Starwood currently manages both hotels and expects to achieve efficiencies from the complexing of management. In addition, Starwood and FelCor expect to finalize a joint venture agreement for the ownership of both hotels with FelCor owning 60% and Starwood owning 40%. Starwood will continue to manage the hotels under the joint venture. 

By rebranding these hotels, Starwood can better suit the customer base of each brand," remarked Ted Darnall, Executive Vice President, Operations for Starwood Hotel Group. "Sheraton's clientele tends to be individual transient travelers, while Westin generally appeals to the corporate group market. The limited meeting space at the Sheraton Park Central makes the property better suited for the individual traveler, while The Westin Park Central, with its extensive meeting space, is ideal for Westin clientele." 

"With the Starwood acquisition of Westin Hotels Resorts and ITT Sheraton earlier this year, the company now has a strong portfolio of five individual and unique hotel brands with clearly defined customer bases. The brands include Westin, Sheraton, The Luxury Collection, Four Points Hotels and the soon-to-be-launched W brand," said Juergen Bartels, Starwood Hotel Group Chief Executive Officer. "As the company carefully analyzes its hotel portfolio in the process of integrating the companies, it can now maximize on this family of brands by aligning hotels to its brands to allow them to more clearly fit their target customer base and more strongly compete against other hotel brands in the same area," Bartels added. 

Both properties are located in North Dallas at the intersection of I-635 (LBJ Freeway) and Coit Road and are 20 minutes from downtown Dallas and Love Field Airport, 25 minutes from Dallas/Fort Worth International Airport and two miles east of the Galleria Mall. Additionally, the hotels' 
location in the heart of the Park Central business district is convenient to many corporate headquarters located in North Dallas, Plano, and the Richardson Telecom Corridor. 

The Westin Park Central 

After undergoing an extensive $14 million renovation in 1997 and early 1998, The Westin Park Central offers 545 upscale guest rooms with marble-topped surfaces, custom-made furnishings, cable television, in-room movies, hair dryer and in-room coffee maker featuring Starbucks coffee. Additional facilities and amenities include 28,000 square feet of function space, outdoor pool, state-of-the-art fitness center, same-day laundry service, valet parking, nearby jogging trail, covered parking and full business center. 

For dining pleasure, Westin guests can treat themselves to a five-star dining experience in one of the top five restaurants in Dallas, Laurels, overseen by acclaimed chef Danielle Custer who was voted one of the top 10 new chefs in America by Food Wine magazine. In The Cigar Lounge at Laurels guests can enjoy a distinct selection of cigars together with panoramic views of downtown Dallas. For a more casual dining experience, Cafe in the Park serves three meals daily, specializing in Mediterranean cuisine. Guests at The Westin Park Central also enjoy added benefits unique to Westin. Service Express(R), a "one call does it all" concept exclusive to Westin hotels and resorts allows guests to dial one number on their telephone to order room service, call for bellman or room attendant or have any other request filled. For an additional $20 per night, the hotel also offers Westin's Guest Office(R) accommodations that double as offices. Each room features an in-room multi-function laser printer/fax/copier, dual-line speaker phone with data port, Macintosh and IBM-compatible computer printer cable and surge protector, ergonomically correct desk chair, task light, complimentary newspaper and free local phone calls. 

The Westin Park Central joins the nearby Westin Galleria as Westin's second property in Dallas. Located approximately three miles apart, the hotels create a solid brand concentration in the North Dallas area. The Westin Park Central offers substantial meeting space and five-star dining, while The Westin Galleria, adjacent to the prestigious Galleria shopping center, provides a shopping extravaganza with more than 200 upscale shops and boutiques, fine restaurants and entertainment. In addition to the two hotels in Dallas, Westin currently operates The Westin Galleria and The Westin Oaks in Houston. Also, The Westin La Cantera Resort and The Westin Riverwalk in San Antonio are currently under construction, and are both scheduled to debut in 1999. 

Sheraton Park Central Hotel Dallas 

The Sheraton Park Central Hotel Dallas has just completed a $17.5 million renovation program that upgraded guest rooms, meeting facilities, exterior and public space.  Its 438 guest rooms offer a full-size desk, two modem-ready telephones with guest voice mail, full size ironing board and iron, coffee maker with complimentary coffee, hair dryer and the latest generation electronic door locks.  Every room offers free cable television, pay-per-view movies and Nintendo video games. 

Sheraton makes it easy for the executive to stay in shape while on the road with its fully equipped exercise room and new, heated outdoor pool surrounded by a lush courtyard. Jogging trails, tennis and golf are located nearby. Dining options include Delaney and Murphy Restaurant , which offers traditional American cuisine in a comfortable, casual atmosphere. Specialties include items made famous in some of America's finest chop houses as well as a full menu of lighter fare items. Guests may also relax in the Martini Bar, where they can enjoy cocktails or a favorite cigar. Banquets and special events also can be arranged and the hotel can host groups of up to 600 with its 15,000 square feet of meeting space and banquet facilities. 

Sheraton operates 13 other hotels in Texas, including both Sheraton Hotels and Four Points brands. Guests who stay at both The Westin Park Central and The Sheraton Park Central will be able to earn their way towards free travel in Starwood's new frequent guest program, due to debut in January 1999. With more than 550 participating hotels and resorts in more than 60 countries, including 100 resorts around the world, the new program not only will be the industry's most global, but also promises to be the best of the competition with a structure focused on simplicity, flexibility in redemption options and inclusion of all of Starwood's brands. Current members of the Sheraton Club International (SCI) or Westin Premier(R) frequent guest programs will continue to earn points in their respective program when staying at Westin or Sheraton hotels worldwide through the end of the year, at which time, the total balance of unexpired points in all active member accounts (both SCI and Westin Premier(R)) will be converted automatically to the new Starwood program. 

FelCor Lodging Trust Incorporated is one of the nation's largest hotel real estate investment trusts. Since its initial public offering in 1994 with six hotels and 1,479 suites, FelCor's portfolio has grown to 193 hotels with nearly 50,000 rooms and suites. The company's hotel portfolio is primarily concentrated in the upscale, all-suite upscale and full-service segments. FelCor is the owner of the largest number of Embassy Suites(R), Crowne Plaza(R) and Holiday Inn(R)-branded hotels. Other leading hotel brands under which FelCor's hotels are operated include Doubletree Guest Suites(R), Doubletree(R), Sheraton Suites(R), and Sheraton(R). FelCor has a current market capitalization of approximately $3.5 billion. 

Starwood Hotels Resorts Worldwide, Inc., through its Sheraton, Westin and Caesars subsidiaries, has 650 hotels in nearly 70 countries with 125,000 employees and is one of the leading hotel and gaming operating companies in the world. Starwood Hotels Resorts is the largest real estate investment trust in the United States. Shares of Starwood Hotels Resorts Worldwide, Inc. are paired and trade together with shares of Starwood Hotels Resorts.