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WHITE PLAINS, N.Y. (Jan. 13, 2005) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced that it has completed the sale of the Sheraton Denver Tech Center Hotel to Clinton Street Investments, LLC an affiliate of The Hotel Group Opportunity Fund II, LLC based in Edmonds, Washington for $11.5 million. The 263-room Sheraton Denver Tech Center Hotel located in Engelwood, Colorado will remain in Sheraton's portfolio as a franchise property managed by The Hotel Group. Since 2003, Starwood has sold more than $1.1 billion worth of assets. The $11.5 million from this latest sale is part of an additional $500 million the Company intends to sell by the middle of 2005. The Company expects to use proceeds for share repurchase and for general corporate purposes. About Starwood Hotels Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 750 properties in more than 80 countries and 110,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchisor of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts.