to Manage Planned Hotel in Prague, Czech Republic
|WHITE PLAINS, N.Y. - Dec. 12, 2005 -- Starwood Hotels & Resorts
Worldwide, Inc (NYSE: HOT) newest global hotel brand Le Meridien Hotels
& Resorts, is planning to expand its presence in Central Europe following
the signing of a management agreement for a new five-star hotel in Prague,
capital city of the Czech Republic. The Le Royal Meridien Prague will be
located in an existing building currently housing a banking operation and
is situated in the old part of the town that dates back to the 11th century.
The developers are J&T Global CZ,a.s. who are based in Prague, and
the Belgian company Buelens Real Estate.
When the redevelopment of the property is completed, the hotel, which is due to open early 2009, will have a minimum of 165 rooms, including 18 suites; meeting rooms; restaurant, bar and street cafe; a fitness club and parking facilities.
Prague has been experiencing a cultural renaissance since the breakdown of the Communist regime in 1989 and is a picturesque "many-spired" city comprised of cobblestone streets, quaint and historic neighborhoods, and a diverse array of centuries-old architectural styles. The city teems with many new galleries, shops, restaurants, cafes and an eclectic mix of nightclubs and bars.
"We are thrilled to be announcing a new Le Meridien hotel in Prague - especially as this is the first hotel signing for Le Meridien since they become part of Starwood Hotels & Resorts last month," said Michael Wale, Senior Vice President Le Meridien Operations. "I am sure this newest hotel in our European portfolio will quickly establish itself as one of the premier hotels in this part of the world."
"This latest addition to the Le Meridien portfolio is an exciting and significant development for Starwood, in that it reflects our focus to grow our newest brand," said Roeland Vos, President, Starwood Hotels & Resorts Europe, Middle East & Africa. "Le Royal Meridien Prague increases Starwood's commitment to this area of Central Europe, while further expanding on the wonderful Le Meridien properties we can offer our guests around the world. We are delighted to be working with J&T Global and Belgian Buelens Real Estate on this new hotel and we hope this development is the beginning of a long term partnership with them both."
Starwood's recent acquisition of the Le Meridien brand, comprising 130 hotels and resorts around the world, provides the hotel giant with a significant presence in Europe, Africa, Middle East and Asia Pacific. The addition of Le Royal Meridien Prague marks the company's first property in the Czech Republic and its bustling capital city.
Le Meridien currently operates five hotels in Central Eastern Europe - Budapest, Warsaw, Vienna and two in Moscow. Le Meridien has a portfolio of 130 luxury and upscale hotels in 53 countries worldwide. The majority of its properties are located in the world's top cities and resorts throughout Europe, the Americas, Asia Pacific, Africa and the Middle East.
Le Meridien Hotels & Resorts, with its portfolio of 130 luxury and upscale hotels in 53 countries worldwide, is owned by Starwood Hotels & Resorts Worldwide, Inc. Le Meridien enjoys a strategic alliance with JAL-owned Nikko Hotels, providing loyal guests access to an additional 52 properties around the world. www.lemeridien.com
Starwood Hotels & Resorts
Buelens Real Estate
This press release contains forward-looking statements within the meaning of federal securities regulations.
|Also See:||Mandarin Oriental Hotel Group Will Manage a New Hotel Under Development in Prague, Czech Republic / December 2004|
|MaMaison Residences, a Subsidiary of Luxembourg-based Orco Property Group, Opens the Pachtuv Palace in Prague, Czech Republic / October 2004|