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Istithmar Hotels FZE and Golden Land Property Development PLC
Developing 400 room W Hotel in Bangkok
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Starwoods Second W Branded Property in Thailand
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NEW YORK - October 16, 2007 - Rapidly expanding its reach in the world’s most alluring destinations, W Hotels today announced plans to open its second hotel in Thailand with the new W Bangkok. The newly constructed, 400-room hotel will debut in 2011 as part of a luxurious, mixed-use development at the core of the city’s commercial and diplomatic center. Owned by North Sathorn Hotel Company, a joint venture between Istithmar Hotels FZE and Golden Land Property Development PLC, W Bangkok will combine innovative, contemporary design and W’s signature services to create a transformative experience for modern travelers visiting Bangkok, one of Asia Pacific’s most captivating cities. 

Gleaming skyscrapers and glittering discotheques stand alongside gilded temples and night markets in this energetic capital city, known to natives as the City of Angels. Within walking distance to more than 20 embassies and commercial centers, W Bangkok will be ideally located in the prime business district of Sathorn, an area with a high concentration of luxury hotels. W Bangkok will be an integral part of the Golden Land’s “Sathorn Square,” a mixed-use project that also includes a 750,000 square foot premium office tower and a variety of retail shops, centered on the historic landmark Russian Embassy complex. Not far from the hotel, guests can indulge the senses at Siam-Ratchadamri, one of the biggest shopping and entertainment districts in Bangkok, marvel at the opulent architecture of the Grand Palace and view a spectacular array of historic artifacts at the National Museum. W Bangkok will also be the only hotel in the Sathorn area to have direct access to the Bangkok Sky Train (“BTS”) station, making it easy for visitors to zip around this colorful, eclectic city. 

"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. “Set against the magnificent backdrop of Thailand's thriving cosmopolitan metropolis, W Bangkok will reflect the excitement, energy and sophistication of its surroundings. From Bangkok to Buckhead, South Beach to St. Petersburg, W is going global as the influential and innovative lifestyle authority." 

W Bangkok will draw both hotel guests and local insiders to its signature restaurant and stylish bar. The new hotel will also meet the needs of Bangkok’s bustling business district, offering 30,000 square feet of meeting space. Additional facilities will include a W Kitchen, W Living Room, a Sweat Fitness Center, an outdoor pool and a signature spa. Rooms will include the supremely comfortable W bed, complete with a feather-top mattress, 350 thread-count Egyptian cotton sheets and goose-down comforter. The hotel will also feature W’s exclusive Whatever/Whenever concierge service, the hotel’s 24-hour service commitment that can provide whatever guests want -- from a pair of running shoes to private jet service -- whenever they want it. 

“Following the announcement of W Retreat & Residences-Koh Samui, W Bangkok is a logical extension of W’s dynamic growth in Thailand,” said Miguel Ko, President of Starwood Hotels & Resorts, Asia Pacific. “Bangkok is a perfect fit for W hotels, appealing to the brand’s sophisticated travelers with a delectable mix of diverse cultures, world-class shopping and an unsurpassed epicurean experience.” 

“W Bangkok will occupy a prime site in the heart of the city and thus deserves a world-class brand to operate the hotel. W is that brand and we are delighted to have reached an agreement with Starwood. The W Bangkok is our second W Hotels property in Thailand and I believe it will complement ideally our first project, the W Retreat & Residences in Koh Sumai, which is also currently under development,” said Joe Sita, chief executive of Istithmar Hotels. 

“South East Asia is a strategically important region for Istithmar Hotels, and Bangkok is one of our key target markets. We continue to look for projects that offer us the right balance between risk and rewards as we expand operations across the globe,” added Sita. 
As the capital city of Thailand and its most important and popular tourist destination, Bangkok welcomes more than 90% of the total inbound visitors to Thailand and serves as a major gateway to Asia Pacific. The recent opening of the new Suvarnabhumi International Airport and the addition of several new convention centers signifies the continued growth of Bangkok’s tourism industry as well as its position as an important economic hub for the region. 

W Bangkok is the latest addition to the brand's fast-growing international collection of hotels in the world's most vibrant cities and emerging destinations. W, the fastest growing luxury hotel brand in the world, has recently announced plans to open hotels in Barcelona, Istanbul, Athens, Hong Kong, Shanghai, Koh Samui, Santiago, Dubai, Doha and Macau. These properties will follow the highly successful openings of the W Retreat & Spa-Maldives, W Montreal, and W Mexico City. 

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 Residences, offering the W lifestyle at home, have been announced for Scottsdale (2008), Midtown Atlanta (2008), Fort Lauderdale (2008), Buckhead (2008), Hoboken (2008), San Juan (2008), Downtown Atlanta (2009), Downtown New York (2009), South Beach (2009), Hollywood (2009), Philadelphia (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), and Dubai-The Palm (2010). 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 (2008), and Verbier (2010), the latter of which will serve as W’s first ski retreat. For more information, visit www.whotels.com. 
About Starwood Hotels & Resorts Worldwide, Inc. 

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) is one of the leading hotel and leisure companies in the world with approximately 890 properties in more than 100 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®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft(SM), and Element(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. 

(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.) 

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Contact:

Starwood Hotels & Resorts Worldwide, Inc.
Hwee Peng Yeo, (65) 6335 4837
Director, Corporate Communications, Asia Pacific
hweepeng.yeo@starwoodhotels.com
or
Dianne Dillingham, 212-380-4078
PR Manager, Luxury Brands Group
dianne.dillingham@starwoodhotels.com 
 

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Also See: PT Dua Cahaya Anugrah Building a 232 room W Retreat & Spa on the Isle of Bali in the Seminyak Area / August 2007
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