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Hilton Key West Resort & Marina to be Renovated and Rebranded by
Owner Ocean Properties Ltd. to a Westin Franchise
WHITE PLAINS, NY - July 24, 2006 -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and Ocean Properties, Ltd. Hotels & Resorts announce plans to reflag the Hilton Key West Resort & Marina to The Westin Key West Resort & Marina. The hotel will fly the Westin flag beginning July 31, 2006, and during the next two years will undergo a multi-million dollar extensive renovation to meet the upper-upscale standards of the Westin brand. In addition to the 178 guestrooms and suites of the hotel, the conversion will also include the Sunset Key Guest Cottages a Westin Resort, with 37 luxurious residential-style accommodations exclusively situated on a private island just 500 yards off-shore. Ocean Properties Ltd. owns and manages the property and the resort will be franchised as a Westin under a long-term license agreement. 

"We're thrilled to be part of this highly-regarded resort in such an ideal setting," said Sue Brush, senior vice president, Westin Hotels & Resorts. "The Westin focus on quality and innovation combined with an extensive renovation of all guestrooms, meeting space and public spaces will enhance the resort even further and provide a truly memorable experience for our guests." 

"We are excited to welcome Westin to our collection of outstanding hotels and to Key West," said Tom McMurrain, vice president for Ocean Properties. "The Westin brand certainly carries with it a reputation for superior quality and service, and we look forward to setting new standards for the destination with this change. The properties have a loyal guest base and we are very excited to unveil the new product to this discriminating clientele, as well as welcoming new travelers through the Starwood network and Starwood Preferred Guest." 

Located on the waterfront and one walking block from fabled Duval Street and Mallory Square, The Westin Key West Resort & Marina is one of the Conch Republic's top destination resorts. The hotel offers deluxe guestrooms and suites, more than 16,000 square feet of indoor and outdoor function space, multiple dining options, heated pool and a full-service, 36-slip marina with a complete range of watersports. In addition, the resort operates one of the country's largest private ports, welcoming cruise ships to the destination daily. 

Situated on a private island just offshore of the main hotel and accessible only by boat, Sunset Key Guest Cottages features elegantly appointed one, two and three-bedroom cottages all with an equipped kitchen, living and dining areas and are designed in traditional Key West architecture. Acclaimed annually by Travel & Leisure and Conde Nast Traveler magazines as one of the country's top resorts, Sunset Key offers superior amenities and services such as a secluded beach, unique tropical pool, restaurant, tennis courts, grocery shopping service and personal chef service and the convenience of 24-hour launch transportation to Key West. 

With corporate headquarters in Delray Beach, Florida; Portsmouth, New Hampshire; and Montreal and Toronto, Canada; Ocean Properties Ltd. Hotels & Resorts is one of the country's largest privately-owned franchisers of hotels and resorts. The company currently owns and operates properties throughout North America including franchised hotels such as: Marriott, Westin, Hilton, AmeriSuites, Courtyard by Marriott, Residence Inn by Marriott, Springhill Suites by Marriott, Days Inn, Fairfield Inn by Marriott, Sheraton, Holiday Inn, Holiday Inn Express, and Ramada. 

Ocean Properties Ltd.
Also See: Key West Considers Moratorium Prohibiting Hotel to Condominium Conversion Projects; Need to Study Effects on Character of the Island / November 2004
Atlific Hotels & Resorts Opens the 236-room Victoria Marriott Inner Harbour / April 2004

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