First of Two Element Hotels Opens in Houston

Element Houston Vintage Park

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. March 18, 2009

WHITE PLAINS, NY, March 17, 2009 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announces the opening of Element Houston Vintage Park, the first Element hotel to open in Texas. Inspired by WestinTM Hotels & Resorts, Element invites guests to check-in to a new travel experience with comfortable public spaces, modern style and eco-friendly design.

Owned by Condor Hospitality, LLC and managed by InterMountain Management, LLC of Louisiana, the newly constructed, 123-room hotel is a key part of the new Vintage Park lifestyle center located in bustling northwest Houston. The General Contractor for the Element is Benchmark Development Corporation of Dallas. This is the first of two Element projects between the ownership group, development team, and InterMountain Management. The Element Hotel in Lone Tree, Colorado will open in the summer of 2009.

Awaken to Smart Eco-chic Design

The Element brand's unique design philosophy is evident the moment guests arrive. After passing through a signature portal that provides a literal bridge to the Element interior, guests will be greeted with streams of natural light from a multi-storied window wall. The vitality of the lobby will be matched by the energy of the hotel's outdoor fire pit and barbecue, where a weekly evening reception allows guests to interact while enjoying a selection of savory food.

"Every aspect of Element Houston Vintage Park is designed to help guests recharge and be at their best while they are traveling," said Brian McGuinness, Vice President of Element Hotels. "Our guests will be able to experience a whole new perspective on longer stay travel while enjoying vibrant northwest Houston and easy access to the area's leading technology firms, shopping, dining and recreation."

The smart design and clever use of space in the hotel's guest rooms rejuvenates and energizes guests for work or play. Guests are able to customize their rooms to meet their needs with the multi-purpose, modular furniture, swiveling flat-screen televisions, large desks with open shelving and custom-designed closets. Rooms also offer a fully equipped kitchen that features modern, ENERGY STAR-rated appliances and all the utensils necessary to prepare a gourmet meal. Guests will rest soundly in the signature Heavenly(R) Bed, and wake up and recharge each morning in a sleek, spa-inspired Heavenly shower.

A Vital Travel Hub

Located in Houston's premier northwest business and shopping area, Element Houston Vintage Park is a key part of a new upscale retail and lifestyle center, just minutes from the Willowbrook shopping complexes, less than 20 minutes from the IAH Airport and 25 minutes from the heart of downtown Houston. Also nearby are the offices of HP, the George R. Brown Convention Center, Toyota Center, the Sam Houston Race Park and several golf courses.

"Element Houston Vintage Park delivers a comfortable and inspiring longer stay experience, as well as easy access to the best of northwest Houston," said Billy Brown, President, Condor Hospitality. "Ideal for both work and relaxation, Element creates an inviting atmosphere enhanced by sleek, modern spaces and natural touches."

Space to Live Your Life

A signature complimentary breakfast offering, free wireless internet access, state-of-the-art fitness center, chlorine-free pool and uninterrupted indoor/outdoor public spaces will deliver everything the guests need to work, relax or socialize on their schedule. Intuitive staff will provide guests the personalized attention they need and the space they desire to maintain balance while away from home.

Element Houston Vintage Park will also feature 456 square feet of meeting space, an integrated technology center and library, as well as caf'e seating, a workspace and a flexible lobby space.

Great for the Earth, Great for Guests

Element Houston Vintage Park will be working towards LEED certification in its first year of operation, as part of the Element brand's historic effort to require all its hotels to pursue this certification. The Element brand's green features are cleverly designed to be as aesthetically appealing as they are eco-friendly, so guests never compromise on style and comfort. Element Hotels are equipped with energy-efficient, stainless steel appliances and lighting, amenity dispensers in the showers to reduce waste and water-efficient faucets and fixtures. Guests can continue daily routines such as recycling papers and plastics, as well as using green materials, while those driving hybrid cars are rewarded with priority parking. Even the ubiquitous "Do Not Disturb" sign has been replaced with an environmentally-friendly magnet.

(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.)