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Starwood Continues to Expand Portfolio in Latin America

  Starwood Continues to Expand Portfolio in Latin America

       On Track to Reach 100 Hotels and Expects Strong Year of Openings

Business Wire

STAMFORD, Conn. -- March 6, 2013

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that,
with a continued focus on growth in Latin America, the company aims to have
100 hotels under operation and development in Latin America by the end of
2013. Currently, Starwood has a strong footprint of 71 hotels in 13 countries,
and a robust development pipeline of 20 hotels with a total 3,300 new rooms
underway.

Building on its aggressive growth strategy in the region, in the last two
years, Starwood opened 12 hotels, including the Westin Panama, which opened in
January, bringing its current portfolio to 71 hotels with 15,300 rooms
representing 33 percent growth since 2007. In the remainder of 2013, Starwood
expects to open seven more hotels with a total of 1,300 rooms, covering four
brands across five countries.

Currently, the company operates eight unique brands throughout the region,
including W Hotels, St. Regis and The Luxury Collection, which make up the
company’s luxury portfolio; Westin, Le Méridien and Sheraton, in the
upper-upscale segment; and fast-growing mid-market or “specialty select”
brands, Aloft and Four Points by Sheraton.

“In the last five years, our footprint in Latin America has expanded
considerably to fulfill the increasing demand in business and leisure travel
that has resulted from rising wealth, global businesses and a digitally
connected world,” said Osvaldo Librizzi, Co-President of Starwood Hotels and
Resorts, Americas. “We believe that demand for travel will continue to
increase in Latin America and to meet that demand, we aim to have 100 hotels
under operation, development and management contracts by the end of 2013.”

“We have seen the growth of all of our brands across the entire spectrum of
destinations, including important gateway cities, secondary markets and
resorts, reflecting the diversity and maturity of the market,” said Ricardo
Suarez, Vice-president of Acquisitions and Development for Starwood Latin
America. “There is still a great deal of opportunity, in world-class travel
destinations like Mexico and Costa Rica, under-hoteled markets such as Brazil,
top performers like Chile and Peru, and foreign investment favorites such as
Colombia and Panama. We believe that we are best positioned to capitalize on
the many opportunities in the market, given the affinity to our brands and our
know-how of the region where we’ve been present for more than 40 years.”

Four Points by Sheraton and Aloft Key Drivers of Growth in Latin America

Starwood will introduce three Four Points by Sheraton hotels in key cities in
the next year, including Four Points Miraflores in Lima, Peru which will open
in March, followed by Four Points Cancun in Mexico in July and Four Points
Bogota in January 2014. Fast-growing Four Points by Sheraton, with its popular
positioning around comfort, style, and affordability is now Starwood’s third
largest brand with the second-biggest global pipeline. In Latin America, the
brand already has 12 properties, from Mexico to Chile.

The Aloft brand made its debut in Bogota and San Jose less than two years ago
and continues to take Latin America by storm. By 2015, six new Aloft branded
hotels will open in Latin America bringing the total number to eight. This
year, Aloft will debut in Panama and Mexico and by 2015 the brand will arrive
in Paraguay and Uruguay.

Sheraton Enjoys Strong Position and Sustained Growth

Sheraton is Starwood’s powerhouse brand around the world and is on-track to
open its 500^th hotel in 2015. In Latin America, the brand has 30 hotels in 11
countries. The next two years will be stellar for Sheraton with four new
hotels opening by 2014. Sheraton da Bahia Hotel in Salvador, Brazil’s second
most important tourist destination, will open in March of this year, followed
by Sheraton Tucuman Hotel in Argentina’s northern region that same month. In
early 2014, Sheraton Cartagena Hotel, a jewel on the city’s coastline will
make its debut followed by Sheraton Reserva do Paiva & Convention Center in
Recife, one of the host cities of the 2014 FIFA World Cup.

Westin Nearly Doubles Portfolio in Latin America

Demand for new Westin hotels in Latin America is also heating up. In just the
past two years, Westin has more than doubled its footprint in Latin America as
part of the brand’s strategic expansion in the region’s fastest growing
markets. This year’s opening of The Westin Panama increased the Westin
portfolio in Latin America to 11 hotels, spanning five countries including
Panama, Mexico, Peru, Costa Rica and Guatemala.

Le Méridien Returns to Mexico

In 2012, Le Méridien returned to Mexico with the opening of Le Méridien Mexico
City in November. Since its 2005 acquisition by Starwood Hotels & Resorts,
both Starwood and its hotel ownership groups have transformed Le Méridien into
a contemporary, design-led lifestyle brand. The brand has a significant growth
pipeline with seven new hotels expected to open within the next 12 months
around the globe.

Best Positioned in Luxury

Starwood continues to build on its extensive global luxury portfolio, under
the St. Regis, The Luxury Collection, and W Hotels brands. In 2013, the
company will open Palacio del Inka, a Luxury Collection hotel in Cusco that
will join two other properties in Peru. In addition, the company has signed an
agreement to open a new hotel Luxury Collection hotel in Guadalajara, Mexico.
With 85 hotels in 30 countries, The Luxury Collection remains Starwood’s
largest luxury brand, and with its appeal to independent hotel owners it
continues to grow, increasing its global footprint by 70% since 2007.

Starwood also plans to open four new W Hotels, including W Bogota in summer
2014, W Santa Fe in Mexico City in 2015, and W Retreat Kanai Rivera Maya and W
Panama City in early 2016. And, with already two St. Regis hotels in Mexico,
the brand expects to open its third in the country with the inauguration of
the St. Regis Kanai Rivera Maya, slated to open in 2016.

For more information, please visit: www.starwoodhotels.com.

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.

(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.
Gina Carriazo, 786-219-5846
 
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