Westin and Intrawest Announce New Condiminium Hotel In Napa Va;;ey

Verasa To Arrive in 2008; Fifth Venture Between Starwood and Intrawest

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. October 14, 2008

WHITE PLAINS, NY, August 23, 2006 - Starwood Hotels & Resorts Worldwide, Inc. and Intrawest Corporation announced plans today to build the Westin Verasa Napa, a 160-unit luxury condominium-hotel located in America's premier wine region, Napa Valley, California. With construction beginning in late 2006 and a planned opening date of 2008, the highly anticipated Westin Verasa Napa will be the first full-service property to come to Napa in nearly five years.

Napa is an idyllic getaway in which to enjoy the best aspects of fine living. The hotel is located approximately two blocks east of downtown Napa -- and within walking distance to COPIA, The American Center for Wine, Food & the Arts, and a short drive from San Francisco. The Napa Valley is the foremost wine producing location in North America, well known for its culinary attractions, spas and a casual, inviting atmosphere making it a perfect location for a Westin Hotel.

"This Napa location is the embodiment of Westin's vision of being a serene, relaxing haven for those with discerning tastes," said Sue Brush, senior vice president of Westin Hotels & Resorts. "The inspired architectural design, the integration with Napa's natural beauty and the Westin brand signature services and amenities provide the opportunity to own a truly unparalleled piece of the Napa valley. Everything Napa is just beyond your doorstep at the Westin Verasa Napa."

According to Kate King, president and CEO of the Napa Chamber of Commerce, "The addition of a Westin property in downtown Napa speaks to this area's rich heritage of delivering the world's best wines, shops and lodging to visitors. Napa is known worldwide as the heart of the American wine country and we welcome companies such as Starwood Hotels & Resorts and Intrawest as they look to become an integral part of Napa's local economy and stewards of the wine country experience for Napa's four-million visitors each year."

The Westin Verasa Napa Residences is a whole ownership condo-hotel - the newest trend in real estate. The property will add 160 hotel rooms and 5320 square feet of conference space to the Napa Valley. The hotel will be managed by Intrawest's Hospitality Management division.

The design of the hotel is based on historic regional precedents, recalling the many influences evident in Napa and Bay area architecture, including window bays, timbered elements, as well as wood, stone and concrete accents. The building embraces the Napa River with an expansive pool courtyard and south wing opening up to the river. Guests will also benefit from the signature services and amenities Westin is renowned for including the Westin Heavenly Bed and Westin Heavenly Bath. Additional amenities will include a pool, hot tub, conference space, fitness center, easy access to river walking paths, valet, concierge and other signature Westin services.

The new Westin brand positioning is centered on renewal and offering guests the services, products and amenities that will help them rejuvenate, relax and restore their mind, body and spirit. In keeping with this brand message, all Westin hotels in the U.S., Canada and the Caribbean are smoke-free.

The Westin Verasa Napa is the newest addition to the Westin brand which is in the midst of its most robust growth period in its 75-year history. Having signed more than 40 deals last year, and with more than 50 new hotels scheduled to open between now and 2009, Westin is the fastest growing upper-upscale hotel brand in the world. Parent company Starwood is aggressively growing its global footprint, having signed a record number of new hotel deals last year, and continuing to win more new upper-upscale and luxury projects than its competitors.

The Westin Verasa Napa will be the fifth Westin property managed by Intrawest, following The Westin Resort and Spa at Tremblant, Quebec; The Westin Trillium House at Blue Mountain in Ontario, Canada; The Westin Monache, Mammoth, which is currently under construction in Mammoth Lakes, California, and the Westin Imagine Orlando Residences which is currently under construction in Orlando, Florida.