WHITE PLAINS, N.Y., Apr 07, 2011 -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to bring its fast-growing Four Points brand to the epicenter of New York City's bustling downtown financial district. Four Points by Sheraton Financial District is scheduled to open in the summer of 2013, just four blocks from Wall Street. The newly constructed hotel is the eighth Starwood property developed by the Lam Group and will offer 264 comfortable and stylish guest rooms and suites, plus all the amenities guests need to travel the way they like for a great price.

"The Financial District continues to evolve into one of New York City's most exciting areas, and we're delighted that Four Points will play a part in that growth," said Brian McGuinness, Senior Vice President, Specialty Select Brands for Starwood. "Four Points' positioning around value, comfort, and convenience has become a huge hit with guests worldwide, and we're looking forward to giving business and leisure travelers in New York City an affordable yet stylish option in an ideal location."

Located at 6 Platt Street, Four Points by Sheraton Financial District will be just a short stroll from the South Street Seaport, New York Stock Exchange, the American Stock Exchange, the World Financial Center and City Hall. Also nearby are Battery Park, Little Italy, Tribeca and the Statue of Liberty. A short subway ride will whisk travelers to the Times Square Broadway Theater District, Midtown, Greenwich Village, SoHo and Brooklyn. Four Points by Sheraton Financial District will join the Four Points in Times Square, SoHo and Chelsea.

"The upcoming opening of our fourth Four Points hotel in New York City demonstrates that the brand's blend of comfort, style and affordability is resonating with travelers in key urban centers," said Paul Sacco, Senior Vice President of North American Development for Starwood. "The recent enhancements to the brand have also resulted in a surge of interest among owners and developers, who are eager to become part of the powerful Starwood network, including the award-winning Starwood Preferred Guest program."

Four Points opened its 150th hotel in 2010, solidifying its place as Starwood's third largest brand with the second-biggest global pipeline. At Four Points, guests travel the way they like with genuine service and modern style. Four Points is always an honest value, with great amenities like free bottled water, free Wi-Fi in public spaces, and free internet access in all guestrooms. A delicious breakfast with great coffee - and refreshing, local beer with Best BrewsSM - offer guests the chance to start and end the day right. Four Points gives travelers everything they need to be comfortable and productive on the road.

At Four Points by Sheraton Financial District, guests will enjoy all-day dining in an upscale restaurant with an outdoor terrace. After a day of sightseeing or business meetings, guests can relax with a craft beer or cocktail, while enjoying spectacular city views from the city's sleek, rooftop lounge.

The hotel's 2,000 square feet of state-of-the-art conference space will accommodate small to mid-size meetings and social functions. Additional amenities will include a 24-hour fitness center and business center.

About The Lam Group
The Lam Group is one of the leading and innovative hotel developer and operator in New York City. The Lam Group is a privately held real estate investment company which specializes in the development of hotels in New York City. The Lam Group has developed over 20 hotels in New York in the past decade and currently owns and operates 10 hotels. In addition to hotels, the Lam Group portfolio consists of residential and commercial properties. For more information, please visit: www.lamgroupnyc.com

About Four Points by Sheraton
Great Hotels. Great Rates: With 157 Four Points hotels in 26 countries and territories, travelers can find a great stay with modern style, genuine service and timeless comfort they're looking for, all around the world. From Santiago to Shanghai and Milan to Milwaukee, Four Points hotels can be found in big urban centers, by the airport, near the beach, and in the suburbs. A recent $1 billion invested in renovations, conversions, and new-build hotels has made the brand stronger than ever. www.fourpoints.com

Four Points by Sheraton, like all brands within Starwood's portfolio, is proud to offer the Starwood Preferred Guest(R) program, which offers a breakthrough policy of no blackout dates on Free Night Awards. To learn more, visit www.spg.com.

About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1025 properties in 100 countries and territories with 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Méridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched Aloft(R), and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.

SOURCE: Starwood Hotels & Resorts Worldwide, Inc.