Sheraton Tarrytown Breaks Ground Just a Stone's Throw From Starwood's Backyard in Westchester County

Starwood to Debut Its Most Global Brand in Its Home County

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. October 14, 2008

WHITE PLAINS, NY, November 9, 2005. Starwood Hotels & Resorts Worldwide, Inc. announces the groundbreaking on a new Sheraton hotel in Tarrytown, New York, located just five miles from Starwood's corporate headquarters in White Plains. The 150-room Sheraton Tarrytown will be the hotel giant's first property in scenic and suburban Westchester County. The Sheraton Tarrytown is owned and managed by New Castle Hotels and Resorts and expected to open in January 2007.

Originally settled by Dutch settlers in the 1600's, Tarrytown is a vibrant, suburban bedroom community located just 20 miles north of midtown Manhattan featuring many historic and cultural attractions. Tarrytown is home to Sunnyside, the birthplace of renowned American author, Washington Irving, who wrote the classic novel, The Legend of Sleepy Hollow. Tarrytown and Lyndhurst, a stunning example of 19th century Gothic Revival architecture situated on the banks of the majestic Hudson River.

"Starwood is thrilled to partner with longtime management affiliate, New Castle Hotels & Resorts," said Joseph Gelchion, senior vice president of operations, Sheraton Hotels & Resorts. "We have been looking forward to bringing our most global brand to the dynamic Westchester area and believe that the Sheraton Tarrytown will impress our business and leisure guests in this market."

The hotel will have 150 guest rooms, a full-service restaurant, and a health club with indoor swimming pool and whirlpool. The Sheraton Tarrytown will feature urban architecture with a 19th century American park design with a signature courtyard, cobblestone pavement with black iron fencing. An impressive awning porte cochere will set the tone for a timeless and classic interior of mahogany, suede wall coverings, leather furnishings and dramatic lighting. Guests will enjoy a unique guest room experience with Sheraton's signature Sweet Sleepersm Bed; an expansive 12-foot desk, LCD TV's; oversized bathrooms with double-frosted glass doors at entry and frameless glass shower stalls. Other guest services will include the Sheraton Club Level with upgraded room amenities and an exclusive Club Lounge.

This newly-built Sheraton will be smaller in size than you would find in a "downtown" urban location and is designed with just this type of growing market in mind. Designed to be scalable to the depth of secondary and tertiary markets, this newly developed premium prototype design is of the same quality as core brands Sheraton but at a lower cost per key because of the efficiency of their designs.

New Castle Hotels & Resorts, the Shelton, CT.-based company is a Starwood preferred management company for three leading Starwood brands: Sheraton, Westin and Four Points by Sheraton.

(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.)