Starwood Hotels & Resorts to Open 50 New Hotels in Europe in the Next Five Years

  Starwood Hotels & Resorts to Open 50 New Hotels in Europe in the Next Five
  Years

   The World’s Most Global Hotel Company Pursues Aggressive Growth Plans in
Europe and Invests More Than $200 Million to Enhance Existing Luxury Portfolio

 Starwood Announces Addition of the Celebrated King George Hotel in Athens to
               its Luxury Collection Portfolio Later this Year

Business Wire

BERLIN -- March 5, 2013

From the International Hotel Investment Forum (IHIF) in Berlin, Starwood
Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to open 50
new hotels in Europe over the next five years, increasing its European hotel
portfolio by 30%. This year, Starwood will open nine new hotels across the
continent, primarily in fast-growing markets, a key focus of Starwood’s
long-term development strategy in Europe. At the same time, Starwood and its
partners are making significant investments to restore and enhance some of the
company’s most iconic European hotels.

“Europe continues to be home to many of the world’s most sought-after
destinations and to attract travellers from markets around the globe,” said
Simon Turner, President of Global Development for Starwood. “There is strong
demand for all of our brands on the continent and, after years of tight
supply, we are seeing great deal signing momentum in Europe both in
established and rapidly growing markets.”

Starwood Expands European Footprint

Since 2009, Starwood has added 25 new hotels to its European portfolio of now
163 hotels in 32 countries. This year alone, the company will open nine new
hotels in established as well as fast-growing markets such as Russia, the
Commonwealth of Independent States (CIS) and Turkey. Highlights include:

  *Three new Starwood hotels in Turkey, including the debut of the Sheraton
    brand in Adana, Turkey’s culturally-charged commercial and agricultural
    centre as well as the entry of the Sheraton and Aloft brands in Bursa,
    Turkey’s fastest growing city. Starwood is rapidly expanding its footprint
    in the country with four new hotels opening within a two-year period,
    including last year’s debut of Le Méridien Istanbul Etiler. With that,
    Starwood will operate 10 hotels in five Turkish cities: Istanbul, Ankara,
    Cesme, Bursa and Adana.
  *Starwood’s third hotel in Moscow with the opening of the Sheraton Moscow
    Sheremetyevo Airport Hotel, part of the Skypoint Business Park located 800
    metres from the country’s busiest airport. In the next four years,
    Starwood will nearly quadruple its portfolio in Russia and the CIS with 11
    new hotels in Moscow, St. Petersburg, Rostov-on-Don, Perm, Kaluga, and
    Krasnodar in Russia, as well as in Kiev, Ukraine and Ismayilli,
    Azerbaijan.
  *Building on Starwood’s first-mover advantage, the entry into Tajikistan
    with the opening of a new Sheraton hotel in the country’s capital city of
    Dushanbe, followed by the launch of a Sheraton hotel in the emerging city
    of Aktobe in Kazakhstan, and the first internationally-branded hotel in
    Kecskemet, Hungary with the opening of the Four Points by Sheraton
    Kecskemet Hotel & Conference Center.
  *The addition of the celebrated King George hotel in Athens to Starwood’s
    Luxury Collection portfolio, marking  the brand’s  eighth hotel in Greece.
    This represents the largest concentration of Luxury Collection hotels in
    any European country.
  *W Hotels’ first ever ski retreat with the highly-anticipated opening of W
    Verbier and The Residences at W Verbier, marking the debut of the W brand
    in Switzerland when it opens in December. Starwood opened five W hotels in
    Europe since 2008 in some of the world’s most exciting and vibrant
    destinations, including London, Barcelona, St. Petersburg, Istanbul and
    most recently Paris. Next year, W Hotels will debut in Italy’s fashion
    capital with the new W Milan.

Bart Carnahan, Senior Vice President Acquisition & Development, Starwood
Hotels & Resorts, Europe, Africa & Middle East, said: “In an effort to
maintain our rapid growth momentum throughout Europe, we have strengthened our
development team with dedicated resources in the UK, Germany, Italy, France,
Russia, Poland and Turkey, underscoring our commitment to Europe as a key
travel and tourism destination.”

Starwood Strengthens Luxury Position

As the company continues to expand its portfolio throughout Europe, Starwood
is also focused on enhancing its existing portfolio of iconic European luxury
hotels. Along with its owner partners, Starwood is investing more than $200
million to renovate and restore its Luxury Collection hotels, bringing these
heritage properties into the 21^st century, while preserving the authentic
elegance and distinct personality valued by today’s luxury traveller.

Last year, Starwood re-opened two illustrious hotels in Spain following
meticulous multi-million dollar restorations: Hotel Alfonso XIII in Seville
and Hotel Maria Cristina in San Sebastian. Just last month, the world-famous
Gritti Palace in Venice was re-introduced after a careful restoration, to be
followed by the legendary Hotel Prince de Galles in Paris, which will re-open
its doors in May.

“As part of Starwood’s strategy to strengthen our Luxury Collection brand
portfolio, together with our partners, we are making major investments to
renovate and restore some of our most iconic hotels,” commented Roeland Vos,
President, Starwood Hotels & Resorts, Europe, Africa and Middle East. “At the
same time, we see a large landscape of independent luxury hotels looking for a
strong brand and the ability to tap into Starwood’s powerful systems, so we
expect some well-established conversion opportunities in key European cities
this year.”

Starwood continues to grow its Luxury Collection portfolio through flagship
conversions in major European capitals, including the recent conversions of
Metropol Palace in Belgrade (Serbia), Hotel Bristol in Warsaw (Poland) and
Hotel King George in Athens (Greece).

Long Runway to Grow Mid-Market Brands

Starwood is seeing strong momentum for its Four Points by Sheraton, Aloft and
Element brands in markets around the globe where there is a long runway to
grow reliable and affordable hospitality. The company’s mid-market portfolio
has grown over 60% worldwide since 2009, reflecting the global appeal of each
of these brands.

In Europe, Starwood’s mid-market brands make up approximately half of its
pipeline and by 2015 the company will have nearly doubled its current
mid-market portfolio in the region through a mix of franchise and management
contracts. Strong demand is coming from markets like the UK/Ireland, Benelux,
Italy, France, Russia, Poland, Turkey as well as Germany, where Starwood will
open four new mid-market hotels by 2015. This includes the European debut of
the Element brand with Element Frankfurt Airport Hotel, a Four Points by
Sheraton hotel at Berlin Brandenburg International Airport as well as the
entry of the Aloft brand into Germany with the openings of Aloft Munich and
Aloft Stuttgart.

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 171,000 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.

Contact:

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