Four Points by Sheraton Opens New Hotel in the Heart of Historic Downtown Philadelphia

Four Points by Sheraton Opens New Hotel in the Heart of Historic Downtown Philadelphia

Four Points by Sheraton Philadelphia City Center is Walking Distance to Convention Center, Historical Attractions, Shopping and Dining

December 05, 2008 // // White Plains, NY –– Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to open a new Four Points by Sheraton hotel in the heart of downtown Philadelphia. Owned and developed by Lam's Realty Corporation and managed by Marshall Management, Inc., the hotel offers 92 spacious rooms, a lively social atmosphere and easy access to Philadelphia's business community and leading historical attractions.

Located just one block from the Philadelphia Convention Center, Four Points by Sheraton Philadelphia City Center is halfway between Independence Hall and Logan Square. Close to the Philadelphia Museum of Art and the University of Pennsylvania, the hotel also offers convenient proximity to Chinatown, City Hall and the Reading Terminal Market. Nearby corporate offices include GlaxoSmithKline, KPMG, IBM and Accenture, while Philadelphia International Airport is a quick 20-minute drive from the hotel.

"We are delighted to grow our portfolio in the 'City of Brotherly Love' to address the heightened demand for moderately priced lodging in urban neighborhoods," said Sandy Swider, Vice President, Four Points by Sheraton. "Four Points by Sheraton Philadelphia City Center will provide guests with just what they want and need – comfortable rooms, an engaging social atmosphere, fresh, clean style, and little indulgences to help them feel special at the end of the day."

In the evening, guests are invited to kick back and relax in the hotel's family room with friends and colleagues while digging into a tasty slice of pie. Domestic and international brews are served in the hotel lounge, courtesy of the popular Four Points by Sheraton Best Brews® program.

Four Points by Sheraton Philadelphia City Center will also offer 2,688 square feet of state-of-the-art meeting space including a beautiful penthouse ballroom on the tenth floor with fabulous views of the Benjamin Franklin Bridge, City Hall and the city skyline. For more intimate meetings, the hotel offers a spacious boardroom on the main floor, adjacent to the library where guests can relax, read or surf the internet. Additional facilities include an inviting restaurant, fitness facility and free high-speed Internet in all public areas and guest rooms.

Designed for comfort, guest rooms feature the Four Points by Sheraton Four Comfort Bed®, featuring plush mattress, an assortment of pillows, and a duvet in a rich palette of colors. In their rooms, guests will also in-room movies on a state-of-the-art 32-inch flat panel television and free bottled water.

About Lam's Realty Corporation

Based in Philadelphia, P.A., Lam's Realty Corporation was founded 15 years ago by President Steve Lam, and his son, Vice President, Henry Lam. Lam's Realty has been in hotel development and operations for over 15 years. The company's current construction of the Four Points by Sheraton Philadelphia City Center is its first venture with Starwood Hotels. The company has developed and managed Holiday Inn, Ramada and Wyndham brands in both metropolitan and suburban locations. An entrepreneurial organization, Lam's Realty will continue looking for opportunities for hotels that meet their long-term goals.

About Marshall Management

Salisbury, Md.-based Marshall Management, Inc., founded in 1980, has special expertise in operating three- and four-star branded hotels and resorts, averaging 100 to 400 rooms, in urban and central business districts, suburban/drive-to and resort locations. In addition, the company has a proven track record managing independent resort and unique urban properties. The company has managed a wide array of leading hotel brands, including Hilton, Starwood, InterContinental Hotel Group, Hyatt, Choice and Wyndham.

About Four Points by Sheraton

Four Points by Sheraton, with 130 properties in 22 countries, offers the self-sufficient traveler a new kind of style and comfort combined with a spirited "can-do" service -- all at an honest value. Four Points by Sheraton hotels are located in easy-to-reach areas – close to major airports, suburban centers, urban hot spots and resort and vacation destinations. Four Points' Simple PleasuresSM program celebrates the little things in life that make a big difference in guests' travel such as a great beer, a complimentary bottle of water, and a tasty treat at the end of a long day. It's those little extras that score big points with Four Points by Sheraton customers.

About Starwood Hotels & Resorts

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 900 properties in more than 100 countries and 155,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched aloftSM, and ElementSM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts.

(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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