News for the Hospitality Executive
RockBridge Capital and Davidson Hotel Company, Through
a Joint Venture,
WHITE PLAINS, N.Y.--November 2, 2010----Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that its global powerhouse Sheraton Hotels & Resorts will open a new hotel in Stamford, Connecticut in July 2011. Sheraton Stamford Hotel will offer a prime location in the heart of Stamford’s vibrant downtown, just minutes from Starwood’s new global headquarters opening in 2011.
The upcoming opening of Sheraton Stamford Hotel is part of the Sheraton brand’s strategic expansion plan that will add approximately 50 new hotels and over 20,000 rooms to the Sheraton portfolio over the next three years. Owned by a joint venture between RockBridge Capital and affiliates of Davidson Hotel Company, Sheraton Stamford Hotel will offer 379 rooms and more than 20,000 square feet of state-of-the-art meeting space. Upon conversion, the property will showcase the many new Sheraton signature brand initiatives.
“We are delighted to open a new Sheraton in Stamford’s dynamic and revitalized downtown, one of Connecticut’s leading business hubs and a regional center for arts and entertainment,” said Hoyt Harper, Senior Vice President, Sheraton Hotels & Resorts. “Sheraton Stamford Hotel will be representative of the brand’s recently completed $6 billion brand-wide revitalization, which included a $400 million investment in signature brand initiatives designed to create community and make it easy to stay connected.”
Sheraton Stamford Hotel will feature the brand’s signature “Link@Sheraton(R) experienced with Microsoft®”. Complimentary wireless broadband and computer terminals will be available in this unique lobby lounge, where today’s travelers can stay connected with instant access to information and technology for work, leisure and social networking.
“Stamford is an ideal choice for the expansion of the Sheraton brand, which continues to grow in key markets across the Unites States through both new builds and conversions,” said Paul Sacco, Senior Vice President of North America Development. “Sheraton is Starwood’s largest brand and a standout in the upper-upscale segment fueled by the success of its recent revitalization, strategic growth strategy and emphasis on community and belonging.”
“We are delighted to partner with Starwood on this conversion project, and thereby tap into the power of the Starwood network and reach an even greater number of travelers through the innovative Starwood Preferred Guest® program,” said John Belden, President and CEO, Davidson Hotel Company. “We look forward to welcoming travelers to Sheraton Stamford Hotel this coming summer, where they will enjoy spacious accommodations and all of the Sheraton brand’s signature services right in the heart of the city’s bustling downtown.”
Sheraton Stamford Hotel will be located at 700 Main Street, walking distance from the shops and restaurants in the recently opened Plaza at Stamford Town Center, the University of Connecticut Stamford campus and the headquarters of numerous major corporations and fortune 500 businesses. Guests will enjoy convenient access to several multiplex cinemas, night clubs and Stamford’s key performance venues – Rich Forum and Palace Theatre. The hotel is just 20 minutes from the Westchester County Airport Hotel and a 45-minute train ride from New York City.
Stylish and comfortable, the guest rooms and suites at Sheraton Stamford Hotel will be equipped with an oversized work desk, custom-designed ergonomic chair, high-speed Internet, LCD flat panel television, iPod home docking station and the all-white Sheraton Sweet Sleeper® bed, designed using the AAA Five Diamond Award® criteria. Hotel facilities will include full-service dining, an indoor pool and fully equipped fitness facility featuring the brand’s revolutionary new health and fitness program, Sheraton Fitness, Programmed by Core Performance, designed exclusively for Sheraton guests through its partner Core Performance.
Sheraton Hotels & Resorts, like all brands within Starwood’s robust portfolio, is proud to offer the Starwood Preferred Guest® program, which made headlines when it launched in 1999 with a breakthrough policy of no blackout dates on Free Night Awards. SPG® offers members the ability to redeem awards at more resorts, more luxury properties, more European hotels and more golf properties than any other hotel program.About RockBridge Capital
RockBridge provides capital to the hospitality industry through its RockBridge Hospitality Funds and First Mortgage Investment Program. The principals of RockBridge have formed and managed nine investment funds totaling nearly $1 billion across multiple platforms with both institutional and private investors. Focused on creating value for their hotel operating partners, RockBridge invests first mortgage, mezzanine and equity capital in hotels throughout the U.S. Since 1992, RockBridge has invested in over 300 assets nationwide with aggregate transaction capitalization of nearly $5 billion. For additional information about RockBridge, visit www.rockbridgecapital.com.
About Davidson Hotel Company
Headquartered in Memphis, Tenn., Davidson Hotel Company is an award-winning, full-service hotel management company that provides management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry. The company’s portfolio encompasses 46 upscale, full-service independent and branded hotels with more than 13,000 rooms across the United States. Additional information on Davidson may be found at the company’s Web site, www.davidsonhotels.com.
About Starwood Hotels & Resorts
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1000 properties in nearly 100 countries and territories with 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, 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.) The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
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