Starwood Hotels & Resorts and Fortuna Realty Group Break Ground on Aloft Hotel in Midtown Manhattan

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. May 12, 2015

STAMFORD, CT. - May 12, 2015. Starwood Hotels & Resorts Worldwide, Inc.® (NYSE:HOT) in partnership with Morris Moinian, Founder of Fortuna Realty Group (FRG), today announced plans to develop an Aloft hotel in New York City. Scheduled to break ground later this month, Aloft New York Midtown will open in October 2017 in the heart of New York City's Garment District, just two blocks from Bryant Park and down the street from Starwood's new brand innovation studio, Starlab. The new Aloft will feature 180 spacious loft-style rooms, a tech-forward mindset, innovative brand programming and easy access to the city's top attractions.

"Aloft is a terrific choice for midtown Manhattan and will appeal to early adopters with its tech-forward mind-set, leading-edge design and buzzing social scene," said Brian McGuinness, Senior Vice President, Specialty Select Brands for Starwood. "Designed to meet the needs of today's modern traveler, Aloft continues to build global buzz as we near 100 hotels worldwide."

"We are delighted to partner with Starwood Hotels on Aloft New York Midtown—and our first Aloft hotel— which will offer travelers a stylish and affordable option right at the heart of midtown Manhattan," said Morris Moinian. "Starwood's popular Aloft brand is an excellent choice for this project with its great design, energetic social atmosphere and live music at the WXYZ® bar. This latest development reinforces a commitment to the hospitality sector as FRG continues to grow its position as one of New York's leading hotel developers."

Aloft New York Midtown will boast a prime location on 38th Street just off 5th Avenue, walking distance to Bryant Park, Rockefeller Center, the Empire State Building, the Times Square Broadway Theater District, Madison Square Garden, Lord & Taylor's flagship store. Renowned architecture firms Nobutaka Ashihara Architects and Paul Vega of VLDG Inc. will design the 27-story property to be encased in glass and metal, boasting 360-degree views of midtown Manhattan.

"Aloft is poised to more than double its portfolio in the New York City metropolitan area by the end of 2017, as we continue to aggressively grow the brand throughout North America and beyond," said Allison Reid, Senior Vice President of North America Development, Starwood Hotels & Resorts Worldwide, Inc. "Offering distinctive urban design and a line-up of innovative programing, Aloft continues to generate interest from owners and developers in pursuit of a compelling global brand with strong appeal for the next generation of travelers."

The Aloft brand's innovative and exclusive initiatives set it apart. Aloft Hotels recently announced the launch of SPG Keyless—an evolution of Aloft's Smart Check-in— the hospitality industry's first mobile, keyless entry system allowing guests to use their smart phone as a key. The technology is available at select Aloft, Element and W Hotels worldwide. This forward-thinking initiative is part of the brand's innovative DNA. Additionally, every Aloft Hotel around the world offers live, free access to local emerging artists as well as some of the hottest bands with Live at Aloft Hotels programming at the W XYZ® bars.

About Aloft Hotels

With 100 hotels open now and coming soon in 15 countries around the world, Starwood's Aloft brand delivers a fresh approach to the traditional staid hotel landscape. For the 'always on' next generation of traveler, the Aloft brand offers a tech-forward, vibrant experience and a modern style that is different by design. For more information, please visit www.alofthotels.com. Aloft, like all brands within Starwood's portfolio, is proud to offer the Starwood Preferred Guest (SPG®) program, the industry's richest loyalty program. To learn more, please visit spg.com.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 1,200 properties in some 100 countries and over 180,000 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 Meridien®, Sheraton®, Four Points® by Sheraton, Aloft®, Element® and the recently introduced Tribute Portfolio™. 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 recently announced plans to spin off its Starwood Vacation Ownership, Inc. business, a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands, into a standalone public company by the end of 2015. For more information, please visit www.starwoodhotels.com.

About Fortuna Realty Group

Fortuna Realty Group, LLC is a privately held real estate investment and development company, founded in 1984 by Morris Moinian. The firm continues to expand its footprint by acquiring and developing assets throughout the United States, specializing in high-end hotel and real estate assets. Fortuna Realty Group's holdings include Hotel Hugo and the Hotel Indigo in Manhattan; The Garden City Hotel on Long Island; in partnership of Mr. C in Beverly Hills; Sugar Bay Resort and Spa in St. Thomas, U.S.V.I. and many other locations and development sites. For more information, please visit www.fortunarealtygroup.com.

Media Contact:
Ashley Chapman
[email protected]
212-380-4015