Acquisitions & Hotel Openings

Under Development in Arizona, the 180-room Sheraton Mesa Hotel Opening in 2015

Owned and Developed by River View Hotel and Operated by Power Hotels

STAMFORD, CT - June 4, 2014 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced its renowned Sheraton brand will open a new-build hotel in Mesa, Arizona next to the Chicago Cubs' new spring training complex. Owned and developed by River View Hotel, LLC and operated by Power hotels, LLC, Sheraton Mesa Hotel broke ground this spring and is slated to open in March 2015. The 180-room hotel will be Starwood's first property in Mesa and the sixth Sheraton hotel in greater Phoenix.

"Sheraton Mesa Hotel will be an exciting, new addition to the Sheraton portfolio and will give us yet another great location within the thriving Phoenix metropolitan area," said Hoyt Harper, Global Brand Leader, Sheraton Hotels & Resorts. "We look forward to offering Cubs fans and travelers a stylish, comfortable atmosphere where they can make connections and enjoy all the brand's signature amenities and services."

The new Sheraton will be located immediately adjacent to Cubs Park at Wrigleyville West, the brand-new 15,000-seat stadium spring training facility for the Chicago Cubs. It is part of the Riverview re-development project, which spans 170 acres and will include facilities for sports, recreation, cultural and public events. Guests will be walking distance to the Mesa Riverview shopping center and just minutes from Phoenix Sky Harbor International Airport (PHX), the Mesa Convention Center, Arizona State University and the offices, dining and shops of Tempe.

"We are delighted to partner with Power Hotels on this new-build Sheraton hotel in Mesa, which will appeal to baseball fans and travelers while meeting the need for high-quality lodging and conference space in this thriving suburb of Phoenix," said Allison Reid, Senior Vice President of North America Development, Starwood Hotels & Resorts Worldwide, Inc. "Sheraton is a popular choice among owners and developers seeking a strong global brand for new developments across North America."

At the heart of the lobby, guests will enjoy the signature Link@Sheraton® experienced with Microsoft®" – a relaxed space with complimentary wireless broadband where guests can socialize and connect with friends, both old and new. All guest rooms will offer the all-white Sheraton Sweet Sleeper® bed, designed to meet AAA's Five Diamond Award® criteria, an oversized work desk, ergonomic chair, high-speed Internet and 42-inch flat panel television. Sheraton Club guests will enjoy upgraded amenities, as well as complimentary breakfast, beverages and evening hors d'oeuvres in the Sheraton Club Lounge.

An ideal choice for business meetings, weddings and social functions, Sheraton Mesa Hotel will feature more than 30,000 square feet of indoor and outdoor state-of-the-art meeting and function space. Hotel amenities will include two full-service restaurants, both indoor and outdoor bars, a resort-style outdoor swimming pool, and a fitness facility featuring the brand's revolutionary health and fitness program, Sheraton Fitness by Core Performance.

Sheraton Hotels & Resorts, like all brands within Starwood's robust 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 nearly 1,200 properties in 100 countries, and 181,400 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 (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 Power Hotels, LLC

Power Hotels, LLC, a Mesa based hotelier develops, constructs, and operates hotels located in Arizona and the southwest United States. With hotel experience ranging from full service Casino properties to limited service hotels, the Power Hotel team understands what is required to deliver the ultimate customer experience while operating properties at optimum profitably. Customer Service is the primary objective for all Power Hotels, LLC properties with demonstrated highest guest satisfaction scores that surpass the competition. Other hotel properties currently under Power Hotels, LLC direction are the Doubletree by Hilton Phoenix Gilbert and the Best Western Legacy Inn and Suites. For more information, please visit www.powerhotelsllc.com.

Coming Up In The October Online Hotel Business Review


Feature Focus
Revenue Management: Optimizing Income Streams Across All Avenues
The role of Revenue Managers, within their profession and the organizations they serve, continues to evolve. A significant portion of the change is driven by technological innovation which, given its magnitude in today’s markets, also redefines their standing on the hotel team. Revenue Managers are moving away from being exclusively spreadsheet-centric and finding better ways to share their data. This shift also requires them to engage more directly with their sales, marketing, and operations departments. Part of this development is due to a reassessment of their metrics for success. Revenue was previously the sole factor by which success was determined but now there is a greater emphasis on price optimization, profitability and flow through. Managers are combining sales, marketing and revenue management, and then adopting a data approach to optimize their income streams across all avenues. This metric evaluates performance in all revenue streams and then calculates the gross operating profit per available room. Hotels are now measuring everything a guest does - and spends money on - from the time he books until the moment he checks out. In addition, Revenue Managers will soon be able to shift their focus from room availability to the guest and his ability to pay. A future revenue management system might take into account things like weather forecasts, the recent online activity of the guest, the guest profile and persona, time of booking, the mode of travel and the fare paid. It might also calculate all the previous stays for this guest, and how much was spent on their room and in the hotel. All of this will be compared to millions of other potential future reservations to determine a unique room and rate for a specific individual guest. The October issue of the Hotel Business Review will address all these developments and document how some hotels are executing their revenue management strategies.