STAMFORD, Conn.
- March 18, 2013--Starwood Hotels & Resorts Worldwide,
Inc.® (NYSE:HOT) today announced that its leading-edge Aloft brand
has debuted in Cupertino, California. Aloft Cupertino is the brand’s
third hotel in California and its first in Silicon Valley, reflecting
the rising demand for Aloft in vibrant markets worldwide. Owned by
Shashi Corporation and managed by Azul Hospitality Group, Aloft
Cupertino offers 123 spacious, loft-like rooms, forward-thinking
technology and a vibrant, social atmosphere.
“We are thrilled to bring Aloft to Cupertino where we expect it will emerge as a favorite with savvy travelers and area professionals in a community that buzzes with excitement, innovation and thought leadership,” said Brian McGuinness, Senior Vice President, Specialty Select Brands for Starwood.
Located in the heart of Cupertino’s business district, Aloft Cupertino is adjacent to the Apple campus and walking distance to the City Center. Also nearby are the offices of Hewlett Packard, Google and IBM, Santa Clara University, HP Pavilion, Winchester Mystery House, the upscale shops and eateries on Santana Row, and a selection of wineries and world-class golf courses. Hotel amenities include an indoor pool, w xyz sm bar, 24-hour fitness center and 1,350 square feet of flexible meeting space, ideal for both business meetings and social gatherings. Aloft Cupertino is also pursuing LEED certification and offers many environmentally friendly programs and design elements.
“We are thrilled to introduce the Aloft brand to Cupertino, the epicenter of global innovation,” said Dipesh Gupta, CEO of Shashi Group. “With its flair for design and dynamic social scene, Aloft Cupertino is a great match for the energy of Silicon Valley.”
We are excited to join forces with Shashi Corporation and Starwood Hotels & Resorts on this unique opportunity,” said Christopher Herthel, Executive Vice President of Somera Capital Management
Los Angeles-based Canyon Capital Realty Advisors (CCRA) provided the senior construction loan for the project, which was used to purchase the land and construct the brand new hotel.
“Canyon’s hospitality group has been active for many years, helping to facilitate complex transactions across the United States,” said CCRA Principal Jonathan Roth. “We are proud to expand our reach to Cupertino, and to lend our expertise to help make the beautiful and innovative Aloft Cupertino a reality.”
Showcasing many of the brand’s newest technologies, Aloft Cupertino is the first Aloft hotel to feature Apple TV in all its guestrooms. Guests can choose among thousands of movies and TV shows from iTunes, connect to Netflix for films, Hulu for television shows, MLB.com for sports, and much more. Apple TV’s Airplay feature will also let guests play video, show off photos, and enjoy music from any iPhone, iPad, or iPod Touch – right on their 42-inch LCD in-room TV. In the lobby, guests can access “Cool Concierge,” a tablet-based concierge program that guests can use to look up directions, phone numbers, make reservations, check their flight status and print boarding passes. Starting in March, the hotel will also offer Smart Check-In, allowing guests to bypass the front desk and go straight to their rooms using radio frequency identification (RFID) technology.
Pioneering initiatives in music, design, and technology have positioned Aloft as a must-have brand for the next generation of travelers. Aloft has reported consistently high guest satisfaction scores since launch, reflecting the success of its modern and vibrant design at an affordable price point. Aloft's social guest experience, with the buzzing re:mix lounge and w xyz bar, has also earned select hotels within the portfolio designations in TripAdvisor's 2012 "Top 25 Trendiest Hotels in the US" rankings.
About Aloft Hotels
With more than 60 hotels in 10 countries, Aloft has changed the hotel landscape by offering ‘style at a steal’ everywhere from Baltimore to Beijing to Bogota to Brussels – and everywhere in between. For more information, please visit www.alofthotels.com.
Aloft, like all brands within Starwood's portfolio, is proud to offer the Starwood Preferred Guest(R) program, which offers a breakthrough policy of no blackout dates on Free Night Awards. To learn more, please visit www.spg.com.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1,134 properties in nearly 100 countries and 171,000 employees at its owned and managed properties. Starwood 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, Aloft®, and ElementSM. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.
About Shashi Group
Founded in 2004 in Silicon Valley, Shashi Corporation is a privately held real estate development and asset management firm, with a special focus on hospitality. Shashi specializes in creating long term value by penetrating high barrier to entry markets with lifestyle oriented designs and leading world-class brands.
About Azul Hospitality Group
Azul Hospitality Group, a Preferred Management Company for the Aloft brand, has a robust infrastructure of industry professionals with extensive experience in all aspects of hotel management and development services. The company’s primary focus is on upscale hotels and resorts, with unique destination and product attributes, located in the western United States. Other recent projects with Starwood Hotels and Resorts include the Sheraton Carlsbad Resort & Spa in Carlsbad, California, and the Sheraton Redding at Sundial Bridge in Redding, California.
About Somera Capital Management
Somera Capital Management, LLC is a fully integrated real estate investment and portfolio management company with headquarters in Santa Barbara, California and an additional office in Washington D.C. Somera has managed approximately $600 million of total transaction equity committed to over 70 transactions throughout the United States, representing a total transaction and cost basis of approximately $2.0 billion.
About Canyon Capital Realty Advisors
Canyon Capital Realty Advisors LLC (CCRA) is the real estate direct investing arm of Canyon Partners, LLC. Canyon Partners and its affiliates, including Canyon Capital Advisors, CCRA and ICE Canyon, are investment management firms and registered investment advisors headquartered in Los Angeles, California, with approximately $20 billion in assets under management.
“We are thrilled to bring Aloft to Cupertino where we expect it will emerge as a favorite with savvy travelers and area professionals in a community that buzzes with excitement, innovation and thought leadership,” said Brian McGuinness, Senior Vice President, Specialty Select Brands for Starwood.
Located in the heart of Cupertino’s business district, Aloft Cupertino is adjacent to the Apple campus and walking distance to the City Center. Also nearby are the offices of Hewlett Packard, Google and IBM, Santa Clara University, HP Pavilion, Winchester Mystery House, the upscale shops and eateries on Santana Row, and a selection of wineries and world-class golf courses. Hotel amenities include an indoor pool, w xyz sm bar, 24-hour fitness center and 1,350 square feet of flexible meeting space, ideal for both business meetings and social gatherings. Aloft Cupertino is also pursuing LEED certification and offers many environmentally friendly programs and design elements.
“We are thrilled to introduce the Aloft brand to Cupertino, the epicenter of global innovation,” said Dipesh Gupta, CEO of Shashi Group. “With its flair for design and dynamic social scene, Aloft Cupertino is a great match for the energy of Silicon Valley.”
We are excited to join forces with Shashi Corporation and Starwood Hotels & Resorts on this unique opportunity,” said Christopher Herthel, Executive Vice President of Somera Capital Management
Los Angeles-based Canyon Capital Realty Advisors (CCRA) provided the senior construction loan for the project, which was used to purchase the land and construct the brand new hotel.
“Canyon’s hospitality group has been active for many years, helping to facilitate complex transactions across the United States,” said CCRA Principal Jonathan Roth. “We are proud to expand our reach to Cupertino, and to lend our expertise to help make the beautiful and innovative Aloft Cupertino a reality.”
Showcasing many of the brand’s newest technologies, Aloft Cupertino is the first Aloft hotel to feature Apple TV in all its guestrooms. Guests can choose among thousands of movies and TV shows from iTunes, connect to Netflix for films, Hulu for television shows, MLB.com for sports, and much more. Apple TV’s Airplay feature will also let guests play video, show off photos, and enjoy music from any iPhone, iPad, or iPod Touch – right on their 42-inch LCD in-room TV. In the lobby, guests can access “Cool Concierge,” a tablet-based concierge program that guests can use to look up directions, phone numbers, make reservations, check their flight status and print boarding passes. Starting in March, the hotel will also offer Smart Check-In, allowing guests to bypass the front desk and go straight to their rooms using radio frequency identification (RFID) technology.
Pioneering initiatives in music, design, and technology have positioned Aloft as a must-have brand for the next generation of travelers. Aloft has reported consistently high guest satisfaction scores since launch, reflecting the success of its modern and vibrant design at an affordable price point. Aloft's social guest experience, with the buzzing re:mix lounge and w xyz bar, has also earned select hotels within the portfolio designations in TripAdvisor's 2012 "Top 25 Trendiest Hotels in the US" rankings.
About Aloft Hotels
With more than 60 hotels in 10 countries, Aloft has changed the hotel landscape by offering ‘style at a steal’ everywhere from Baltimore to Beijing to Bogota to Brussels – and everywhere in between. For more information, please visit www.alofthotels.com.
Aloft, like all brands within Starwood's portfolio, is proud to offer the Starwood Preferred Guest(R) program, which offers a breakthrough policy of no blackout dates on Free Night Awards. To learn more, please visit www.spg.com.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1,134 properties in nearly 100 countries and 171,000 employees at its owned and managed properties. Starwood 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, Aloft®, and ElementSM. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.
About Shashi Group
Founded in 2004 in Silicon Valley, Shashi Corporation is a privately held real estate development and asset management firm, with a special focus on hospitality. Shashi specializes in creating long term value by penetrating high barrier to entry markets with lifestyle oriented designs and leading world-class brands.
About Azul Hospitality Group
Azul Hospitality Group, a Preferred Management Company for the Aloft brand, has a robust infrastructure of industry professionals with extensive experience in all aspects of hotel management and development services. The company’s primary focus is on upscale hotels and resorts, with unique destination and product attributes, located in the western United States. Other recent projects with Starwood Hotels and Resorts include the Sheraton Carlsbad Resort & Spa in Carlsbad, California, and the Sheraton Redding at Sundial Bridge in Redding, California.
About Somera Capital Management
Somera Capital Management, LLC is a fully integrated real estate investment and portfolio management company with headquarters in Santa Barbara, California and an additional office in Washington D.C. Somera has managed approximately $600 million of total transaction equity committed to over 70 transactions throughout the United States, representing a total transaction and cost basis of approximately $2.0 billion.
About Canyon Capital Realty Advisors
Canyon Capital Realty Advisors LLC (CCRA) is the real estate direct investing arm of Canyon Partners, LLC. Canyon Partners and its affiliates, including Canyon Capital Advisors, CCRA and ICE Canyon, are investment management firms and registered investment advisors headquartered in Los Angeles, California, with approximately $20 billion in assets under management.