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 Salobre Golf Hoteles S.A Appoints Starwood to
Manage the New Sheraton Hotel and Golf Resort
On Gran Canary Island, Spain


 
WHITE PLAINS, N.Y. - June 21, 2001--  Starwood Hotels and Resorts Worldwide, Inc. (NYSE:HOT) and owners Salobre Golf Hoteles S.A. announced today that they have entered into a long term management agreement under which Starwood will operate the 310-room Sheraton Salobre Hotel and Golf Resort soon to be under construction in the Gran Canary Island, Spain. 

The hotel will be owned by Salobre Golf Hoteles, S.A., a joint venture amongst Casa Kishoo S.A., Satocan S.A. and Cerro Del Sur S.A. 

"We are delighted to be entering this resort market by signing this agreement with the Salobre Golf Hoteles shareholders,'' said Roeland Vos, President Europe, Starwood Hotels & Resorts Worldwide, Inc. "The Sheraton Salobre Hotel and Golf Resort will further augment Starwood's outstanding portfolio of hotels in Spain and the Iberian Peninsula. The excellent location and outstanding physical product planned by Salobre Golf Hoteles will greatly enhance our representation in Spain and will add another important market to our spectacular portfolio of hotels and golf around the world.'' 

Mr. Juan Miguel Sanjuan y Jover, President of Satocan S.A., said, "We are proud to have reached this agreement with Starwood. The Sheraton brand is, in our view, the strongest international brand, both in Spain and throughout Europe and the rest of the world. We strongly believe that the combination of the brand, our location, design and physical specifications will enable the Sheraton Salobre Hotel and Golf Resort to command a dominant position in the Canary Islands market as soon as the hotel is operational.'' 

Mr. Prakash Kishinchand Rajwani, who is President of Casa Kishoo, added: ``We are proud of the association with such a powerful brand and we are sure that - together our hotel and Starwood's management under the Sheraton brand will assist the Gran Canary in building the island's tourism infrastructure in the five star market''. Mr. Jose Juan Jorge Ruiz, who is President of Cerro Del Sur S.A. added: "We are sure that this project will be an outstanding success not only for us as owners and for Starwood as operators but also for the Island of Gran Canary and for the whole archipelago.'' 

The Sheraton Salobre Hotel and Golf Resort, will be located on the southern Gran Canary Island.

This exciting hotel project has been designed by the well known Architects Allen and Phillips of Scottsdale, Arizona. It will have 310 deluxe rooms and suites, 27 holes golf course, two restaurants and bars, a ballroom and three meeting rooms, underground parking, three swimming pools, tennis, beach and health club. The hotel is scheduled to open in late 2003. 

In Spain, Starwood owns and/or operates six hotels: The Westin Palace, in Madrid, the Alfonso XIII a Westin Hotel in Seville, the Maria Cristina a Westin Hotel in San Sebastian, the Mencey in Tenerife, The Westin La Quinta in Marbella and the Sheraton Santa Maria de El Paular in Rascafria. In Mallorca, the ArabellaSheraton Joint Venture manages the ArabellaSheraton Golf Hotel. In addition, the Bilbao Sheraton, in Bilbao, is under construction with the opening scheduled for late 2003. 

In Portugal, Starwood Hotel & Resorts Worldwide Inc. owns and operates the Sheraton Lisboa and operates the Sheraton Algarve on behalf of a third party owner. Also, under construction, the Sheraton Porto is scheduled to open in mid 2003. 

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 725 properties in 80 countries and 120.000 employees at its owned and managed properties. 

###

Contact:
Starwood Hotels & Resorts Worldwide, Inc., 
White Plains
Katie Meyer, 914/640-8247
[email protected]
www.starwoodhotels.com

Also See RIU Hotels Turning to Timeshare at Soon to Open Club-Hotel Gran Canaria / Feb 2000 


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