aloft Chicago O’Hare Breaks Ground May 31, 2007

Chicago, IL – May 31, 2007 - aloha!  Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and its much-anticipated new lifestyle brand, aloft hotels, announced today that aloft is partnering with Continental 191 Fund LLC to break ground on its first hotel in Illinois.

aloft Chicago O’Hare, located at the intersection of Balmoral Ave. and Otto Ave., is just minutes from the Chicago O’Hare International Airport.  The 251-room hotel gives business and leisure travelers easy access to nearby business centers and local attractions in downtown Chicago.  The property is expected to open its doors in early 2008.

“Chicago is the cultural, financial and business capital of the Midwest and in a typical year, 33 million visitors come to Chicago to enjoy its landmarks, history and people,” said Ross Klein, President, Starwood Luxury Brands Group and aloft hotels.  “With aloft, now they can visit in style. We’re excited to bring a fun new way to play and stay to the Windy City.”

“Continental Properties is proud to partner with Starwood to bring this exciting new hotel concept to the Chicago marketplace," said Paul Seifert, Chief Legal Officer for Continental Properties Company, Inc.  "Our company has a reputation of building top-quality, innovative projects throughout the United States, and aloft is a perfect fit.  We look forward to opening aloft Chicago O'Hare, and to working with Starwood to bring this unique lodging and lifestyle experience to travelers in other markets, as well."

As a Vision of W Hotels, aloft is shaking up the lodging industry with urban-influenced design, accessible technology, style and a social atmosphere. aloft offers a total sensory experience, with guest lofts featuring loft-like nine-foot ceilings and oversized windows to create a bright, airy environment. The centerpiece of the loft room is the ultra-comfortable signature bed, and large stylish bathrooms complement the guest experience with oversized walk-in showers and amenities created by bliss spa®.Each guest loft is also a combination high-tech office and entertainment center, featuring wireless internet access and plug & play , a one-stop connectivity solution for multiple electronic gadgetry such as PDAs, cell phones, mp3 players and laptops - all linked to a large flat panel HDTV ready television for optimal sound and viewing.

Designed in conjunction with world renowned David Rockwell and the Rockwell group, the aloft brand stays true to the W brand’s heritage, offering atmospheric public spaces designed to draw guests from their rooms to socialize and make friends. Guests can read the paper, work on their laptops via hotel-wide wireless internet access, play a game of pool or grab a drink with friends at the re:mix communal lobby area and bar w xyz . The re:charge fitness center and splash , the indoor or outdoor pool, give travelers options to de-stress and re-energize; while re:fuel by aloft , a one-stop food and beverage area, offers sweet, savory and healthy food, snacks and beverages to grab & go, 24-hours a day. 

The first aloft hotels are targeted to open in first quarter, 2008, with locations expected to be anytown/anywhere… For more information on aloft, please visit www.alofthotels.com.

About aloft

Infused with the DNA of W Hotels, aloft is a new destination sensation featuring loft-inspired design, accessible technology and a stylish urban attitude. Starwood anticipates the first aloft hotels to open in early 2008, with 500 properties worldwide expected by 2012.

About Starwood Hotels & Resorts, Worldwide

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 Continental Properties

Continental Properties is an owner, developer and manager of premium real estate located throughout the United States.  Our wealth of staff and financial resources, superior thinking, and astute industry knowledge are the tools we employ to create attractive and successful developments that benefit our tenants and enhance the communities we serve. 

(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.)


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