Acquisitions & Hotel Openings

Sheraton to Open Eight Hotels in China

The 30th Sheraton in Greater China Makes its Debut – The Sheraton Zhongshan Hotel

August 30, 2010 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced that its global powerhouse Sheraton Hotels & Resorts plans to open eight more hotels in China before the end of 2010, and another 18 by 2015. The Sheraton brand also marked a major milestone this month with the opening of its 30th hotel in Greater China– Sheraton Zhongshan Hotel, which is Starwood’s 60th property in Greater China.

“Sheraton is our most prolific brand in China, accounting for half of Starwood’s current portfolio in this dynamic, fast-growing market. We are delighted to expand Sheraton in established cities like Beijing and Shanghai, while simultaneously introducing the iconic hotel brand to emerging business hubs and resort destinations,” said Simon Turner, President of Global Development for Starwood. “China is leading the recovery in global tourism in 2010, and by 2020, it is expected to be the world’s largest tourism market. And as the Chinese pick up the pace of their domestic and international travel, they are going to stay with the brands they know, which will have a phenomenal impact on our global business.”

Later this year, Sheraton will open Sheraton Guangzhou Hotel, signifying the brand’s debut in the city of Guangzhou, southern China’s largest metropolis and a key transportation hub. Other key 2010 openings include the brand’s third hotel in Shanghai – Sheraton Shanghai Hong Kou Hotel; and in 2011 its second in Beijing – Sheraton Beijing Dongcheng Hotel.

“We are thrilled with the robust expansion as we announce eight more Sheraton hotels throughout China and continue to expand our established upper upscale brands in various Chinese cities where we are currently under penetrated,” said Stephen Ho, Senior Vice President of Development for Starwood’s Asia Pacific Division. “Starwood continues to win many new hotel projects in China and this is largely due to the confidence the development community has in our lifestyle brands, noted innovations and consistently strong delivery of results in the region.”

“The phenomenal success of Sheraton in China has been instrumental in establishing Starwood as the leading international luxury and upper upscale hotel operator in the region,” said Hoyt Harper, global brand leader for Sheraton Hotels & Resorts. “Sheraton recently completed a $6 billion revitalization campaign, and now we’re investing another $5 billion to add approximately 35 new hotels to our portfolio by the end of 2015. The fact that half of these new properties are opening in China underscores the tremendous potential of this vast, dynamic market, where the rising middle class is clamoring for high-caliber, global brands.”

In 2011, Starwood will open Sheraton Hangzhou Wetland Park Resort, the first Sheraton hotel to open in China’s most promising new resort destination.

Starwood’s largest brand, Sheraton boasts a current portfolio of 400 hotels in 75 countries and 92% awareness among business travelers, higher than all other global hotel brands.

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