(Chesapeake, VA and White Plains, NY) - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) and LTD Management Company, L.L.C. today jointly announced plans to develop the first ELEMENT, as well as the first combined ALOFT and ELEMENT hotel project in Hanover, Maryland. ALOFT and ELEMENT are Starwood’s newest brands, bringing a fresh perspective to the select service and extended stay categories. Both hotels are slated to open in the Spring of 2008.
Conveniently located five miles south of the Baltimore Washington International Airport, the new ALOFT and ELEMENT hotels will offer travelers easy access to local businesses and attractions such as the Arundel Mills Mall and the Baltimore Zoo. Groundbreaking at the $6 million dollar, 4.67-acre tract of land in Hanover, is scheduled for Spring 2007. Both hotels will be built on the same location at 7522 Teague Road in Hanover, Maryland.
“Starwood is delighted to be working with LTD Management Company, a leading developer in the industry, to build the first-of-its-kind combined ALOFT and ELEMENT project,” said Paul Sacco, senior vice president, select hotels development. “Guests seeking an energetic and hip travel experience with spacious, loft-style rooms, will relish the opportunity to stay in ALOFT, while travelers in need of longer-term accommodations will appreciate the light, airy atmosphere and smart space living of ELEMENT.” Carrying the DNA of W Hotels, ALOFT offers stylish design with an urban flair -- all at an affordable price. The new ALOFT Arundel Mills will feature 142 rooms, complete with loft-like ceilings, over-sized windows, walk-in showers and natural materials such as teak. Ecologically-minded products and services will be available throughout the hotel, including eco-friendly detergents for laundry services and hotel design elements made from recycled materials. ALOFT’s signature amenities include the splash pool, the relax communal lobby area and bar and the backyard, a grassy space that encourages guest interaction. In addition, all rooms feature cutting-edge technology and large flat panel televisions.
Inspired by Westin Hotels & Resorts, ELEMENT offers a fresh perspective on the extended stay experience through smart design and natural touches. The new ELEMENT Arundel Mills will feature 145 rooms with oversized desks, full kitchens, spacious spa showers and ambient lighting. The open, modular flow seamlessly blends together each part of the room to create a residential feel. A signature breakfast offering, fully equipped fitness center and uninterrupted indoor/outdoor public spaces deliver a multi-functional, natural environment that provides guests with the space to work, relax, or socialize. Smart and intuitive ELEMENT staff will provide guests with the personalized attention they need and the space they desire to live a complete and balanced life.
“LTD is excited to contribute to the new business development in the
flourishing Hanover area. Our partnership with Starwood in the development of
the first ELEMENT and combined ELEMENT and ALOFT hotels will give both the
business and leisure traveler more reasons to extend their stay in this dynamic
area,” said Neel Desai, Managing Partner, LTD Management Company, L.L.C.
About Starwood Hotels & Resorts Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood® Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis®, The Luxury Collection®, Sheraton®, Westin®, Four Points® by Sheraton, W®, Le Méridien® and the recently announced ALOFTSM and ELEMENTSM Hotels. 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.
About LTD Management Company, L.L.C.
LTD Management Company, L.L.C., is an award-winning hotel development and management group headquartered in Chesapeake, VA. Since its inception in 1983, LTD has developed a reputation for creating an atmosphere “where distinction reigns.” The company currently operates 20 properties throughout Virginia, with 12 more hotels in the development pipeline and scheduled to open within the next two years. With the highest possible standards in mind, LTD prides itself with developing quality hotels under the franchise brands of Starwood, Marriott, Hilton and InterContinental. For more information, please visit www.ltdmanagement.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 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.)