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Starwood Hotels & Resorts and Caesar Park Hotels and Resorts Reach Settlement in Outstanding Lawsuit

No Payments Involved Through Mutual Agreement

Press Release: Starwood Hotels & Resorts Worldwide, Inc.
October 19, 2004
WHITE PLAINS, NY -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced yesterday that it has reached a settlement agreement with Caesar Park Hotels and Resorts where no money was exchanged in relation to an outstanding lawsuit filed in New York State Court relating to Starwood's management practices at seven Caesar Park owned properties.

Starwood's long-term management contracts with the seven hotels mentioned in the suit will remain intact. The hotels include The Westin La Paloma Resort and Spa, Tucson, Arizona; The Westin Resort, Hilton Head Island, South Carolina; The Westin Calgary, Alberta, Canada; The Westin Edmonton, Alberta, Canada; The Westin Ottawa, Ontario, Canada; The Westin Bayshore & Marina, Vancouver, Canada; and, The Westin Harbour Castle, Toronto, Canada.

"We are pleased that this matter has been resolved and we can move forward and continue our existing management relationship with Starwood," said Shunichi Matsui, President, Caesar Park Hotels and Resorts Asia Corporation. "We have always felt that Westin was the perfect brand fit for this portfolio of properties."

Ken Siegel, Starwood's Executive Vice President and General Counsel said "We sincerely appreciate Caesar Park's strong support for the Westin brand and look forward to continuing to manage these fine properties."

Starwood Hotels & Resorts Worldwide, Inc. 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.starwood.com.

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Contact: 
     Starwood Hotels & Resorts Worldwide, Inc.
     Nadeen N. Ayala, 914-640-8259

Source: Starwood Hotels & Resorts Worldwide, Inc.