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Westin Philippine Plaza Plan to Discontinue the Westin Affiliation |
 November
14, 2005 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) and
Philippine Plaza Holdings, Incorporated announce that the management agreement
of The Westin Philippine Plaza will cease on December 31, 2005.
The hotel is owned by Philippine Plaza Holdings Incorporated and has been
managed under the Westin brand since 1976.
Philippine Plaza Holdings Incorporated and Starwood/Westin have enjoyed a 29 year long, cordial relationship. Upon reaching the contract renewal date, both companies discussed and re-evaluated their strategies for the future and mutually agreed to discontinue the management of the hotel under the Westin brand. The 645-room hotel was the first Westin hotel to be introduced into Asia Pacific. The Westin Philippine Plaza is Manila's only business and convention hotel in a resort setting. The hotel is located on the historic Manila Bay and situated within the country's biggest convention complex. |
| Contact:
Hwee Peng
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