Starwood Vacation Ownership Announces Plans for Third Maui Resort

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. October 14, 2008

WHITE PLAINS, NY, June 25, 2008. Starwood Vacation Ownership (SVO), a division of Starwood Hotels & Resorts Worldwide (NYSE: HOT), announced plans to expand its portfolio of resorts in Hawai'i with the development of its third vacation ownership resort on Maui. The new property, expected to open fall 2011, has been designed to achieve certification under the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) rating system, the nationally accepted benchmark for green buildings.

"SVO is proud to be the first stand-alone, full-service resort in Hawai'i to be developed with this coveted certification in mind," said Matt Avril, president and managing director of operations, Starwood Vacation Ownership. "We have partnered with Arup, a global firm of designers, engineers, planners, and business consultants renowned for its expertise in green design, to ensure that the design and operation of the resort is environmentally responsible and contributes to Maui's future sustainability."

LEED certification recognizes buildings' superior performance in areas including sustainability of site, water efficiency, energy savings, materials and resources, indoor environmental quality, and innovation in design. The new, full-service resort will build and operate its own desalination and heat exchange system, which will produce drinkable water on site and utilize cool salt water for its air conditioning system. In addition, a state-of-the-art cogeneration system will provide most of the resort's electricity and hot water needs.

The beachfront property will be located in Ka'anapali North Beach, overlooking the Pacific Ocean with stunning views of the islands of Lana'i and Moloka'i. Just minutes away from the shopping, dining and attractions of Lahaina, the resort will be surrounded by the natural beauty of West Maui's beaches and mountains, which have made the area famous for whale watching, snorkeling, hiking, and horseback riding. The new property will feature 390 spacious, luxury villas including a mix of one-, two- and three-bedroom units.

"Globally, the Westin-branded vacation ownership resorts in Ka'anapali, Maui are two of SVO's most popular resorts among vacation ownership buyers and visitors seeking hotel accommodations," said Matt Avril. "With Maui being such an important market for SVO, we are pleased that we will be adding a third resort to our vacation ownership and rental offerings on the island."

SVO's new Ka'anapali North Beach resort will bring the company's total number of vacation ownership properties in Hawai'i to four. The first resort, The Westin Ka'anapali Ocean Resort Villas, opened in December of 2003. Four years later in December 2007, SVO opened its second Maui resort, The Westin Ka'anapali Ocean Resort Villas North. Earlier this year in April, SVO made its Kaua'i debut with the opening of The Westin Princeville Ocean Resort Villas.

In 2005, The Westin Ka'anapali Ocean Resort Villas received the ACE Project of Excellence, the highest accolade of the vacation ownership resort industry from the American Resort Development Association (ARDA). The property had among the highest Guest Satisfaction Index scores of any resort in the Starwood family and is the most requested resort for Starwood owners.

Starwood Vacation Ownership is a division of Starwood Hotels & Resorts Worldwide, which has a long history in Hawai'i and Maui beginning with the Moana Surfrider, the oldest hotel in Waikiki, built in 1901. Starwood also manages the Sheraton Maui Resort, the first hotel built on Ka'anapali Beach, Maui.

For more information on Starwood Vacation Ownership's resorts in Hawai'i, visit www.starwoodvacationownership.com or call 800.601.8699.