Hotel Online  Special Report

Regent Partners and Starwood Hotels Complete
Agreement for a 319-room Westin Hotel
in Old Town, Alexandria, VA
Hotel Will Include  79 Condominiums


WHITE PLAINS, N.Y. - July 18, 2005 -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) has completed an agreement with Regent Partners of Atlanta, Georgia to operate a new 319-room luxury hotel under its upper-upscale Westin brand in the Carlyle section of Old Town Alexandria, Virginia. The hotel will be the brand's first property in Alexandria, its second in Virginia and its fourth hotel in the metropolitan Washington, D.C. area.

The Westin Alexandria will be the centerpiece of a 468,895-square foot, mixed-use development project. The 15-story building will also include 79 condominiums and desirable street-level restaurant and retail space. The hotel will be located next to the new 2.5-million square foot US Patent and Trademark Office headquarters. Wells Fargo's Real Estate Group, based in Boston, arranged $118.8 million in construction loan financing to Regent Partners for this development. The building was designed by Cooper Carry architects and will be constructed by Centrex Construction Co. The hotel is designed to complement other notable and historic buildings in the area with its traditional brick exterior and is due to be completed in 2007.

"The Westin Alexandria will be a significant addition to our metropolitan D.C. area portfolio of hotels - The Westin Grand, The Westin Embassy Row and The Westin Arlington Gateway, which is scheduled to open in 2006," said Sue Brush, senior vice president, Westin Hotels & Resorts. "We're attracted to the area because of the growth of nearby business and the impressive number of law firms and trade associations. Our nation's capital is a key market for both business and leisure travel. The Westin Alexandria will enhance both Westin and Starwood's presence in this historic and vibrant travel destination."

"This will be the first ground-up full-service hotel development in this section of Alexandria in more than six years," said Reid Freeman, executive vice president of Regent Partners. "The Westin Alexandria will bring style and energy to this mixed-use project and is a natural fit for this historic part of the Washington metropolitan area."

Old Town Alexandria is a quaint historic town just on the other side of the Potomac River from Washington, D.C. Founded in 1749, Alexandria's riverfront was an important colonial port during the colonial, revolutionary and Civil War periods. Today, it is a revitalized waterfront with cobblestone streets, colonial houses and churches, museums, shops and restaurants.

The Westin Alexandria will feature 18,000 square feet of meeting space containing the largest ballroom in the Old Town, Alexandria vicinity, a signature restaurant and a fully equipped business center. Westin's signature Heavenly Bed(R) and Heavenly Bath(R) will grace every guestroom and the hotel will also offer the brand's new fully-equipped WestinWORKOUT(R) Rooms and WestinWORKOUT(R) Powered by Reebok fitness center. The 79 one, two and three-bedroom condominium units will average approximately 1,000 square feet, all offering spectacular views of Washington.

Westin Hotels & Resorts, with 121 hotels and resorts in 31 countries and territories, is owned by Starwood Hotels & Resorts Worldwide, Inc. and was ranked "Highest in Guest Satisfaction Among Upscale Hotels Chains." in the J.D. Power and Associates' 2004 North America Hotel Guest Satisfaction Study(SM) and voted Best Domestic Hotel Chain by Global Traveler Magazine. Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 750 properties in more than 80 countries and 120,000 employees at its owned and managed properties. With internationally renowned brands, Starwood(R) corporation is a fully integrated owner, operator and franchisor of hotels and resorts including: St. Regis(R), The Luxury Collection(R), Sheraton(R), Westin(R), Four Points(R) by Sheraton, and W(R), Hotels and Resorts as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. 

About Regent Partners
Established in 1983, Regent Partners is an Atlanta-based real estate development, investment and services firm. Since its inception the company has acquired and developed more than 10 million square feet valued in excess of $1 billion. Regent Partners' diverse portfolio includes hotel, residential, office, retail, mixed-use and land holdings. For more information, please visit


Starwood Hotels & Resorts Worldwide, Inc.

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