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Led by Developer Ralph Burnet, the 229 room W Minneapolis – The Foshay
Scheduled for late 2008 Opening
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NEW YORK - December 12, 2007 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that it will open a W Hotel in Minneapolis, Minn. in the legendary Foshay Tower, one of the country’s most inspiring and iconic art deco buildings. Soaring 447 feet into the air, W Minneapolis–The Foshay will feature 229 luxury guest rooms, including 18 suites, and will provide travelers with spectacular city views, expansive meeting space, a world-class signature restaurant and a destination bar. 

Owned by Foshay Hotel LLC, W Minneapolis–The Foshay will be centrally located in downtown Minneapolis, a city celebrated for its thriving theater district, independent music offerings and cutting-edge art scene. The hotel’s opening is scheduled for late 2008. Foshay Hotel LLC is a group of private Twin Cities-based investors led by real estate entrepreneur, Ralph Burnet. Burnet also owns Chambers, an award-winning luxury art hotel also located in downtown Minneapolis. 

“Like so many of us who grew up here I remember visiting the Foshay as a kid and going up to the Observation Deck to view the city, “ said Ralph Burnet, general partner, Foshay Hotel LLC. “To marry the Foshay with the W brand is incredibly satisfying. The W is the most hip hotel chain in the world. It’s going to give the Foshay renewed life and energy and once again make it a Twin Cities destination landmark.” 

“W continues to extend beyond the boundaries of everyday travel, offering a magical mix of sexy destinations and sublime design,” said Ross Klein, President of Starwood’s Luxury Brands Group. “W Minneapolis-The Foshay will offer an enticing blend of warmth, wit and whimsy in one of the world's most vibrant destinations. From Minneapolis to Milan, Hoboken to Hong Kong, W Hotels is going global as the influential and innovative lifestyle authority.” 

W Minneapolis–The Foshay will feature sweeping city views, a world-class signature restaurant, destination bar, skybar lounge, and fitness center, and W Living Room experience where guests can gather to eat, drink and mingle. The hotel will also feature 7,000 square feet of deluxe meeting space, wired to meet the needs of the surrounding business community. The sleek accommodations at W Minneapolis–The Foshay will all be outfitted with state-of-the-art technology and superior amenities including the signature W bed, outfitted with feather-top mattresses, 350 thread-count Egyptian cotton sheets and goose-down comforters. Guests staying at W Minneapolis–The Foshay will also have access to the W brand’s exclusive Whatever/Whenever service, the hotel’s 24-hour concierge that can provide whatever guests want -- from a pair of running shoes to private jet service -- whenever they want it. 

W Minneapolis–The Foshay will be located in the heart of downtown Minneapolis, an area with a high concentration of luxury hotels, entertainment venues and financial institutions. Hotel guests will be connected via the Minneapolis Skyway System to Nicollet Mall, known for its world-class shopping and dining offerings, and Hennepin Avenue, the city’s hotspot for theater and entertainment. In addition to its diversity of live music performances and music festivals, Minneapolis boasts one of the most dynamic museum communities in the country with an impressive collection of premier institutions including the Minneapolis Institute of Arts and the Walker Art Center, the focal point for the city’s contemporary art scene. 

Serving up an enticing blend of historical chic and contemporary culture, W Minneapolis–The Foshay will mark a new chapter in the history of the Foshay Tower, a prime example of art deco design and one of the most prominent obelisk-shaped skyscrapers in the world. Modeled after the Washington Monument, this symbol of American prosperity was built by multi-millionaire, real estate developer Wilbur B. Foshay in 1929 and was instantly heralded as a masterpiece. W Minneapolis–The Foshay will preserve many of the building’s original, opulent design touches including Italian marble, terrazzo floors, ornamental bronze and a massive, gold and silver-plated lobby ceiling. The hotel will also offer magnificent city views from the Observation Deck on the 31st floor. 

Foshay Hotel LLC 
Foshay Hotel, LLC, is a group of private Twin Cities-based investors led by real estate entrepreneur, Ralph Burnet. Burnet also owns Chambers, an award-winning luxury art hotel also located in downtown Minneapolis. 
About W Hotels Worldwide 
W Hotels is a global lifestyle brand with 21 properties in the most vibrant cities around the world. Inspiring and indulging its guests with thoughtful, refreshing and stylish experiences, signature restaurants, bars and destination spas, W has become the fastest growing luxury hotel brand in the world. Each hotel offers a unique mix of innovative design, comfort, and cultural influences from fashion to music to art and everything in between. W’s first residential property, W Dallas-Victory, opened in June of 2006, and soon thereafter was named a Forbes Magazine “Top Business Hotel.” W Hotels have been announced in Scottsdale (2008), Midtown Atlanta (2008), Fort Lauderdale (2008), Buckhead (2008), Hoboken (2008), Downtown Atlanta (2008), San Juan (2008), Downtown New York (2009), South Beach (2009), Hollywood (2009), Philadelphia (2009), Washington, D.C. (2009) and Austin (2010). Internationally, W has announced plans for hotels in Istanbul (2008), Doha (2008), Hong Kong (2008), St. Petersburg (2008), Santiago (2008), Athens (2009), Milan (2009), Dubai-Festival City (2009), Shanghai (2009), Barcelona (2009), Macao-Studio City (2010), Guangzhou (2010), Dubai-The Palm (2010), Yokohama (2011) and Bangkok (2011). W’s first Retreat & Spa, W Maldives, opened in September of 2006 and in March of 2007, received the prestigious Travel + Leisure Design Award for Best Resort. W has plans to open Retreat & Spa hotels in Vieques (2008), Koh Samui (2009), Bali (2009) and Verbier (2010), the latter of which will serve as W’s first ski retreat. For more information, visit www.whotels.com. 

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

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Contact:

Starwood Hotel’s Luxury Brands Group
Dianne Dillingham, 212-380-4078
dianne.dillingham@starwoodhotels.com
 

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Also See: Developer Ralph Burnet Investing up to $50 million to Convert Minneapolis's Foshay Tower in to a 229 room W Hotel / November 2006
Hotel Consultant Paul Wischermann Plays Point Man for Recent Surge of Starwood Branded Projects in Minneapolis / June 2007
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