Acquisitions & Hotel Openings

Westin Playa Bonita Panama Debuts in Panama

$100 Million Luxury Beach Haven Unveiled in Top Ranking Travel Destination

PLAYA BONITA, REPUBLIC OF PANAMÁ - February 3, 2012 - Starwood Hotels and Resorts Worldwide, Inc. (NYSE: HOT) and developer Bern Hotels & Resorts have officially unveiled The Westin Playa Bonita Panamá, the first Westin to open its doors in the burgeoning destination. In addition to being ranked as the number one travel destination for 2012 by The New York Times, top travel outlets like Fodor’s and Travel + Leisure have also recognized Panamá as one of this year’s top emerging hotspots, noting the destination’s dynamic range of offerings, from rainforest adventures to cosmopolitan city escapes rife with cultural flavor and old-world charm.

The gentrification of Panamá City’s renowned historic quarter, Casco Viejo, has contributed to the region’s panache; the once crumbling Unesco World Heritage Site has become a hotbed of art galleries, cafés and stylish boutiques. Just outside the city, experiential travelers can hike through the rainforest, visit indigenous villages, and snorkel waters off the golden shores of the Pacific Ocean.

A luxury beach oasis, The Westin Playa Bonita Panamá breaks through traditional barriers of design to create an inviting juxtaposition of Panamá’s unspoiled landscape along with cosmopolitan appeal. Flanked by rainforest and a pristine stretch of Pacific shoreline just 20 minutes outside Panama City, the 100 million dollar Westin Playa Bonita is a secluded escape featuring 611 luxury rooms and suites, six fine dining restaurants, four bars and an ultra chic, open-air VIP Lounge on the 19th floor, which boasts panoramic views of the Pacific Ocean, rainforest and Panamá Canal.

Unprecedented in the Republic of Panamá, The Westin Playa Bonita also features 62,000 square feet of meeting and event space comprised of 22 multi-purpose spaces.

“The unveiling of Panamá’s first Westin hotel is one of the most exciting developments the destination has seen in decades; one that is sure to redefine the country’s travel industry,” stated Herman Bern, President of Bern Hotels and Resorts. “The Westin Playa Bonita offers an exclusive luxury experience, which truly captures Panamá’s natural beauty and modern appeal. Featuring top-of-the-line accommodations and cutting edge amenities in the beautiful up-andcoming destination of Panamá, The Westin Playa Bonita will cater to a wide range of sophisticated international guests, whether they’re traveling for business or pleasure.”

“We are delighted to launch our first Westin Resort in Panama, a destination that is seeing significant growth in both the tourism and business sectors,” said Osvaldo Librizzi, president of Sheraton Hotels & Resorts, Latin America. “The Westin Playa Bonita is a magnificent hotel and we are proud to have it join our portfolio of hotels in Panama. The hotel will feature Westin’s signature offerings and services which global travelers have come to expect and enjoy, and the opening of the Westin Playa Bonita will give travelers and Starwood Preferred Guests another perfect resort destination to discover and enjoy in the diverse country of Panama,” he added.

For more information or to make a reservation visit www.westinplayabonita.com or call 877.800.1690.

About The Westin Playa Bonita
The Westin Playa Bonita Panamá is an upscale beach hotel strategically located alongside the Pacific Ocean, on a mile long stretch of golden sand on Playa Bonita Beach, surrounded by a lush tropical rainforest. Boasting 611 elegant guestrooms, including 67 spacious suites, all with panoramic views of the ocean and rainforest, six fine dining restaurants, four bars, three infinity edge pools, a state-of-the-art gymnasium and the largest meeting and event space in Central America, the modern and über-chic beach hotel is set to redefine the cosmopolitan destination. The beach hotel is part of Starwood Hotels & Resorts Worldwide, Inc., (NYSE: HOT) one of the leading hotel and leisure companies in the world. For more information please call 1.877.800.1690. Follow The Westin Playa Bonita on Twitter at @WestinPBonita and “like” Westin Playa Bonita on Facebook.

About Westin Hotels & Resorts
Westin Hotels & Resorts makes the healthiest choices irresistibly appealing, so guests leave feeling better than when they arrived. With over 170 hotels and resorts in over 36 countries and territories, Westin is owned by Starwood Hotels & Resorts Worldwide, Inc. Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1,051 properties in 100 countries and territories with 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, and the recently launched Aloft®, and Element SM. 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.

About Bern Hotels and Resorts
With more than 30 years experience in the Panamanian market, Bern Enterprises is a highly respected and growing company known for its entrepreneurial spirit and innovation. Through the company's hospitality and tourism division, Bern Hotels & Resorts has developed and currently operates eight hotels in the Republic of Panamá, including Crowne Plaza Hotel Panamá, Gamboa Rainforest Resort, Holiday Inn, City of Knowledge, InterContinental Miramar, InterContinental Playa Bonita Resort & Spa, Le Méridien Panamá, Solarium Coronado Beach, Villa Bonita and the brand new Westin Playa Bonita Panamá. The company also boasts its own tour operator, Gamboa Tours. For more information please visit www.ber

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