts family has signed an agreement to
develop a boutique hotel affiliated with the Sheraton brand across the street
from Wrigley Field.

“We look forward to collaborating with the Ricketts family to bring a global
hotel icon to one of North America’s most beloved baseball teams and the
vibrant Lakeview community,” said Simon Turner, President of Global
Development for Starwood Hotels & Resorts Worldwide, Inc. “We share the
Ricketts family’s vision to bring new jobs and help to create a diverse,
center of economic activity.”

The exterior design and décor of the hotel will be a one-of-a-kind
collaboration, which will be uniquely designed to fit within the current
neighborhood landscape and community.

"Once we know how we can save Wrigley Field, the Ricketts Family is looking
forward to the opportunity to build a hotel across the street. It could
complement the neighborhood and its establishments while also serving fans and
tourists," said Ricketts Family spokesman Dennis Culloton. "Most importantly,
building this hotel is a critical part of a more than $500 million plan to
reinvest in Wrigley Field and the neighborhood. The family wantsto create 800
construction jobs and 1,300 full-time jobs, preserve Wrigley Field as one of
the top three tourist destinations in the state and grow the ballpark’s $650
million in annual economic impact to Chicago and the region."

Culloton also said the family would work with the community to seek City
approval on a boutique hotel development and added it would drive tourism for
local businesses 365 days a year.

The hotel will offer a prime location at the northwest corner of Clark and
Addison and be a key anchor component of a large scale entertainment and
retail development across from Wrigley Field. Walking distance to the numerous
theaters, shops, restaurants, and bars in the Lakeview community, the hotel
will be just 15 minutes from the Magnificent Mile and the Chicago Loop
providing fans and visitors with additional and desired lodging on the North
side outside of Cubs baseball games.

About Starwood Preferred Guest

Starwood Preferred Guest® (SPG®) is an innovative, award-winning frequent
traveler program that unites each of Starwood’s 9 distinctive hotel brands and
includes more luxury hotels in more destinations around the world. SPG
reinvented the hospitality loyalty landscape when it launched in 1999 with its
breakthrough policy of no blackout dates, and over the years has continued its
tradition of innovation with enhancements such as Cash + Points, and most
recently Your24^TM and SPG Lifetime^TM. In addition to Free Night Awards at
over 1,100 hotels and resorts and Award Flights on over 350 major airlines
without blackout dates, the Starpoints® that members earn through SPG can be
redeemed for access like to no other to experiences in music, sports and the
arts through SPG Moments. SPG also has an ongoing commitment to digital
innovation to meet the needs of today’s connected global traveler – from the
SPG app for iPhone that utilizes state-aware technology to create a more
personalized hotel stay to Starwood’s Best Rate Guarantee on SPG.com, to SPG’s
integration within various social media platforms. Offerings such as these
have helped SPG build a passionate member base among the world’s most frequent
travelers. Learn more at spg.com and spg.com/moments and connect with us on
facebook.com/spg, twitter.com/spg, foursquare.com/spg, pinterest.com/spglife,
and youtube.com/spg.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and
leisure companies in the world with 1,134 properties in nearly 100 countries
and 154,000 employees at its owned and managed properties. Starwood 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,
Aloft®, and ElementSM. 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 also owns Starwood Vacation Ownership, Inc., a premier
provider of world-class vacation experiences through villa-style resorts and
privileged access to Starwood brands. For more information, please visit
www.starwoodhotels.com.

(Note: This press release contains forward-looking statements within the
meaning of federal securities regulations. Forward-looking statements are not
guarantees of future performance or events and involve risks and uncertainties
and other factors that may cause actual results or events to differ materially
from those anticipated at the time the forward-looking statements are made.
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 and events 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:

Starwood Hotels & Resorts Worldwide, Inc.
Carrie Bloom, 203-964-5755
Carrie.bloom@starwoodhotels.com