Acquisitions & Hotel Openings

Sheraton Reserva do Paiva Hotel and Convention Center to Open in Brazil in Q1 2014

Project being Developed by the Portuguese group Promovalor and the Brazilian group Odebrecht Realizações Imobiliárias

STAMFORD, CT - January 9, 2012 - Sheraton® Hotels & Resorts today announced the signing of the Sheraton Reserva do Paiva Hotel and Convention Center, a new project in Pernambuco state in the northeast region of Brazil. The Sheraton Reserva do Paiva is being developed by the Portuguese group Promovalor and the Brazilian group Odebrecht Realizações Imobiliárias and will be the first five star hotel in Reserva do Paiva, located approximately 30 minutes from Recife, as part of the third phase of this planned community. The hotel is scheduled to open in March 2014.

Sheraton Reserva do Paiva Hotel will be located one block away from one of the most beautiful stretches of beaches in Northeastern Brazil. Featuring 289 rooms, including 21 junior suites and seven deluxe suites, the hotel will boast a spa; the brand’s signature Sheraton Fitness programmed by Core Performance® with more than 3,937 square feet of work-out space; and an exclusive Club Lounge on the top floor with beautiful sea views; restaurants and a Beach Club with leisure offerings including an infinity pool and spacious lounge area. The heart of the lobby will feature a bar and the brand’s Link@Sheraton(R) experienced with Microsoft® -Sheraton’s signature social hub where connections, whether face-to-face or webcam-to-webcam, can take place. The hotel will also offer 120 covered parking spaces and will be energy efficient, reducing its environmental impact.

“Our leadership position in the upper upscale hotel segment in Latin America highlights the success of the Sheraton brand’s distinctive positioning in this fast-growing market,” said Hoyt Harper, global brand leader for Sheraton Hotels & Resorts. “At the end of 2011, Sheraton has expanded its footprint to 29 hotels in ten Latin American countries, including four hotels in Brazil, strengthening Starwood’s position in the region.”

“We are thrilled with the robust expansion of Starwood Hotels & Resorts in Latin America and to be announcing the groundbreaking for a new Sheraton hotel in Brazil. We continue to expand our presence in emerging markets with our nine distinctive brands, and as Brazilians pick up their pace of travel, they will look to stay with the brands they know and recognize. Additionally, with the focus on hotel development in preparation for the 2014 FIFA World Cup and 2016 Summer Olympics, Starwood looks to continue to expand its presence in Brazil, and build upon our 37 years in the country.” said Osvaldo Librizzi, president of Starwood Hotels & Resorts, Latin America.

Sheraton Reserva do Paiva Hotel and Convention Center features a modern convention center with more than 9,186 square feet that will accommodate up to 2,100 people. The meeting space will include two ballrooms, four function rooms and other flexible meeting and exhibition areas all featuring high ceilings, individually air-conditioned, sound-proof structure and top-of-the line technology in audio visuals and direct access to exterior terraces. Located just nine miles from the International Airport of Guarapes and the Suape Industrial Harbour Complex, this will be the largest and most well equipped convention center in Northeast Brazil.

The Sheraton Reserva do Paiva will blend in with the architectural concept of Reserva do Paiva which includes low buildings, extensive green areas and environmentally-friendly construction. The hotel will be an eight story building with a total area of 95,144 square feet of constructed area. Part of the third phase of Reserva do Paiva, the project was developed by a team of 20 international companies from Brazil, Argentina, Chile and Portugal, all highly experienced professionals in the luxury hotel industry.

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

About Sheraton Hotels & Resorts
Sheraton helps guests make connections at more than 400 properties in 70 countries around the world and recently completed a US$6 billion global revitalization and is now in the midst of a US$5 billion global expansion over the next three years. Sheraton is owned by and is the largest and most global brand of Starwood Hotels & Resorts Worldwide, Inc, one of the leading hotel and leisure companies in the world with 1,071 properties in 100 countries and territories with approximately 145,000 employees at its owned and managed properties. Starwood Hotels 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 Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.

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