Sheraton Opened Its First Hotel in Agoura Hills, CA

The opening of Sheraton Agoura Hills Hotel advances the Sheraton brand's strategic expansion plan that will add more than 65 new hotels and over 23,000 rooms to the Sheraton portfolio over the next two years

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. August 02, 2011

White Plains, NY - August 1, 2011 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced that its global powerhouse Sheraton Hotels opened its first hotel in Agoura Hills, California. The opening of Sheraton Agoura Hills Hotel advances the Sheraton brand's strategic expansion plan that will add more than 65 new hotels and over 23,000 rooms to the Sheraton portfolio over the next two years. The hotel was acquired by an affiliate of Wheelock Street Capital and is managed by Davidson Hotels & Resorts. The former Renaissance will undergo a comprehensive renovation to all guest rooms and public areas to meet Sheraton's new brand standards.

Located in the foothills of the Santa Monica Mountains, Sheraton Agoura Hills Hotel serves the Conejo Valley communities of Agoura Hills, Thousand Oaks, Westlake Village and Calabasas. Less than half an hour from Malibu and approximately 40 minutes from Los Angeles, the hotel is convenient to the 101 Business Corridor, the headquarter offices of Amgen, Farmer's Insurance, Dole Foods, The Cheesecake Factory and J.D. Power and Associates, as well as regional offices for Bank of America, Wellpoint and Alcatel-Lucent. Also nearby are world-famous Malibu beaches, Pepperdine University, several upscale shopping areas and a choice of premium golf courses.

“We are delighted to add Agoura Hills to our robust portfolio in California,” said Hoyt Harper, Senior Vice President, Sheraton Hotels & Resorts. “Sheraton is leading Starwood's global market share growth and due to the success of our recent rebranding effort is one of the most sought-after brands for conversion opportunities in key markets throughout the United States. This hotel will truly embody the new look and feel of Sheraton and will feature our newest brand initiatives designed to create community and make it easy to stay connected.”

Boasting sweeping mountain views, the hotel's 280 guest rooms are equipped with an oversized work desk, custom-designed ergonomic chair, high-speed Internet, LCD flat panel television, MP3 docking station and will feature the all-white Sheraton Sweet Sleeper® bed, designed to meet AAA's Five Diamond Award® criteria.

Sheraton Agoura Hills Hotel is ideal for business meetings and social functions of all sizes and features nearly 17,000 square feet of flexible meeting space with the latest in meetings technology. Additional amenities include a full-service restaurant, hotel lounge and outdoor swimming pool. The fully equipped fitness facility will offer the brand's revolutionary new health and fitness program, Sheraton Fitness, Programmed by Core Performance, designed exclusively for Sheraton guests through its partner Core Performance.

Starwood has spent the last few years renovating and rebuilding one of the hotel industry's most iconic brands and Sheraton now stands stronger than ever with the strongest portfolio in its history. The brand is gaining market share, RevPAR continues to rise, guest satisfaction scores are the highest in the brand's history and likelihood to return, likelihood to recommend and meeting planner and associate engagement scores are also at all-time highs - signaling that guests are taking notice and rediscovering the new Sheraton.

“We are proud to fly the Sheraton flag at our hotel and are impressed by the considerable improvements to the brand,” said Merrick R. Kleeman, a Managing Partner of Wheelock Street Capital. As the operator John Belden, President & CEO, Davidson Hotels & Resorts added. “By joining Sheraton, we can also tap into the powerful Starwood system and reach even more travelers via the award-winning Starwood Preferred Guest program.”