Starwood Hotels Invests More Than $400 Million in Refreshing Its New York City Portfolio

  Starwood Hotels Invests More Than $400 Million in Refreshing Its New York
  City Portfolio

Global Hospitality Giant Unveils Several Newly Renovated Properties including
 Sheraton New York Times Square Hotel, Westin New York at Times Square and W
                           New York - Union Square

Business Wire

STAMFORD, Conn. -- May 06, 2013

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that
together with its owner and developer partners, it has invested more than $400
million to revitalize its New York City portfolio of hotels. Newly renovated
properties include the Sheraton brand’s flagship hotel – Sheraton New York
Times Square Hotel, W New York – Times Square, W New York - Union Square, W
New York, The Westin New York at Times Square and The Westin New York Grand
Central. Starwood has also enhanced its New York City portfolio with the
addition of several new properties in the past three years including The
Chatwal, a Luxury Collection Hotel, Sheraton Tribeca New York Hotel, and W New
York – Downtown. All nine of Starwood’s distinctive global brands are
represented in New York City, where the company boasts a total portfolio of 21
hotels.

“We are proud to offer travelers a truly outstanding selection of Starwood
hotels in New York City, one of the world’s most visited destinations,
attracting more than 50 million tourists annually,” said Mary Casey, Senior
Vice President of Sales, North America, Starwood Hotels & Resorts. “We have
not only made a significant investment in our New York City hotels, but have
also added even more breadth to our portfolio through strategic conversions in
many of the city’s most dynamic neighborhoods. The result is that Starwood’s
New York City portfolio is fresher and stronger than ever before, making it an
attractive choice for travel managers, meeting professionals and travelers
seeking to book memorable stays in this iconic city.”

Sheraton New York Times Square Hotel

The Sheraton brand’s flagship hotel – Sheraton New York Times Square Hotel –
completed its top-to-bottom renovation in March, representing one of the most
significant recent hotel renovation projects in New York City. All 1,781
guestrooms and suites, public areas, fitness center and meeting facilities
have been transformed, and each guest room and suite reflects a contemporary
design and sophisticated look. Boasting a classic, metropolitan aesthetic, the
hotel’s 60,000 square feet of fully renovated meeting space is infused with
light and features a fresh design scheme with warm tones and geometric
patterns. Sheraton New York Times Square Hotel also offers a luxurious Club
Lounge with breathtaking views of New York City, as well as a state-of-the-art
fitness center. Located between Central Park and Times Square in the midtown
business and entertainment district, the hotel offers signature Sheraton
amenities and VIP services that cater to both business and leisure travelers.

The Westin New York at Times Square

The Westin New York at Times Square is located in the heart of Broadway. An
acclaimed achievement of art and architecture, this AAA 4-Diamond luxury hotel
soars above the city skyline. The Westin New York at Times Square is within
walking distance to 40 theaters as well as world famous shopping, award
winning restaurants, and New York City’s most famous landmarks. With a total
of 873 impressive and inviting hotel rooms and suites, the Westin recently
renovated 330 deluxe rooms showcasing magnificent views of the Hudson River,
the Empire State Building, 42^nd Street and much more. The Westin Heavenly Bed
and new Heavenly Shower anchor the guest rooms while upgrades include large
flat screen televisions, an innovative floating desk which adds tremendous
flexibility, new colors, and brightly enhanced bathrooms with added vanity and
shelf space. The hotel also features a newly renovated and complimentary 24
hour Westin WORKOUT fitness studio. The hotel offers 34,000 square feet of
state of the art meeting and banquet space featuring 3 ballrooms and 32
meeting and breakout rooms. Recently, over 24,000 square feet of meeting space
was renovated with fresh color patterns and bright new lighting technology,
complimenting natural light throughout the foyer spaces and atrium conference
rooms. The hotel features a Shula’s Steak House and is interconnected to a
200,000 square foot entertainment and retail complex featuring movie theatres,
restaurants, and shops.

The Westin New York Grand Central

The Westin New York Grand Central debuted in October 2012 after completing
extensive renovations to the historic, landmark property, formerly known as
the New York Helmsley Hotel. The multi-million dollar renovation resulted in a
complete redesign of the hotel’s 774 spacious guest rooms and its more than
14,000 square feet of renovated meeting and event space. The hotel also
unveiled its brand-new Madison Ballroom, a 2,800 square foot space with 18
foot ceilings, a perfect venue for weddings and receptions. Improvements to
the hotel’s meeting space include the addition of four new break-out rooms,
teleconferencing capabilities, fiber optics, and some of the highest bandwidth
in Manhattan. As part of the renovation, the lobby bar/restaurant was extended
to 42^nd street to include The LCL: Bar & Kitchen, NYC. Located in midtown
Manhattan with stunning views of the Empire State Building, Chrysler Building,
and East River, The Westin New York Grand Central is the brand’s newest
flagship hotel in New York City, joining The Westin Times Square.

W New York - Union Square

W New York - Union Square launched its newly redesigned Living Room last
month, the final stage of the hotel’s multi-layered renovation project.
Inspired by the neighborhood’s merging of traditional and contemporary styles,
the new Living Room design by New York-based Krause + Sawyer, has an “Uptown
Meets Downtown” narrative, yet also preserves many of the landmark 1911 Beaux
Arts building’s original design details, such as its turn-of-the century Great
Room with 23-foot high gilded ceilings and grand windows. The hotel’s
renovation also included all 270 guest rooms, the Extreme WOW and WOW suites
(the W brand’s take on top suites), Todd English’s renowned Olives restaurant,
and the destination bar Lilium by Gerber Group. The complete transformation is
part of W’s ongoing, $100 million commitment to renovating 11 of its
properties across North America, and combines form and function with
cutting-edge design to offer a fashionable escape in the heart of downtown
Manhattan.

W New York - Times Square

W New York – Times Square has just completed renovation of its Extreme WOW and
WOW suites. Inspired by the energy of New York City nightlife, the design
elements offer a playful sophistication and a voyeuristic view of the city
that never sleeps. Designed to be a  bedroom by morning but an event space by
night, the Extreme WOW suite is perfect for intimate dinners, fashion
presentations, film screenings, listening parties, and more. Highlights
include a dining room table for eight that spins and rises hydraulically to
become a bar, two plum-hued “hanging” chairs in the living room, a circular
bed with unparalleled views of the New York skyline, a new sound system,
kitchenette, and a built-in DJ Booth. The hotel’s newly refurbished WOW suite
offers the same impressive skyline views, as well as two bedrooms, and a
combined living room / dining room with wet bar nook.

W New York

W New York, located at 541 Lexington Avenue, has completed renovations to its
9,020 square feet of meeting facilities. Designed in collaboration with New
York-based interior firm d-ash design, each modern space combines form,
function and cutting-edge design to offer a sophisticated urban escape. The
hotel’s newly refurbished meeting space includes eight break-out rooms and the
3,690 square feet signature Great Room, which has played host to hundreds of
weddings, concerts and high-profile events. Assembly 3, looking over the
hotel’s spacious Living Room is the perfect location for a post meeting
reception, where a number ofseatingareas allow for a private escape or a
small group gathering. The re-imagined Assembly 2 and Assembly 1 fuse flexible
layouts with energized breakout spaces and peaceful reflection areas.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and
leisure companies in the world with 1,146 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 Worldwide, Inc.
Melissa Pogue, 203-964-4504
melissa.pogue@starwoodhotels.com