Four Points by Sheraton to Open in Atlanta Area

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. October 14, 2008

WHITE PLAINS, NY, November 1, 2007. Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced an agreement with Paragon Hotel & Banquet to open one of the first Four Points by Sheraton hotels in the Atlanta metropolitan area. Four Points by Sheraton Atlanta-Duluth is scheduled to open in 2008 in Duluth, a nearby suburb that has experienced phenomenal growth in recent years. Owned by Paragon Hotel & Banquet, Inc., the new hotel will offer spacious rooms, comfortable beds and an engaging social atmosphere.

Four Points by Sheraton Atlanta-Duluth will be approximately 25 miles from downtown Atlanta and minutes away from the charming, historic downtown of Duluth, an ideal spot for strolling, shopping and dining. Despite its rapid growth, Duluth has remained a suburban oasis with a small town atmosphere, enhanced by its beautiful parks, annual festivals and variety of recreational activities including hiking, fishing and golf. Business travelers will appreciate the hotel's convenient access to the Atlanta area's bustling business community, which is home to numerous corporate headquarters including Coca-Cola, Home Depot and United Parcel Service. The hotel also offers proximity to Atlanta's leading attractions such as CNN Center, Georgia Aquarium and Turner Field - home of the Atlanta Braves.

"Four Points by Sheraton Atlanta-Duluth will give to travelers and to the dynamic Atlanta metropolitan area just what they need - great beds, free high-speed Internet, and the space they need to work or relax," said Sandy Swider, Vice President, Four Points by Sheraton. "The Four Points brand not only covers the basics, but goes beyond by offering little indulgences that will help guests feel special at the end of the day."

Greeting guests with the scent of warm apple cinnamon, Four Points by Sheraton Atlanta-Duluth will serve fresh pie and coffee in the hotel's lobby. Guests can relax in the family room area or enjoy a wide selection of international beers, provided by the popular Four Points by Sheraton Best BrewsSM program.

The fresh, "clean" design of the hotel's 125 guest rooms will create a welcome refuge at the end of the day. Guests can kick back and relax in the Four Points by Sheraton Four Comfort Bed, an ensemble that includes a plush mattress, an assortment of pillows and duvet. Rooms will also come with a 32-inch flat screen television, free in-room bottled water and complimentary high-speed Internet access.

An ideal location for small to mid-size meetings, Four Points by Sheraton Atlanta-Duluth will provide 7500 square feet of meeting space and full banquet and catering services. Additional facilities will include a restaurant serving three meals a day, a fitness facility, pool and Express Check Out service.

"We look forward to opening one of the first Four Points by Sheraton Hotels in the Atlanta Metro area," said Mr. Brian Ko. "With the tremendous growth of corporations in Atlanta and especially Gwinnett County over recent years, we have recognized a need for more upscale select service lodging and meeting space. We feel the Four Points by Sheraton brand will fill that need and will be a leader in that market sector."