Starwood Hotels’ Sizzling Aloft Brand Debuts in Silicon Valley

  Starwood Hotels’ Sizzling Aloft Brand Debuts in Silicon Valley

  Catering to the Next Generation of Travelers, Aloft Cupertino Boasts Prime
           Location Adjacent to Apple Computer’s World Headquarters

Business Wire

STAMFORD, Conn. -- March 18, 2013

Starwood Hotels & Resorts Worldwide, Inc.® (NYSE:HOT) today announced that its
leading-edge Aloft brand has debuted in Cupertino, California. Aloft Cupertino
is the brand’s third hotel in California and its first in Silicon Valley,
reflecting the rising demand for Aloft in vibrant markets worldwide. Owned by
Shashi Corporation and managed by Azul Hospitality Group, Aloft Cupertino
offers 123 spacious, loft-like rooms, forward-thinking technology and a
vibrant, social atmosphere.

“We are thrilled to bring Aloft to Cupertino where we expect it will emerge as
a favorite with savvy travelers and area professionals in a community that
buzzes with excitement, innovation and thought leadership,” said Brian
McGuinness, Senior Vice President, Specialty Select Brands for Starwood.

Located in the heart of Cupertino’s business district, Aloft Cupertino is
adjacent to the Apple campus and walking distance to the City Center. Also
nearby are the offices of Hewlett Packard, Google and IBM, Santa Clara
University, HP Pavilion, Winchester Mystery House, the upscale shops and
eateries on Santana Row, and a selection of wineries and world-class golf
courses. Hotel amenities include an indoor pool, w xyz ^sm  bar, 24-hour
fitness center and 1,350 square feet of flexible meeting space, ideal for both
business meetings and social gatherings. Aloft Cupertino is also pursuing LEED
certification and offers many environmentally friendly programs and design
elements.

“We are thrilled to introduce the Aloft brand to Cupertino, the epicenter of
global innovation,” said Dipesh Gupta, CEO of Shashi Group. “With its flair
for design and dynamic social scene, Aloft Cupertino is a great match for the
energy of Silicon Valley.”

We are excited to join forces with Shashi Corporation and Starwood Hotels &
Resorts on this unique opportunity,” said Christopher Herthel, Executive Vice
President of Somera Capital Management

Los Angeles-based Canyon Capital Realty Advisors (CCRA) provided the senior
construction loan for the project, which was used to purchase the land and
construct the brand new hotel.

“Canyon’s hospitality group has been active for many years, helping to
facilitate complex transactions across the United States,” said CCRA Principal
Jonathan Roth. “We are proud to expand our reach to Cupertino, and to lend our
expertise to help make the beautiful and innovative Aloft Cupertino a
reality.”

Showcasing many of the brand’s newest technologies, Aloft Cupertino is the
first Aloft hotel to feature Apple TV in all its guestrooms. Guests can choose
among thousands of movies and TV shows from iTunes, connect to Netflix for
films, Hulu for television shows, MLB.com for sports, and much more. Apple
TV’s Airplay feature will also let guests play video, show off photos, and
enjoy music from any iPhone, iPad, or iPod Touch – right on their 42-inch LCD
in-room TV. In the lobby, guests can access “Cool Concierge,” a tablet-based
concierge program that guests can use to look up directions, phone numbers,
make reservations, check their flight status and print boarding passes.
Starting in March, the hotel will also offer Smart Check-In, allowing guests
to bypass the front desk and go straight to their rooms using radio frequency
identification (RFID) technology.

Pioneering initiatives in music, design, and technology have positioned Aloft
as a must-have brand for the next generation of travelers. Aloft has reported
consistently high guest satisfaction scores since launch, reflecting the
success of its modern and vibrant design at an affordable price point. Aloft's
social guest experience, with the buzzing re:mix lounge and w xyz bar, has
also earned select hotels within the portfolio designations in TripAdvisor's
2012 "Top 25 Trendiest Hotels in the US" rankings.

About Aloft Hotels

With more than 60 hotels in 10 countries, Aloft has changed the hotel
landscape by offering ‘style at a steal’ everywhere from Baltimore to Beijing
to Bogota to Brussels – and everywhere in between. For more information,
please visitwww.alofthotels.com.

Aloft, like all brands within Starwood's portfolio, is proud to offer the
Starwood Preferred Guest^(R)program, which offers a breakthrough policy of no
blackout dates on Free Night Awards. To learn more, please visitwww.spg.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.

About Shashi Group

Founded in 2004 in Silicon Valley, Shashi Corporation is a privately held real
estate development and asset management firm, with a special focus on
hospitality. Shashi specializes in creating long term value by penetrating
high barrier to entry markets with lifestyle oriented designs and leading
world-class brands.

About Azul Hospitality Group

Azul Hospitality Group, a Preferred Management Company for the Aloft brand,
has a robust infrastructure of industry professionals with extensive
experience in all aspects of hotel management and development services. The
company’s primary focus is on upscale hotels and resorts, with unique
destination and product attributes, located in the western United States.
Other recent projects with Starwood Hotels and Resorts include the Sheraton
Carlsbad Resort & Spa in Carlsbad, California, and the Sheraton Redding at
Sundial Bridge in Redding, California.

About Somera Capital Management

Somera Capital Management, LLC is a fully integrated real estate investment
and portfolio management company with headquarters in Santa Barbara,
California and an additional office in Washington D.C. Somera has managed
approximately $600 million of total transaction equity committed to over 70
transactions throughout the United States, representing a total transaction
and cost basis of approximately $2.0 billion.

About Canyon Capital Realty Advisors

Canyon Capital Realty Advisors LLC (CCRA) is the real estate direct investing
arm of Canyon Partners, LLC. Canyon Partners and its affiliates, including
Canyon Capital Advisors, CCRA and ICE Canyon, are investment management firms
and registered investment advisors headquartered in Los Angeles, California,
with approximately $20 billion in assets under management.

Contact:

Media:
Starwood Hotels & Resorts
Stacy Trevino, 203-964-4661
Stacy.Trevino@starwoodhotels.com
 
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