WHITE PLAINS NY and SIOUX
FALLS SD, December 8, 2005 � Starwood Hotels & Resorts Worldwide, Inc.
(NYSE: HOT) one of the world�s leading hotel and leisure companies, and
LodgeNet Entertainment Corporation (NASDAQ: LNET), the world�s largest
provider of interactive television and broadband solutions to hotels, today
announced an agreement under which LodgeNet is Starwood�s sole preferred
provider for interactive television services for its Sheraton, Four Points
by Sheraton, W and Westin brands located in the United States, Canada,
Puerto Rico and the U.S. Virgin Islands. This portfolio of hotels currently
includes 380 properties having approximately 134,000 rooms of which LodgeNet
currently serves approximately 78,000 rooms.
The agreement embodies Starwood�s desire to transition
the four brands to a high-definition, interactive television platform that
delivers a uniform content service offering, with each brand having its
own unique look and feel. LodgeNet will install its industry-leading sigNETure
HDTV system, which will deliver high-definition broadcast, satellite and
video-on-demand programming � including high-definition video-on-demand
entertainment and still-in-theaters movies � along with extensive on-demand
and linear content sourced or produced by Starwood.
�We
chose LodgeNet because they have the most powerful and flexible platform
in the industry, they truly understand our vision of creating an emotional
connection with our guests, and most importantly, they can help us execute
on that vision today,� said Tom Conophy, Chief Technology Officer, Starwood
Hotels & Resorts. �Our brands are uniquely positioned to take
advantage of all the exciting current and upcoming developments that are
happening in the realm of digital entertainment. Additionally, our
digital content delivery system extends Starwood�s commitment to leveraging
technology to best meet the needs of our increasingly sophisticated customers.
Our research has shown that approximately 95 percent of our guests access
TV when spending time in their room and more than half of them spend between
40 minutes to two hours watching TV.�
�This decision reflects the bold vision and strategic
thinking that has brought Starwood to its current industry leading position.
We are extremely proud to extend and expand upon our very productive relationship
with Starwood, giving its hotels a clear competitive advantage,� said Scott
C. Petersen, president and CEO of LodgeNet Entertainment Corporation. �We
are introducing tools that make the ultimate guest experience possible,
delivering the broadest array of high-definition programming and expanding
on our �Make It Your Own� promise to our hotel clientele by giving Starwood
unprecedented ability to interact with their guests through the television.�
About Starwood Hotels & Resorts Worldwide,
Inc.
Starwood Hotels & Resorts Worldwide, Inc.
is one of the leading hotel and leisure companies in the world with approximately
850 properties in more than 95 countries and 145,000 employees at its owned
and managed properties. Starwood® Hotels is a fully integrated owner,
operator and franchisor of hotels and resorts with the following internationally
renowned brands: St. Regis®, The Luxury Collection®, Sheraton®,
Westin®, Four Points® by Sheraton, W®, Le Méridien®
and the recently announced AloftSM. 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.
About LodgeNet
LodgeNet Entertainment Corporation (www.lodgenet.com)
is the world�s largest provider of interactive television and broadband
solutions to hotels, including resort and casino hotels, throughout the
United States and Canada as well as select international markets. These
services include on-demand movies, music and music videos, on-demand videogames,
Internet on television, and television on-demand programming, as well as
high-speed Internet access, all designed to serve the needs of the lodging
industry and the traveling public. LodgeNet provides service to more than
one million interactive guest pay rooms and serves more than 6,000 hotel
properties worldwide. LodgeNet estimates that approximately 275 million
travelers annually have access to LodgeNet�s interactive television systems.
LodgeNet is listed on NASDAQ and trades under the symbol LNET.
Forward Looking Statement
Certain statements in this Press Release constitute
�forward-looking statements.� When used in this Press Release, the words
�expects,� �intends,� �anticipates,� �estimates,� �believes,� �no assurance�
and similar expressions and statements which are made in the future tense,
are intended to identify such forward-looking statements. Such �forward-looking
statements� within the meaning of the Securities Act of 1933, as amended,
and the Securities Exchange Act of 1934, as amended, are subject to risks,
uncertainties, and other factors that could cause our actual results, performance
or achievements to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements.
In addition to the risks and uncertainties discussed elsewhere in this
Press Release, such factors include, among others, the following: the effects
of economic conditions, including in particular the economic condition
of the lodging industry, competition, demand for our product and services,
programming availability and quality, technological developments, developmental
difficulties and delays, relationships with clients and property owners,
the availability of capital to finance growth, the impact of government
regulations, international crises, acts of terrorism, public health issues,
risks related to the security of our data systems, and other factors detailed,
from time to time, in our filings with the Securities and Exchange Commission.
These forward-looking statements speak only as of the date of this Press
Release. We expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change our expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement
is based.
LodgeNet is a registered trademark of LodgeNet
Entertainment Corporation. All rights reserved. Other names and brands
may be claimed as the property of others.
|