Four Points by Sheraton to Expand in Indiana

Four Points by Sheraton West Lafayette Hotel To Open Spring 2011 near Purdue U., Purdue Research Park

WHITE PLAINS, N.Y., Jan 20, 2011 (BUSINESS WIRE) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to introduce its fast-growing Four Points brand to Indiana's West Lafayette metro area. Four Points by Sheraton West Lafayette, adjacent to Purdue Research Park and just one mile from Purdue University, is scheduled to open in late spring 2011.

With extensive renovations to guest rooms and public areas, and smart enhancements throughout the property, the former University Plaza Hotel has undergone a complete overhaul in preparation for its new start as a Four Points. Owned by an affiliate of White Plains, NY-based True North Management Group, and managed by Hostmark Hospitality Group, Four Points by Sheraton West Lafayette will offer 171 comfortable and stylish guest rooms and suites, market-leading meeting facilities, two restaurants, indoor and outdoor swimming pools, and other amenities that have made Four Points a favorite with travelers worldwide.

The hotel will be the second Four Points property in Indiana, joining Four Points by Sheraton Indianapolis Carmel. "The bustling university town of West Lafayette, with its rich culture and active sports scene, makes an ideal location for our second Four Points property in Indiana," said Brian McGuinness, Senior Vice President, Specialty Select Brands for Starwood. "Guests around the world love the Four Points promise of great hotels and great rates. We think travelers to West Lafayette will appreciate having a fresh new option."

Four Points "simple pleasures" philosophy has made the brand a massive hit with travelers everywhere by giving guests what they need to be comfortable and productive, plus extras they love. With every day amenities like free bottled water in every room, free Wi-Fi in public spaces, and free internet access in all guestrooms in North America, Four Points is always a great value. Four Points opened its 150th hotel in 2010, solidifying its place as the third-largest brand with the second-biggest global pipeline in Starwood.

"The recent enhancements to the brand have led a growing number of owners and developers to re-flag their properties as a Four Points," said Paul Sacco, Senior Vice President of North American Development, Starwood Hotels & Resorts Worldwide, Inc. "The brand offers a compelling blend of comfort, style and affordability, plus it's backed by the power of Starwood through the award-winning Starwood Preferred Guest program."

Located at 3001 Northwestern Avenue, Four Points by Sheraton West Lafayette anchors an important growth area for West Lafayette and Purdue. The adjacent 725-acre Purdue Research Park employs over 3,000 people and includes 162 businesses that make up Indiana's largest cluster of technology-based businesses. The hotel is just minutes from Purdue University and convenient to theaters, shops and restaurants in West Lafayette and Lafayette. Directly behind the property is the 185-acre Celery Bog and Lilly Nature Center, a popular jogging and recreation spot. Also nearby is Ross-Ade Stadium, home of the Big Ten Purdue Boilermakers football team, and several championship golf courses, including Coyote Crossing.

The new Four Points hotel in West Lafayette will offer all-day dining at its Tailgate Grille & Bar restaurant, featuring a menu of modern American fare. The hotel's 13,000 square feet of state-of-the-art conference space is ideal for meetings, weddings, and social functions of all sizes. Amenities will also include indoor and outdoor pools, a 24-hour fitness center, and a business center.

More than a hundred Four Points properties in North America now feature a local craft brew specially selected by a team at each individual property. The program is the first local craft-beer initiative by a national hotel brand. At Four Points by Sheraton West Lafayette, guests will enjoy a selection of beers from Peoples Microbrewery located in Lafayette.

About True North Management Group

True North is a private equity real estate investment firm headquartered in White Plains, NY. Founded in 2004 by Richard Gunthel and Paul Turovsky, True North is the continuation of an investment program established by the founding principals at Deutsche Bank ("DB") and its predecessor, Bankers Trust Company ("BT"), where they developed one of the largest and most highly regarded real estate investment banking and investment management businesses. True North continues to actively seek new debt and equity investment opportunities and currently oversees a diversified portfolio of investments across multiple real estate sectors including office, retail/entertainment, hospitality, and multifamily.

About Hostmark Hospitality Group

Hostmark Hospitality Group is a leading hospitality management firm operating upscale full service hotels, resorts, focused service hotels and restaurants worldwide. Headquartered in Schaumburg, Illinois, with regional offices in Denver, Colorado, and Cairo, Egypt, Hostmark Hospitality Group is an award-winning hotel operator. Under consistent leadership spanning more than four decades, Hostmark Hospitality Group operates independent boutique hotels as well as other luxury resorts, and concept restaurants. Hostmark Hospitality Group has a proven longstanding reputation for delivering superior results through forward focused ingenuity and exceptional asset management. www.hostmark.com

About Four Points by Sheraton

Great Hotels. Great Rates: With 158 Four Points by Sheraton hotels in 27 countries, travelers can find the modern style and timeless comfort they're looking for with genuine service and great rates, all around the world from Santiago to Shanghai and Milan to Milwaukee, Four Points hotels can be found in big urban centers, by the airport, near the beach, and in the suburbs. A recent $1 billion invested in renovations, conversions, and new-build hotels has made the brand stronger than ever.

Four Points by Sheraton, like all brands within Starwood's portfolio, is proud to offer the Starwood Preferred Guest(R) program, which offers a breakthrough policy of no blackout dates on Free Night Awards. To learn more, visit www.spg.com.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1025 properties in 100 countries and territories with 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(R), The Luxury Collection(R), W(R), Westin(R), Le Méridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched Aloft(R), 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.

SOURCE: Starwood Hotels & Resorts Worldwide, Inc.

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