Rancho Cucamonga, California Breaks Ground
|NEW YORK & RANCHO CUCAMONGA, Calif.- January 23, 2007 - aloha!
Starwood Hotels & Resorts Worldwide, Inc.® (NYSE:HOT) and its much-anticipated
new lifestyle brand, aloft(sm) hotels, announced today the groundbreaking
of the world’s first franchised aloft hotel, aloft Rancho Cucamonga.
The hotel is owned by a joint venture between The John Buck Company (TJBC), a Chicago-based real estate firm, and Interstate Hotels & Resorts (NYSE: IHR), one of the nation’s largest independent hotel management companies. The joint venture recently announced plans to build five to ten aloft hotels over the next several years, which will be managed by Interstate under long-term management agreements. The aloft property is expected to open in the first quarter of 2008.
The 136-room aloft Rancho Cucamonga will be located at the northwest corner of 4th Avenue and Haven. aloft is the hotel component of a $60 million master-planned, mixed-use development called HavenPark, which is owned by L.A-based Hileman Co.
“Our mission with aloft is to bring style, convenience and a social environment to an otherwise tired, lonely experience,” said Ross Klein, President, W Hotels Worldwide and the aloft brand. “We look forward to bringing an affordable, fun, new way to play and stay to Rancho Cucamonga when we open our doors in 2008.”
“We are honored to make hotel history with this groundbreaking of the inaugural franchise property,” said John A. Buck, TJBC chairman and chief executive officer. “Starwood’s W Hotels has reinvented the upscale hotel category, and we believe aloft will have the same effect on the premium select-service segment.”
“Our long-standing relationship with Starwood includes operating many properties across several brands,” said Thomas F. Hewitt, Interstate’s chief executive officer. “We look forward to expanding our relationship with Starwood with the first franchised aloft and as we continue to develop additional aloft hotels.”
“We are aggressively seeking other sites for aloft hotels and are in active negotiations in prime locations across the country,” said Paul Novak, TJBC’s managing director, hospitality division, who oversees the joint-venture’s development activities.
“Development in joint ventures is another avenue for our growth strategy,” said Leslie Ng, Interstate’s chief investment officer. “We like the upside potential of the aloft brand and the excitement it will bring to the markets we enter.”
As a Vision of W® Hotels, the aloft brand is shaking up the lodging industry with urban-influenced design, accessible technology, style and a social atmosphere. aloft offers a total sensory experience, with guest lofts featuring loft-like nine-foot ceilings and oversized windows to create a bright, airy environment. The centerpiece of the loft room is an ultra-comfortable signature bed, and large, stylish bathrooms complement the guest experience with oversized walk-in showers and amenities created by bliss spa®. Each guest loft is also a combination high-tech office and entertainment center, featuring wireless Internet access and plug & play, a one-stop connectivity solution for multiple electronic gadgetry such as PDAs, cell phones, mp3 players and laptops - all linked to a large flat panel HDTV-ready television for optimal sound and viewing.
aloft stays true to W’s heritage, offering atmospheric public spaces designed to draw guests from their rooms to socialize and make friends. Guests can read the paper, work on their laptops via hotel-wide wireless Internet access, play a game of pool or grab a drink with friends at the re:mix communal lobby area and bar w xyz. The re:charge fitness center and splash, the outdoor pool, give travelers options to de-stress and re-energize; while re:fuel by aloft, a one-stop food and beverage area, offers sweet, savory and healthy food, snacks and beverages to grab & go, 24 hours a day.
The first aloft hotels are targeted to open in the first quarter 2008, with locations expected to be anytown/anywhere. For more information on aloft, please visit www.alofthotels.com.
About Starwood Hotels & Resorts Worldwide, Inc.
About The John Buck Company
About Interstate Hotels & Resorts
This press release contains forward-looking statements within the meaning of federal securities regulations.
Leila Siman, 914-640-2635
The John Buck Company:
|Also See:||The Opening of Five Hotels Will Double the Number of Rooms in Rancho Cucamonga, California / November 2005|
|Interstate Hotels & Resorts and The John Buck Company Form Joint Venture to Build Five to 10 aloft Hotels; First Two Sites Under Contract in Rancho Cucamonga, Calif., and Nashville Suburb / January 2007|