WHITE PLAINS, N.Y., November 17, 2004 – Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today that ground has been broken on the new Four Points by Sheraton Soho Village in Manhattan’s Soho neighborhood which will be the area’s first newly built moderately-priced hotel. The Four Points by Sheraton Soho Village will mark the hotel giant’s 14th property in New York City, and offers an affordable lodging alternative in one of Manhattan’s most vibrant neighborhoods. The hotel is owned by Soho Village Hotel, LLC. This will be the second Four Points by Sheraton hotel located in New York City, the first being the Four Points by Sheraton Manhattan Chelsea which opened in March 2004. The Four Points by Sheraton Soho Village is scheduled to open in July 2006.

Located at 66 Charlton Street between Varick and Hudson Streets in Soho on the border of Greenwich Village, the hotel will be situated in an area known for its diverse selection of galleries, eclectic nightlife, outstanding restaurants and shopping – including the recently opened Bloomingdale’s Soho.  The Four Points by Sheraton Soho Village will feature 150 guestrooms including two luxury suites with hardwood floors, 20-foot high floor to ceiling windows and 42-inch plasma TV screens. Corner rooms will have dual cityview exposure. The hotel’s guestrooms offer fabulous views of the Hudson River, a full-service restaurant, bar/lounge, fitness center and meeting space. 

“This property is Soho’s first newly built moderately-priced hotel ” said Hoyt Harper, II, the brand’s senior vice president. “Along with our Chelsea property, the addition of this second Four Points by Sheraton property in Manhattan provides Starwood with an increased presence in the downtown market and the desirable location illustrates the brand’s desire to develop properties in fashionable urban neighborhoods where travelers can enjoy an affordable alternative without compromising value and service.”

“We have been extremely pleased with the performance of our first Four Points by Sheraton hotel, Manhattan Chelsea, and we look forward to the opening of our second in Soho,” said Hung Luk, Executive Director for Chelsea Grand, LLC and Soho Village Hotel, LLC.

Gene Kaufman Architects is the architectural firm for the project and the design of the hotel’s interior was created by Chris Gordon, Starwood’s in-house designer for the Four Points by Sheraton brand. The look and feel of the interior design can be described as “industrial chic,” a style that combines the romance of city living with the frenetic rhythms of urban life.  The exterior design of the 20-story building will be constructed in black brick with a steel façade and feature steel beams that will be accented as part of the décor. Additional exterior elements include a steel and glass canopy covering the front plaza of the hotel.

All of the hotel’s guestrooms will be outfitted with the brand’s new signature Four Points by Sheraton Four Comfort Bed™, featuring a deluxe 11.5” Sealy Posturepedic® Plush Top Sleep System featuring a 9-inch high Shock Abzzorber® foundation; four large luxurious pillows including two feather/down and two Euro Square lounging pillows; a decorative and inviting cushioned duvet; and, crisp cotton blend sheets. The duvet features an attractive plaid design available in a rich palette of colors to match each hotel’s décor. In addition, all guestrooms will offer complimentary bottled water and free high-speed Internet access. The hotel will also be outfitted for wireless capabilities.

Four Points by Sheraton, with more than 136 properties in 17 countries, is owned by Starwood Hotels & Resorts Worldwide, Inc. and is consistently rated as a top performer in the mid-priced category by Business Travel News’ “Annual U.S. Hotel Chain Survey.” Four Points by Sheraton hotels are located at airports, in mid-sized cities, urban locations, leisure destinations, and business and commercial centers. Our hotels cater to business and leisure travelers as well as meeting planners seeking a quality, mid-priced and value-oriented product. In addition to the high-speed Internet access services, key features include an on-premise restaurant serving cooked-to-order breakfast, complimentary bottled water, room service with a 30-minute delivery guarantee, swimming pools, fitness facilities, business services and meeting space with catering facilities.

Starwood Hotels & Resorts is one of the leading hotel and leisure companies in the world with more than 750 properties in more than 80 countries and 110,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchisor of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as 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