Westin Atlanta Sold for $56.5 mil
Hotel Remains in Starwood Portfolio Under Long-Term Franchise Agreement
WHITE PLAINS, NY, May 04, 2006. Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announces the sale of the 369-room Westin Atlanta North at Perimeter in Atlanta, GA to Noble-DiamondRock Perimeter Center Owner, LLC for $56.5 million. The hotel will become a Westin franchise and will be operated d by Noble Investment Group's management division.
Located in the heart of the Perimeter's business district and within minutes of Atlanta's best shopping venues, The Westin Atlanta North at Perimeter sits alongside a private lake and offers a peaceful retreat within the city. The hotel is less than 30 minutes from downtown Atlanta and its major attractions, including the world's largest aquarium - the new Georgia Aquarium, as well as Atlanta's new retail and entertainment district - Atlantic Station. The hotel boasts 20,000 square feet of newly renovated, flexible meeting and banquet facilities, an amphitheater style learning center, and boardroom capable of meeting the demands of modern business.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood(R) Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), Sheraton(R), Westin(R), Four Points(R) by Sheraton, W(R), Le M'eridien(R) and the recently announced AloftSM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.
(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.)
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
