WHITE PLAINS, N.Y. – December 8, 2008 – Consumers are crunching costs this holiday season, but it doesn’t mean they have to cut the annual holiday vacation.  By tapping into the power of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and its award winning hotel loyalty program, Starwood Preferred Guest®, members can book flights, hotel stays and more – cash free. 

SPG Starpoints can be redeemed for stays at more than 890 participating hotels and resorts worldwide and flights on hundreds of domestic and international airlines – all with no blackouts. Travelers can arrive at their holiday destination with presents in-hand by redeeming Starpoints at www.spg.com/redeem for gift certificates from SPG’s retail partners. And through SPG Moments, members can give themselves or loved ones an escape to the extraordinary. The online auction enables members to bid on once-in-a-lifetime experiences, like receiving the VIP treatment at red carpet Hollywood movie premieres, championship sporting events and the year’s hottest concerts. A full list of current experiences for auction can be accessed at www.spg.com/moments.

With SPG Flights, the groundbreaking new program launched in September, booking airfare is easy, convenient and affordable. Members can redeem Starpoints to cover the entire cost of flights by booking air travel at www.spg.com/flights where they can search for and select their preferred flight and class of service, and even earn airline miles.  SPG Flights allows member to book flights with No Blackouts and includes taxes and booking fees in the price of the flight.

“Spending time with family and friends over the holidays is more important than ever before.  The flexibility of the Starwood Preferred Guest program ensures our members can use their points to get the room or flight they want when they need it.” said Mark Vondrasek, senior vice president of Distribution, Loyalty, and Partnership Marketing for Starwood.

Designed as the simplest, most flexible and rewarding program of its kind, Starwood Preferred Guest launched in 1999 as the first hotel loyalty program to offer members No Blackouts when redeeming points. Giving millions of members unprecedented access to more upscale and luxury hotels in more countries than any of its competitors, SPG has captivated travelers and generated loyalty through rich rewards, outstanding member recognition and distinctive redemption options.  SPG is also the winner of more Freddie Awards than any other loyalty program.

Earning Starpoints has never been easier. Starwood Preferred Guest members can earn two Starpoints for every eligible U.S. dollar spent at over 890 participating Starwood hotels and resorts worldwide.  In addition, everyone can earn Starpoints by using the Starwood Preferred Guest credit card by American Express which gives new members 10,000 Starpoints with the first purchase and has no annual fee for the first year.  Also, up to 20,000 Starpoints per calendar year can be purchased by going to www.spg.com and there is no Starpoints expiration date for active members. 

About Starwood Preferred Guest:
The SPG program’s breakthrough policy of No Blackout Dates at the world’s most sought after collection of hotels, reinvented the hospitality loyalty program when it launched in 1999.  By creating a program centered on its members, SPG has developed the most passionate and knowledgeable membership base in the hotel loyalty space. Through its use of new technologies and innovative channels such as SPG.com, SPG.com/flights, thelobby.com, SPG Check-In, and others, SPG continues to innovate and lead the industry. By offering No Blackouts on standard rooms at 890 properties, No Blackouts on hundreds of airlines, and once in a lifetime experiences available through SPG Moments, the program has proven to be a big draw for the world’s most frequent travelers, and a significant competitive advantage for Starwood.   For more information about Starwood Preferred Guest please visit SPG.com or call (877) – STARWOOD. 

About Starwood Hotels & Resorts Worldwide, Inc.:
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 900 properties in more than 100 countries and 155,000 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®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft^SM and Element^SM. 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 www.starwoodhotels.com.