Four Points by Sheraton to Debut in Peoria, Illinois

Four Points by Sheraton Downtown Peoria Opens in Summer 2011 in the Heart of Downtown, Near University, Shopping and Dining

WHITE PLAINS, N.Y., Apr 26, 2011 (BUSINESS WIRE) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to introduce its fast-growing Four Points brand to Peoria, Illinois. Four Points by Sheraton Downtown Peoria opens in July of 2011 near leading businesses and Peoria's recently revitalized RiverFront. Owned by SPE LO Holdings, LLC, an affiliate of Textron Financial Corporation, the hotel will feature 319 comfortable and stylish guest rooms, market-leading meeting facilities, a full-service restaurant, indoor pool, and other amenities that have made Four Points a favorite with travelers worldwide.

Extensive renovations to all guest rooms and public areas, and smart enhancements throughout the property will completely overhaul the former Holiday Inn in preparation for its new start as a Four Points. Four Points by Sheraton Downtown Peoria will be the brand's fifth hotel in Illinois.

"The bustling city of Peoria is ideal for the expansion of our Four Points by Sheraton brand," 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 Peoria will appreciate having a fresh new option."

Located at 500 Hamilton Boulevard, Four Points by Sheraton Downtown Peoria is just minutes from Peoria Regional Airport, Peoria Civic Center, Bradley University and the shops, restaurants and entertainment at Peoria RiverFront. The hotel also offers easy access to Caterpillar Inc. world headquarters, OSF Saint Francis Medical Center and Methodist Medical Center.

Four Points by Sheraton Downtown Peoria will offer all-day dining at Bennigan's Grill, and more than 19,000 square feet of state-of-the-art conference space for meetings, weddings, and social functions of all sizes. Other amenities include an indoor pool and sauna, 24-hour fitness center and business center.

"The recent enhancements to the brand have led a growing number of owners and developers to reposition their properties as a Four Points," said Paul Sacco, Senior Vice President of North American Development, for Starwood. "Four Points 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."

Four Points opened its 150th hotel in 2010, solidifying its place as Starwood's third largest brand with the second-biggest global pipeline. At Four Points, guests travel the way they like with genuine service and modern style. Always an honest value, Four Points has great amenities like free bottled water, free Wi-Fi in public spaces, and free internet access in all guestrooms. A delicious breakfast with great coffee and refreshing, local beer with Best BrewsSM help guests to start and end the day right. Four Points gives travelers everything they need to be comfortable and productive on the road.

About SPE LO Holdings

Four Points by Sheraton Downtown Peoria is owned by SPE LO Holdings, LLC, an affiliate of Textron Financial Corporation.

About Four Points by Sheraton

Great Hotels. Great Rates: With 158 Four Points hotels in 26 countries and territories, travelers can find a great stay with modern style, genuine service and timeless comfort they're looking for, 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. To learn more, visit www.fourpoints.com

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. The company boasts one of the industry's leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. 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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