Aloft Unveils First Adaptive Re-Use Hotel Project

Aloft Unveils First Adaptive Re-Use Hotel Project

Aloft Dallas Downtown Opens in a Revitalized Former Railroad Depot; Hotel is the Fourth Aloft in Dallas Area

WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announces the debut of the Aloft® brand's first adaptive re-use project in the heart of downtown Dallas. Offering jet-setting style at a steal, Aloft Dallas Downtown opens in a historic railroad freight depot, now transformed into the city's newest destination sensation complete with 193 spacious, loft-like rooms, accessible technology and a hip, social atmosphere.

Aloft Dallas Downtown occupies an eight-story antique gem built in 1924 as a Santa Fe Railroad freight terminal and commercial dry goods warehouse. Evoking an era when train tracks formed the arteries of the commercial district, the sleek, new hotel delivers the Aloft brand's signature, urban-influenced design elements, while incorporating the building's distinct, structural attributes including original buff brick, large windows, structural pillars and high ceilings. Blending seamlessly into its loft-like, historic setting, this singular, contemporary hotel is owned by a joint venture between Hamilton Properties Corporation and Sava Holdings, Ltd., both Dallas-based development companies.

"In today's challenging economic environment, adaptive re-use projects like the Aloft Dallas Downtown can offer developers significant advantages and provide great benefits to communities in search of urban renewal opportunities," said Simon Turner, President of Global Development, Starwood Hotels & Resorts Worldwide, Inc. "Through the redevelopment of historic or older structures, developers can gain access to prime real estate to create an innovative and historically meaningful hotel, while benefiting from unique zoning opportunities and public subsidies. We see great opportunities to use this approach in many cities throughout the world."

Aloft Hotels shook up the select service industry with the debut of its first property in Montreal in June 2008. Fueled by the popularity of its prototype hotel, Aloft has since opened 30 more hotels in three countries. While the Aloft prototype continues to generate strong enthusiasm among owners, developers and hotel guests, Starwood plans to further the brand's footprint through adaptive, re-use projects like Aloft Dallas Downtown.

"While all of Starwood's nine lifestyle brands are candidates for adaptive reuse projects, Aloft is particularly well-suited based on its urban design aesthetic and appeal to savvy travelers," said Brian McGuinness, Senior Vice President of Specialty Select Brands for Starwood. "In this case, an 85 year-old railroad depot was successfully transfigured into a modern, hip hotel by incorporating the loft-like design scheme, high ceilings, open floor plans and large windows that are characteristic of Aloft."

The transformation of the original train depot into Aloft Dallas Downtown was completed over a three-year period under the direction of architecture and design team at One Group Design, LP.

"The designer did a fabulous job marrying the old building with the new. We essentially dropped a new, ultra-modern building inside the bones of a warehouse that is on the historic register," said General Manager Al Hunter. "This concept preserves the history of Dallas and showcases all the Aloft brand's modern amenities."

Aloft Dallas Downtown is pursuing LEED certification – an internationally recognized, third-party certification for the design, construction and operation of high-performance green buildings established by the U.S. Green Building Council (USGBC). The hotel features natural materials like cork and sustainable wood veneers, and in-shower product dispensers replace non-biodegradable bottles to reduce landfill waste. In addition, nearly 75 percent of the demolition debris was re-used below ground in the lower-level meeting and ballroom spaces.

Ideally located at 1033 Young Street, Aloft Dallas Downtown is just steps from City Hall and the Dallas Convention Center. Also nearby are the American Airlines Center, the Arts District and the corporate offices of AT&T, Deloitte & Touche and PricewaterhouseCoopers.

About Aloft Hotels

Created to shake up the traditional select service segment of the hotel industry, Aloft delivers urban-influenced, open and vibrant design and a social guest experience at an affordable price point. In the same way that W Hotels broke through the clutter of conformity in the upscale hotel arena a decade ago, Aloft is shaking up the industry for the next generation of traveler. Aloft hotels are geared toward savvy, design-conscious consumers who grew up with the democratization of design. Aloft hotels are wired for the future and an aggressive growth plan is in place with properties set to open from Atlanta to Abu Dhabi and everywhere in between.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 960 properties in 97 countries and 145,000 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 Aloft®, 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.

About Sava Holdings Ltd.

Sava Holdings Ltd. is a venture investment company with various projects in Texas, Florida and Indiana. The main focus of the company is diversity in investment to include acquisition, development and management of real estate, business ventures in the manufacturing, retail and service fields.

About Hamilton Properties Corporation

Hamilton Properties is a design oriented developer that specializes in converting vacant buildings into hip, urban destinations. Its Dallas developments have a value of over $250 million and have breathed life into a once dying but now resurgent downtown.

Source: Starwood Hotels & Resorts Worldwide, Inc.



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