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Press Release Starwood Hotels & Resorts Worldwide, Inc.
December 20, 2005
WHITE PLAINS, NY -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced yesterday a joint venture
agreement to build a new St. Regis Resort in Punta Mita, Mexico. Scheduled to open in late 2007, the new ultra-luxe
resort is being developed by Ideurban Consultores, one of Mexico's largest private development and construction
companies and DINE, master developer of Punta Mita. St. Regis Resort, Punta Mita will be the brand's second property
in Mexico, opening shortly after the St. Regis Hotel, Mexico City also set to debut in 2007.
Located 35 miles northwest of Puerto Vallarta on the Pacific Ocean surrounded by white sand beaches, spectacular
ocean views and lush tropical landscape, St. Regis Resort, Punta Mita will feature 120 magnificently appointed
guest rooms and suites each with its own outside shower, and approximately 65 luxury villas for both fractional
and whole ownership. The resort will offer signature services for which the St. Regis brand is renowned worldwide
including its trademark butler service, world-class concierge, exquisite design, and a magnificent spa.
The highly-anticipated resort will include Punta Mita's second Jack Nicklaus Signature golf course with greens
meandering through the resort grounds, a 10,000 square foot spa and fitness center, two full-service restaurants,
and a Beach Club with a pool grill and bar. The resort will also offer 7,000 square feet of meeting and function
space, ideal for a corporate retreat or a wedding celebration.
"There are few resort destinations in the world that combine the prestige, vision and raw natural beauty of
Punta Mita," said Kerry Hatch, president of St. Regis Hotels & Resorts. "This is truly one of the
world's most exquisite enclaves and an ideal location for a St. Regis resort."
"We are very proud to bring the addition of this exclusive hotel to Starwood's portfolio, this is a great
year for Starwood Latin America Division and we are very pleased to have such strong plans for the development
of the brand in the region," said Osvaldo Librizzi, President of Starwood Hotels & Resorts, Latin America.
Punta Mita is an innovative, master planned resort and residential community covering more than 1,500 acres on
a spear-shaped peninsula, surrounded on three sides by white sand beaches, Pacific Ocean waters and lush tropical
flora. The resort is a gated, low-density development and has been planned and designed in accordance with the
highest quality of international real estate development and environmental standards. The master plan of Punta
Mita calls for a variety of exclusive residential offerings and estate lots, a total of three championship golf
courses plus a tennis center, beach clubs, spa and wellness center, yacht pier, and a small commercial village.
St. Regis Hotels & Resorts includes the most celebrated properties in the world. Founded by John Jacob Astor
with landmark St. Regis Hotel, New York over a century ago, the company will unveil highly anticipated St. Regis
properties in Bora Bora, French Polynesia (2006) Fort Lauderdale (2006), Anguilla (2007), Mexico City (2007), Singapore
(2007), Atlanta (2008) Bal Harbour, FL (2008) and Deer Valley, UT (2008) that will further enhance the brand's
legacy. Personalized service and amenities, enviable locations and luxuriously localized design are recognized
worldwide as hallmarks of the St. Regis experience. For more information on St. Regis Hotels & Resorts, please
visit www.stregis.com.
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 Meridien and the recently announced Aloft(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
Please contact Starwood's new, toll-free media hotline at (866) 4-STAR-PR (866-478-2777) for photography or additional
information.
About DINE: DINE is Mexico's premier real estate developer with commercial, residential and master planned communities
throughout Mexico. They are a wholly owned subsidiary of DESC, one of Mexico's largest corporations with interests
in four sectors: real estate, petro-chemicals, auto parts and food products.
About IDEURBAN: Established in 1974, IDEURBAN is one of Mexico City's leading urban development companies delivering
a complete range of integrated real estate solutions and construction services. Supporting the needs of communities,
governments, commerce and industry on a local, national, and international basis, the company has led projects
in markets ranging from hospitality, residential, retail and commercial to highway infrastructure, mixed-use developments
and urban planning. IDEURBAN is recognized for its skilled professional staff and its commitment to the highest
quality and ethical standards. The company is currently involved in the development of the three largest private-sector
construction projects in Mexico City, including the St. Regis Hotel.
(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.)
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Contact: St. Regis Hotels & Resorts Meg Byrne, 212-339-6734 Megan.byrne@stregis.com
Source: Starwood Hotels & Resorts Worldwide, Inc.