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 The Publicly Financed 1,000-room Sheraton Phoenix Downtown Hotel
Breaks Ground Next to the Expanded Phoenix Convention Center 
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WHITE PLAINS, N.Y.- March 28, 2006 -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and the City of Phoenix announce the start of construction on the new 1,000-room hotel in downtown Phoenix. Located one block from the new convention center, the Sheraton Phoenix Downtown Hotel will provide more than 80,000 square feet of flexible meeting space, making it a perfect venue for groups. The Sheraton will stand 360 feet high with 31 floors and will provide street vibrancy and connectivity with its ample views into the hotel's restaurants, lobby, and ballrooms. The publicly financed hotel is scheduled to open in late 2008 and will be managed as a Sheraton, Starwood's most global hotel brand. The $350 million dollar project is considered vital to the $600 million dollar expansion project of the Phoenix Convention Center.

"This new hotel is a perfect addition to Sheraton's impressive global portfolio of large convention and meetings hotels," said Joe Gelchion, senior vice president of Sheraton Hotels & Resorts Worldwide. "We are eager to offer a warm Sheraton welcome to those traveling to the great city of Phoenix and also look forward to complementing Starwood's strong presence of destination resorts in the state of Arizona."

"We are defining the future of Phoenix for decades and generations to come," said Phoenix Mayor Phil Gordon. "Breaking ground on this new Sheraton, tripling the size of our convention center, implementing a light rail system, bringing 15,000 college students into the heart of Phoenix and everything else we're doing is turning heads in both hemispheres. I always say that Phoenix is on the rise. Today, so is our downtown Sheraton."

The exterior colors of the hotel will include red and gold hues signifying the connection to the desert landscape as well as beautifully sculpted shading louvers on the south face of the building. Guest rooms will be furnished in Sheraton's own chic "Riverside" design featuring a color palette of warm, rich creamy tones and textures, subdued Damask patterns mixed with faded florals and highly polished honey-colored woods. All guest rooms will feature Sheraton's signature Sweet Sleeper(sm) Bed, an expansive 14-square-foot work area; wireless Internet and 32-inch LCD TV's. Other guest services will include the Sheraton Club Level with upgraded room amenities and an exclusive Club Lounge.

The hotel will boast a 15,000-square-foot ballroom, and a nearly 30,000-square-foot senior ballroom. Also included will be an additional 28 meeting rooms for a total of 80,000 square feet of meeting space.

Additional guest services include an outdoor pool and meeting area, a street-level restaurant featuring al-fresco dining, a 6,500-square foot fitness center and spa, as well as an outdoor patio deck running the length of the building, shaded by date palm trees.

Starwood's portfolio of hotels in the Phoenix area includes the famed Phoenician resort, the Sheraton Wild Horse Pass, The Wigwam Golf Resort and Spa, The Sheraton Crescent and The Westin Kierland Resort and Spa in addition to The Westin Kierland Villas, which opened in June 2004, a Starwood Vacation Ownership product. Plans are also underway to develop W Phoenix Hotel & Residences in Downtown which will have 175 rooms and W Scottsdale Hotel & Residences with 225 rooms. Once the Sheraton and W's are complete, Starwood will have more than 4,900 guest rooms in greater Phoenix.

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 Meridien® and the recently announced Aloft(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.

This press release contains forward-looking statements within the meaning of federal securities regulations. 

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Contact:
 
Starwood Hotels & Resorts Worldwide, Inc.
Ellen Gallo, 914-640-8167
ellen.gallo@starwoodhotels.com
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Also See: The 1,000-room Sheraton Planned for Downtown Phoenix Now Fully Funded, Bonds for the Project Sold at a Blended Rate of 5.28% / December 2005
Suns Legacy Hotel Investors, L.P. Selects Starwood to Operate a W Hotel and W Residences Being Built Adjacent to America West Arena in Downtown Phoenix / September 2005

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