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Sheraton Hotels Welcomes Travelers to Memphis, Tennessee Following Strategic Conversion



  Sheraton Hotels Welcomes Travelers to Memphis, Tennessee Following Strategic
  Conversion

 Sheraton Memphis Downtown Hotel is connected to the Memphis-Cook Convention
   Center, Walking Distance to the World-Famous Beale Street Entertainment
                                   District

Business Wire

STAMFORD, Conn. -- August 12, 2013

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced its
iconic Sheraton®brand has arrived in Memphis, Tennessee, following the
strategic conversion of a prime downtown property. Sheraton Memphis Downtown
Hotel is connected to the Memphis Cook Convention Center at the heart of the
city’s vibrant downtown. Owned by Host Hotels & Resorts, Inc. (NYSE: HST), the
former Marriott property is in the midst of a major renovation in order to
implement all of the Sheraton brand’s signature amenities and services.
Sheraton Memphis Downtown Hotel is a significant addition to the growing
Sheraton portfolio, helping to accelerate the brand’s $8 billion global
expansion effort.

“Sheraton is delighted to be part of the Memphis community with the opening of
this terrific downtown property as we continue to aggressively expand the
brand in dynamic destinations, worldwide,” said Hoyt Harper, Global Brand
Leader, Sheraton Hotels & Resorts. “Sheraton Memphis Downtown Hotel will
welcome travelers with a stylish, comfortable and social atmosphere where they
can enjoy all the brand’s recently enhanced signature services and amenities
in a convenient location near leading Memphis attractions.”

Located at 250 North Main Street, Sheraton Memphis Downtown Hotel is walking
distance to the restaurants, art galleries, boutiques and nightclubs in the
world-famous Beale Street entertainment district – home of the Blues. Just 12
miles from Memphis International Airport (MEM), the hotel is just steps from
the historic Main Street Trolley and close to leading attractions including
Orpheum Theater, FedEx Forum, the National Civil Rights Museum, the
Mississippi Riverfront, Graceland and the Liberty Bowl Memorial Stadium.

“I am excited to welcome Sheraton to downtown Memphis,” said Mayor A C
Wharton. The multi-million dollar enhancement project they have planned is
impressive. It will provide visitors to Memphis with high-quality
accommodations and first-rate meeting space that aligns well with other things
we are doing to make Memphis a City of Choice, and to focus on growing the
city to prosperity. Also, we are pleased that the owners chose Davidson Hotels
& Resorts, a company with Memphis roots, to manage the facility. Davidson has
one of the purest full-service hotel portfolios in the industry, including 46
upscale, full-service independent and branded hotels with over 13,500 rooms.”

“The opening of Sheraton Memphis Downtown Hotel is another step forward for
the city of Memphis, which has made a significant investment in recent years
to revitalize its urban core,” said Bernie Murphy, SVP-Business Development,
Davidson Hotels & Resorts. “We at Davidson are proud to offer visitors to
Memphis a superbly transformed, upscale lodging option at the heart of the
city’s increasingly dynamic downtown.”

Every area of the Convention Center hotel will be upgraded to reflect the
Sheraton brand’s quality standards. The Sheraton Memphis Downtown Hotel will
feature the brand’s signature Link@Sheraton® experienced with Microsoft® – a
social hub in the lobby where connections, whether face-to-face or
webcam-to-webcam take place, and a Link Café. All 600 guest rooms will be
upgraded and equipped with the all-white Sheraton Sweet Sleeper® bed, designed
to meet AAA’s Five Diamond Award® criteria, as well as an oversized work desk,
ergonomic chair, high-speed Internet, and LCD flat panel television.

Perfect for meetings of all sizes and social functions, Sheraton Memphis
Downtown Hotel provides 14,000 square feet of flexible meeting space with all
of the latest meetings technology. Additional amenities include a full-service
restaurant and lounge, indoor pool with outside balcony and Sheraton Club
Lounge. Following renovations, the hotel’s fitness facility will feature the
brand’s revolutionary new health and fitness program, Sheraton Fitness,
Programmed by Core Performance™, designed exclusively for Sheraton guests
through its partner Core Performance. The hotel is managed by Davidson Hotels
& Resorts, an experienced manager of four-star meetings hotels and a longtime
operator of hotels in the Memphis market.

Starwood has spent the last few years renovating and rebuilding one of the
hotel industry’s most iconic brands and Sheraton now stands stronger than ever
with the most robust portfolio in its history and is experiencing
record-breaking growth, putting the brand on track to open its 500^th hotel in
2015.

Sheraton Hotels & Resorts, like all brands within Starwood’s outstanding
portfolio, is proud to offer the Starwood Preferred Guest® program, which made
headlines when it launched in 1999 with a breakthrough policy of no blackout
dates on Free Night Awards. SPG® offers members the ability to redeem awards
at more resorts, more luxury properties, more European hotels and more golf
properties than any other hotel program.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and
leisure companies in the world with 1,162 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 Element®. The Company boasts one of the industry’s leading loyalty
programs, Starwood Preferred Guest^(R) (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 Host Hotels & Resorts

Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the
largest lodging real estate investment trust and one of the largest owners of
luxury and upper-upscale hotels. The Company currently owns 103 properties in
the United States and 15 properties internationally totaling approximately
62,700 rooms. The Company also holds non-controlling interests in a joint
venture in Europe that owns 19 hotels with approximately 6,100 rooms and a
joint venture in Asia that owns one hotel with approximately 300 rooms in
Australia and a minority interest in two hotels in India. Guided by a
disciplined approach to capital allocation and aggressive asset management,
the Company partners with premium brands in the operation of properties in
over 50 major markets worldwide. For additional information, please visit the
Company’s website at www.hosthotels.com.

About Davidson Hotels & Resorts

Davidson Hotels & Resorts is an award-winning, full-service hotel management
company that provides management, development/renovation, acquisition,
consulting and accounting expertise for the hospitality industry. The company
has amassed one of the purest full-service hotel portfolios in the industry,
ranging from the upper-upscale to near-luxury segments; encompassing 46
upscale, full-service independent and branded hotels with over 13,500 rooms
across the United States. Additional information on Davidson may be found at
the company’s website, www.davidsonhotels.com.

* This press release contains registered trademarks that are the exclusive
property of their respective owners. None of the owners of these trademarks
has any responsibility or liability for any information contained in this
press release.

Contact:

Starwood Hotels & Resorts
Nadeen Ayala, 203-351-2542
nadeen.ayala@starwoodhotels.com
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