STAMFORD, CT, March 18, 2013 – Starwood Hotels & Resorts Worldwide, Inc.® (NYSE:HOT) today announced that its leading-edge Aloft brand has debuted in Cupertino, California. Aloft Cupertino is the brand’s third hotelin California and its first in Silicon Valley, reflecting the rising demand for Aloft in vibrant markets worldwide. Owned by Shashi Corporation and managed by Azul Hospitality Group, Aloft Cupertino offers 123 spacious, loft-like rooms, forward-thinking technology and a vibrant, social atmosphere.

“We are thrilled to bring Aloft to Cupertino where we expect it will emerge as a favorite with savvy travelers and area professionals in a community that buzzes with excitement, innovation and thought leadership,” said Brian McGuinness, Senior Vice President, Specialty Select Brands for Starwood.

Located in the heart of Cupertino’s business district, Aloft Cupertino is adjacent to the Apple campus and walking distance to the City Center. Also nearby are the offices of Hewlett Packard, Google and IBM, Santa Clara University, HP Pavilion, Winchester Mystery House, the upscale shops and eateries on Santana Row, and a selection of wineries and world-class golf courses.  Hotel amenities include an indoor pool, w xyz ^smbar, 24-hour fitness center and 1,350 square feet of flexible meeting space, ideal for both business meetings and social gatherings. Aloft Cupertino is also pursuing LEED certification and offers many environmentally friendly programs and design elements.

“We are thrilled to introduce the Aloft brand to Cupertino, the epicenter of global innovation,” said Dipesh Gupta, CEO of Shashi Group. “With its flair for design and dynamic social scene, Aloft Cupertino is a great match for the energy of Silicon Valley.”

We are excited to join forces with Shashi Corporation and Starwood Hotels & Resorts on this unique opportunity,” said Christopher Herthel, Executive Vice President of Somera Capital Management

Los Angeles-based Canyon Capital Realty Advisors (CCRA) provided the senior construction loan for the project, which was used to purchase the land and construct the brand new hotel.

“Canyon’s hospitality group has been active for many years, helping to facilitate complex transactions across the United States,” said CCRA Principal Jonathan Roth. “We are proud to expand our reach to Cupertino, and to lend our expertise to help make the beautiful and innovative Aloft Cupertino a reality.”

Showcasing many of the brand’s newest technologies, Aloft Cupertino is the first Aloft hotel to feature Apple TV in all its guestrooms. Guests can choose among thousands of movies and TV shows from iTunes, connect to Netflix for films, Hulu for television shows, MLB.com for sports, and much more.  Apple TV’s Airplay feature will also let guests play video, show off photos, and enjoy music from any iPhone, iPad, or iPod Touch – right on their 42-inch LCD in-room TV. In the lobby, guests can access “Cool Concierge,” a tablet-based concierge program that guests can use to look up directions, phone numbers, make reservations, check their flight status and print boarding passes. Starting in March, the hotel will also offer Smart Check-In, allowing guests to bypass the front desk and go straight to their rooms using radio frequency identification (RFID) technology.

Pioneering initiatives in music, design, and technology have positioned Aloft as a must-have  brand for the next generation of travelers. Aloft has reported consistently high guest satisfaction scores since launch, reflecting the success of its modern and vibrant design at an affordable price point. Aloft's social guest experience, with the buzzing re:mix lounge and w xyz bar, has also earned select hotels within the portfolio designations in TripAdvisor's 2012 "Top 25 Trendiest Hotels in the US" rankings.

About Aloft Hotels
With more than 60 hotels in 10 countries, Aloft has changed the hotel landscape by offering ‘style at a steal’ everywhere from Baltimore to Beijing to Bogota to Brussels – and everywhere in between. For more information, please visit www.alofthotels.com.

Aloft, like all brands within Starwood's portfolio, is proud to offer the Starwood Preferred Guest^(R) program, which offers a breakthrough policy of no blackout dates on Free Night Awards. To learn more, please visit www.spg.com. 

About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1,134 properties in nearly 100 countries and 171,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and ElementSM. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.

About Shashi Group
Founded in 2004 in Silicon Valley, Shashi Corporation is a privately held real estate development and asset management firm, with a special focus on hospitality. Shashi specializes in creating long term value by penetrating high barrier to entry markets with lifestyle oriented designs and leading world-class brands.

About Azul Hospitality Group
Azul Hospitality Group, a Preferred Management Company for the Aloft brand, has a robust infrastructure of industry professionals with extensive experience in all aspects of hotel management and development services.  The company’s primary focus is on upscale hotels and resorts, with unique destination and product attributes, located in the western United States. Other recent projects with Starwood Hotels and Resorts include the Sheraton Carlsbad Resort & Spa in Carlsbad, California, and the Sheraton Redding at Sundial Bridge in Redding, California.

About Somera Capital Management
Somera Capital Management, LLC is a fully integrated real estate investment and portfolio management company with headquarters in Santa Barbara, California and an additional office in Washington D.C. Somera has managed approximately $600 million of total transaction equity committed to over 70 transactions throughout the United States, representing a total transaction and cost basis of approximately $2.0 billion.

About Canyon Capital Realty Advisors
Canyon Capital Realty Advisors LLC (CCRA) is the real estate direct investing arm of Canyon Partners, LLC.   Canyon Partners and its affiliates, including Canyon Capital Advisors, CCRA and ICE Canyon, are investment management firms and registered investment advisors headquartered in Los Angeles, California, with approximately $20 billion in assets under management.

DUBAI – March 12, 2013 – Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) is strengthening its position as the leading hotel operator across the Middle East and Africa (MEA) region with an existing portfolio of 82 hotels, representing nearly 22,000 guest rooms, the majority of which are operated under Starwood’s world-renowned Sheraton and Le Méridien brands.  The company announced today that it will increase its MEA portfolio by more than 60% with nearly 50 new hotels set to open over the next five years, adding more than 14,000 guest rooms to the region while creating thousands of local employment opportunities. With over 20 hotels expected to open by the end of 2015, Starwood is on track to reach a milestone 100 hotels across MEA. Further underscoring the importance of the region as one of Starwood’s fastest growing hotel and travel markets, earlier this month the company relocated its global headquarters from Stamford, Connecticut to Dubai for a month-long immersion.

“Starwood continues to see demand for growth of all of our brands across the Middle East and Africa despite economic and political uncertainty in some parts of this incredibly diverse region,” said Frits van Paasschen, President and CEO, Starwood Hotels & Resorts.  “Rapid economic growth, rising personal incomes, a growing middle class and ever greater global connectivity are driving new travel patterns and demand for travel, and this region is at the center of these trends and a key focus of our growth strategy.”

With more than 70% of the world’s economic growth coming from fast-growing markets over the next few years, Starwood is focused on expansion in developing MEA markets such as the United Arab Emirates (UAE), Saudi Arabia, Algeria, Egypt, Senegal, South Africa and Nigeria. The company is also focused on growth opportunities in key emerging markets including Iraq, Pakistan, Angola, Ghana, the Ivory Coast and East Africa.

By 2017, Starwood will operate more than 130 hotels in MEA, marking some key milestones, including:

•          Portfolio growth of over 60% in the UAE with 12 new hotels, including six in Dubai, bringing Starwood’s portfolio to more than 30 hotels across the country. Starwood’s growth plans in the UAE also include expansion into Sharjah and Ajman.

•          Rapid expansion across Saudi Arabia with six new hotels slated to open by 2015 bringing Starwood’s portfolio to 15 hotels in this key developing market.

•          The re-entry of Starwood into Iraq with the milestone signings of three hotels across three brands in the city of Erbil, located in the re-emerging Kurdistan area of the country.

•          Momentum in Nigeria with two new Starwood hotels, under the company’s Four Points by Sheraton brand.

•          Addition of two new hotels in Algeria with a new Sheraton hotel in Annaba and Four Points by Sheraton in Oran.

•          The launch of Starwood’s Aloft Hotels brand in Saudi Arabia and Iraq. Aloft will also open its second property in the UAE in emirates of Sharjah.

Starwood Strengthens Luxury Portfolio
In 2011, Starwood introduced its ultra-luxury St. Regis Hotels & Resorts brand in the region with the opening of The St. Regis Saadiyat Island in Abu Dhabi. This was followed by last year’s debuts of The St. Regis Doha and The St. Regis Mauritius, marking the entry of the brand into Qatar and Africa. This year, Starwood will unveil a second St. Regis hotel on Abu Dhabi’s vibrant Corniche, making it the only city in the world to boast two St. Regis hotels. The brand will soon enter the Egyptian market with the opening of The St. Regis Cairo.

Starwood is also seeing rapid growth of its contemporary, design-led W Hotels brand. Following the successful launch of the brand in the region with the opening of W Doha in 2009, Starwood has plans to open six more W Hotels across MEA in key markets, including three in Dubai and one each in Abu Dhabi, Muscat and Amman by 2017.

“Our long-established presence, local teams, and strong relationships in the region remain a competitive advantage, and position us well to take advantage of the many opportunities for future growth,” said Simon Turner, President of Global Development & Acquisition, Starwood Hotels & Resorts. “We have a healthy pipeline of new hotels under development in the Middle East and Africa, and expect our growth to continue in 2013 as we look to expand in markets including the UAE, Saudi Arabia and Nigeria.

Conversion Opportunities in MEA
In addition to new hotel openings, Starwood is seeing increasing opportunities for hotel conversionsin MEA. In the past ten months, Starwood has signed three conversion deals in the region, including Sheraton Dubai Mall of the Emirates, which opened last month.

“Thanks to Starwood’s nearly 50 year history in the MEA region and the proven strength of our brands, the company is well positioned to take full advantage of growth,” said Roeland Vos, President of Starwood Hotels & Resorts, Europe, Africa & Middle East.  “We are seeing a large landscape of independent hotels ripe for flags in the region and we expect to capture more than our fair share of conversion opportunities across all of our brands. The recent conversion of the Sheraton Dubai Mall of the Emirates is a testament of this strategy.”

As Starwood continues its extensive expansion across MEA, the company is also focused on upgrading its existing portfolio of hotels in the region, primarily under the Sheraton and Le Méridien brands.

Starwood Relocates Global Headquarters to Dubai
Earlier this month, Starwood President & CEO Frits van Paasschen and the company’s top executives relocated to Dubai where they have been conducting day-to-day business from this increasingly important global destination and travel hub.  Following the company’s successful relocation to China in June 2011, this second leadership move reflects Starwood’s innovative management approach to cultivating a more global culture by understanding, appreciating and leveraging different societal perspectives and approaches to business and hospitality.

“With 80% of Starwood’s pipeline coming from rapidly growing markets, it is simply not possible to lead a truly global business from a boardroom in Connecticut,” said van Paasschen.  “Dubai epitomizes the changing face of travel, and we expect this relocation will deepen our relationships with partners, associates and customers. The insights that come from experiences like this move make us more agile in today’s rapidly changing world.”

About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1,134 properties in nearly 100 countries and 171,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and ElementSM. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. 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 and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Further results, performance and achievements may be affected by general economic conditions, including the duration and severity of any global or regional economic downturns, the availability of financing alternatives at acceptable terms, the impact of war and terrorist activity, business and financing conditions, foreign exchange fluctuations, cyclicality of the real estate (including residential) and the hotel and vacation ownership businesses, operating risks associated with the hotel, vacation ownership and residential businesses. 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 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.

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Press Contact:
Carrie Bloom
Starwood Hotels and Resorts
+1 203-964-5755
carrie.bloom@starwoodhotels.com