Starwood Hotels & Resorts Announces Five New Projects in
St. Regis and Sheraton Deals Reinforce Starwood's Position as the Country's Number One Operator of Upscale Hotels
SHANGHAI, Feb. 20 /PRNewswire-Asia/ -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), the largest international upscale hotel operator in China with 47 existing properties, announces the addition of five new hotels to its growing portfolio. The new signings include the first St. Regis resort in Sanya; the first St. Regis hotel in Chengdu, Sichuan; the first Sheraton hotels in Jiangyin and Dalian; and a second Sheraton resort in Huizhou, Guangdong.
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Focused on opening the right properties in the right places with the right partners, Starwood remains on track with plans to double its footprint in China by 2011 with 50 hotels in the pipeline. In 2009, the company will open more than 10 high caliber, best-in-class hotels throughout China, including Le Meridien Xiamen, The Westin Nanjing, Sheraton Qingdao and Four Points by Sheraton Guangzhou.
"Starwood's long term growth opportunity in China is perhaps unsurpassed anywhere in the world. China is home to the largest number of our hotels outside of North America, and more importantly, it comprises the largest portion of our pipeline outside of the United States," said Frits Van Paasschen, President and Chief Executive Officer of Starwood. "As a point of perspective, within two years we expect to have a presence in Shanghai that rivals our existing footprint in New York City, where we have a strong representation of more than a dozen hotels and growing."
In 2008, Starwood opened eight new hotels in the China region including its first W Hotel in China; the first Aloft Hotel in Asia; Four Points by Sheraton Hangzhou, Binjiang; Four Points by Sheraton Changshu; Sheraton Huizhou Resort; The Westin Beijing Chaoyang; Four Points by Sheraton Beijing, Haidian; and Le Meridien Shimei Bay Beach Resort & Spa.
Starwood to bring two new St. Regis and three new Sheraton hotels to China
The St. Regis Sanya Yalong Bay Resort
Starwood Hotels & Resorts Worldwide, Inc. has reached an agreement with Yalong Development Company Limited, a direct subsidiary of China Cereals and Oils Export Company to manage The St. Regis Sanya Yalong Bay Resort. The new-build St. Regis resort will welcome travelers to Sanya of Hainan Island, also known as the oriental Hawaii, in 2011. Being part of the integrated beach resort, The St. Regis Sanya Yalong Bay Resort will be situated in the last prime site along the Yalong Bay coastline with the most exclusive and exotic location. The property will feature 402 rooms, including 27 villas, approximately 22,000 square feet of meeting space, five restaurants and bars, business center, health club, outdoor heated lap pool and swimming pools, tennis court, spa and retail shops. Guests at The St. Regis Sanya Yalong Bay Resort will delight in the hotel's uncompromising service through the signature Butler Service.
The St. Regis Chengdu
Developed by a wholly-owned subsidiary of Chinese Estates Holdings Limited, Evergo Enterprises (Chengdu) Company Limited, The St. Regis Chengdu will be located in the Central Business District, next to the city main boulevard, adjacent to the commercial zones and within 30 minutes drive from Chengdu Shuangliu International Airport. Scheduled to open in 2014, the hotel will feature approximately 268 rooms including 55 suites, four food and beverage outlets, 1,400 square meters of meeting space, as well as a health club, Spa, swimming pool and a retail shop. As the capital of Sichuan Province, Chengdu is known as "Land of Abundance." It is one of the most important economic centers and transportation and communication hubs in Southwestern China.
Sheraton Jiangyin Hotel
Scheduled to open in 2011, Sheraton Jiangyin Hotel will be located in the Central Business District of Jiangyin, right across Jiangyin City Hall and next to the city's major tourist attraction, Huangshanhu Park. Jiangyin is the regional agricultural, industrial and economic center of China. It is approximately within 1 hour drive from Suzhou and 2 hours drive from Shanghai. Owned by Huangjia Hotel Co., Ltd, the Sheraton Jiangyin Hotel will be part of a mixed-use complex that will also include guesthouse and convention center. The hotel will feature 296 rooms and suites, 46,877 square feet of meeting space and convention center, three restaurants and two bars, business center, health club, indoor heated swimming pool, spa and a gift shop.
Sheraton Dalian Xinghai Hotel
Owned by Dalian Air-Way Real Estate Development Co., Ltd, Sheraton Dalian Xinghai Hotel is the first Sheraton hotel in Dalian, and is targeted to open in 2012. Located in Xinghai Square -- East Asia's largest square in Dalian, the Sheraton Dalian Xinghai Hotel will help guests feel they truly belong in an area known for its fresh sea foods and beautiful views. Being part of a mixed-use complex that will also include two residential apartments, the new Sheraton will consist of 637 rooms and suites, three restaurants and one bar, 24,000 square feet of meeting space, indoor heated swimming pool, health club, spa and a retail shop. Most of the hotel guestrooms will face Xinghai Square with excellent sea view. Xinghai Bay area is planned as the new financial business district and exhibition center of Dalian.
Sheraton Bailuhu Resort, Huizhou
Starwood Hotels & Resorts has entered an agreement with Huizhou Bailuhu Tour Enterprise Development Co., Ltd, a subsidiary of Agile Property Holdings Limited, to manage a 438-room Sheraton resort including 2 presidential villas in Huizhou, Guangdong, expected to open in 2012. Situated along the Bailuhu (Egret Lake) in Ru Hu Town, the hotel is approximately 9 km from the Huizhou city centre, 16 km from the Huizhou Airport, 60 km from Hong Kong and 100 km from Guangzhou. The hotel will offer approximately 44,00 square feet of meeting space, four food and beverage outlets, business center, health club, indoor heated swimming pool, pampering spa and retail shops. Offering all of Sheraton's signature comforts, the resort will be part of an integrated water and golf resort community that includes Bailuhu and a 27-hole golf course.
Starwood Hotels & Resorts Worldwide Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 930 properties in approximately 97 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Méridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched AloftSM, and ElementSM. 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 http://www.starwoodhotels.com .
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.