White Plains, NY/Wilmington, Delaware- November 19, 2007: aloha! Starwood Hotels & Resorts Worldwide, Inc.® (NYSE:HOT) and its much-anticipated new lifestyle brand, aloft smhotels, announced today that aloft is partnering with The Buccini Pollin Group, Inc. to open a hotel in Wilmington, Delaware.
aloft Wilmington is an adaptive reuse of the historic, beaux-arts former WSFS Bank headquarters. This Wilmington landmark was built in the early 1900’s and creates a compelling exterior for aloft’s ultra modern design. Located in the heart of Wilmington’s financial district, aloft Wilmington is in close proximity to the corporate offices of several financial institutions including DuPont, Bank of America, JP Morgan Chase and Wachovia Bank. The hotel is located in the midst of the restaurants, shops and entertainment venues of the pedestrian-friendly Market Street Mall and exciting Riverfront area of Wilmington. Nearby attractions include Winterthur Museum, the Grand Opera House and Frawley Stadium, home of the Blue Rocks baseball team.
“aloft Wilmington will provide travelers with a forward-thinking, social environment, all within easy access to the city’s business, entertainment and shopping centers, ” said Brian McGuinness, Vice President of aloft and element hotels worldwide. “We’re thrilled to bring a fun new way to play and stay to the First State.”
“We are proud of this latest landmark project that furthers our efforts on Market Street and throughout the city of Wilmington to add more first-class and thoughtfully designed places for the citizens of this great city to stay, shop, work and play,” remarked Dave Pollin, President, Global Hospitality, of The Buccini/Pollin Group.
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, aloft stays true to W’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 2008, with locations expected to be anytown/anywhere… For more information on aloft, please visit www.alofthotels.com.
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 2008, with 500 properties worldwide expected by 2012.
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 890 properties in more than 100 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®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, 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.
About The Buccini Pollin Group
The Buccini/Pollin Group, Inc. (Buccini/Pollin) is a privately-held, full-service real estate acquisition, development and management company with offices in Washington DC, Wilmington Delaware, Philadelphia, New York City, and Beijing, PRC. Formed in 1993, Buccini/Pollin develops and acquires hotel, office, multi-family, townhouse, flex office, retail, and parking properties in the Mid-Atlantic and Northeastern regions of the United States.
On behalf of its principals, investors and financial partners, Buccini/Pollin has acquired or developed over $3.0 billion in assets including 7 million SF of office, flex office and retail space in 69 buildings, 23 internationally branded hotels, and 9 major residential communities.
The principals of Buccini/Pollin, along with BPG Real Estate Partners, LLC (real estate investment funds), PM Hospitality Strategies, Inc. (hotel operating company), BPGS Construction, LLC (construction management) and BPG Real Estate Services, LLC (office and industrial property management and leasing), oversee all aspects of project acquisition, finance, construction, leasing, operations, and disposition for its portfolio properties.
Buccini/Pollin's ability to rely on the expertise of its own in-house professionals for construction and management efficiencies is integral to the firm's success and its superior investment returns.
Pollin/Miller Hospitality Strategies, Inc. (PMHS) is the hotel management affiliate of The Buccini/Pollin Group (Buccini/Pollin). Based in Washington, DC, the company manages all of Buccin/Pollin's hotel assets, providing development, technical consulting, on-site management, and accounting expertise.
Concentrated in the Mid-Atlantic, PMHS manages full-service and select-service hotels in the Hilton, Starwood, Marriott and Choice families of brands. Since the opening of its first hotel in 1996, PMHS has participated in the development and acquisition/renovation of 23 hotels with a market capitalization approaching $1 billion. PMHS is currently pursuing international growth, having recently opened an office in Beijing, PRC.
(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.)