Starwood and Stonebridge Launch Sheraton Roanoke

Follows $18 mil Renovation, the addition of a New Concept Restaurant, a Link @ Sheraton Communicatio

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. April 15, 2009

APRIL 15, 2009 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) and Stonebridge Companies announce the opening of Sheraton Roanoke Hotel & Conference Center, following a comprehensive $18 million renovation.

The newly opened Sheraton Roanoke Hotel & Conference Center is surrounded by the Blue Ridge Mountains with convenient access to Roanoke's leading attractions and businesses. Ideal for both leisure and business travelers, the inviting, full-service hotel offers 320 spacious guest rooms, 17,000 square feet of meeting space, and a warm, interactive setting.

The opening of the Sheraton Roanoke Hotel & Conference Center also heralds the revitalization of the iconic Sheraton brand. By the end of 2009, Sheraton will have added 50,000 new rooms and newly renovated rooms in North America alone. The worldwide, multi-year revitalization program began in 2007 and includes an investment of over $2 billion in new hotels, $1.3 billion in renovations and $400 million in signature brand initiatives.

"Sheraton Roanoke Hotel & Conference Center is a delightful addition to our expanding portfolio in the southern United States," said Hoyt Harper, Senior Vice President, Sheraton Hotels & Resorts. "We invite travelers to make connections in an atmosphere that is both welcoming and relaxing, while enjoying personalized service and the full suite of Sheraton signature services and amenities."

"Our vision was to create a product that complements Roanoke's vibrant culture," said Navin C. Dimond, President and Chief Executive Officer of Stonebridge Companies. "We chose to work with Sheraton Hotels because they are in tune to what today's travelers look for in a premium hotel property."

One highlight of the recently refurbished hotel is the addition of the Pi Kitchen. This sleek, new concept restaurant offers a warm and inviting atmosphere for guests to enjoy a meal with friends or colleagues. Executive Chef Jay Cooper serves up an eclectic "global fusion" menu that puts a contemporary spin on traditional favorites with Asian, American, Mediterranean and Southern influences.

A key component of Sheraton Roanoke Hotel & Conference Center's lobby redesign is a new signature hotel offering: the "Link@SheratonSM experienced with Microsoft(R)," a unique lobby lounge that enables today's travelers to stay connected with instant access to information and technology for work, leisure and social networking. The Link@Sheraton is designed to serve the needs of Sheraton's core guests who are social individuals seeking to balance work and play while also sharing the travel experience with each other. Designed as a social destination, the Link@Sheraton invites guests to interact with each other while they check their email, research local attractions, send video postcards and even print boarding passes using free Wi-Fi and Internet-enabled computer stations

All 320 guest rooms and suites are decorated in classic modern style with soothing warm tones and dark woodwork, and furnished with Sheraton Sweet Sleeper BedsSM. Thoughtful extras make stays extra comfortable. In-room coffee makers with Starbucks Coffee get guests off to a great start. Each room offers an oversized work desk, refrigerators, cable channels, in-room movies, iron/ironing board, hairdryer, individual climate control, dual-line speaker phone, and ergonomic desk chair.

Other amenities include both an indoor and outdoor pool, fitness facility, sundry and gift shop, and a VIP floor. Ideal for meetings and social functions of all sizes, the hotel offers 17,000 square feet of banquet and conference space, including a Grand Ballroom for gatherings of up to 700 people.

Hospitality veteran Mr. Fadi Touma will serve as the General Manager for the Sheraton Roanoke Hotel & Conference Center. The property will host a series of open house events and tours to showcase the fresh, new property.