Guang Dong Teem Contracts with Sheraton to Manage Hotel in Guangzhou

The Sheraton Guangzhou Hotel Part of the Mixed-use Complex - Teem Plaza Development

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. October 14, 2008

SINGAPORE, March 14, 2006. Starwood Hotels & Resorts Worldwide, Inc (NYSE: HOT) and Guang Dong Teem Holdings Limited have announced an agreement whereby Starwood will manage the Sheraton Guangzhou Hotel in the Guangdong province of China. The newly built 450-room Sheraton Guangzhou Hotel is scheduled to open in late 2008.

"We are honored to partner with Guang Dong Teem Holdings Limited to establish Sheraton Guangzhou Hotel. With the addition of this hotel in Guangzhou, we have further strengthened our foothold in the Pearl River Delta, a rapidly developing industrial base in China which has always seen strong demand for high end hotel room products and services to meet the expectations of both domestic and international frequent travelers to Guangzhou. With the lifting of the new hotel supply restriction in Guangzhou two years ago, many international branded companies have started to enter the city, to tap into this flourishing market of business travel in Guangzhou," commented Miguel Ko, President of Starwood Hotels & Resorts, Asia Pacific.

Sheraton Guangzhou Hotel will be located in the Tianhe district, Guangzhou's burgeoning central business district, and will be within 10 minutes' walk from the Guangzhou East Train station, the major access point for commuters between Hong Kong and Guangzhou. The hotel's advantageous location in Tianhe district also means that it will be near to the home of the Fortune 500 companies that have set up their offices in Guangzhou. The hotel will offer 450 guest rooms, 15,300 square feet of meeting space, five food and beverage outlets, a health club and club as well as an outdoor swimming pool. The hotel is also part of a mixed-use complex - Teem Plaza Development, comprising the hotel, grade A offices and an entertainment and retail center.

Guangzhou is the capital city of Guangdong and is the political, economical, cultural and technological hub of Guangdong province. Located in the center of the Pearl River Delta, Guangzhou is the largest coastal city in Southern China, also known as the main southern gateway to China. Currently, almost 130 Fortune 500 companies and major automobile companies have set up joint venture manufacturing plants in Guangzhou. The city is approximately a 2 hours' train ride from Hong Kong and is easily accessible through various modes of transport from the various cities in the Greater Pearl River Delta region ( including Hong Kong, Macau, Shenzhen, Zhongshan, Dongguan, Jiangmen and Zhuhai ). With the opening of the Bai Yun International Airport after Shanghai, Guangzhou has also attracted several new direct international flights from major Asian cities and United States of America.

Starwood currently operates Sheraton and Westin hotels in Macau, Hong Kong, Dongguan and Shenzhen in the Greater Pearl River Delta region. New hotels under development in the region include Sheratons in Zhongshan, Dameisha, Shenzhen and Guangzhou as well as a Westin in Guangzhou.

Starwood Hotels & Resorts has expanded its portfolio in China significantly in the last two years with the opening of Sheraton hotels in Haikou on Hainan Island and Dongguan, Le M'eridien She Shan, Shanghai, and Four Points by Sheraton Shenzhen. In the past 24 months, the company also signed agreements to manage new hotels in Shenzhen, Xiamen, Beijing, Changsha, Haikou, Guiyang, Hong Kong, Dameisha, Urumqi, Changshu, Shanghai, Zhongshan, Zhejiang and Taiyuan. With the signing of Sheraton Guangzhou Hotel, Starwood now has 23 hotels and resorts under construction in China under its Westin, Sheraton, W Hotels, Le M'eridien and Four Points by Sheraton brands.