Sheraton Toronto Airport Set for Debut

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. June 29, 2009

JUNE 29, 2009 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to open the Sheraton Toronto Airport Hotel & Conference Centre. Owned and managed by Larco Hospitality Management Inc., the 249-room hotel is a former Renaissance and will convert to a Sheraton on July 15.

The property - Larco's second Sheraton branded hotel - will receive significant enhancements, infusing Sheraton's signature amenities and services, to provide a differentiated, exceptional guest experience. The renovation of this urban business, convention and leisure property is part of a worldwide, multi-year effort to revitalize Starwood's most global, iconic brand. The effort, which began in 2007, includes an investment of over $2 billion in new hotels, $1.5 billion in renovations and $400 million in signature initiatives around the Sheraton brand.

Sheraton Toronto Airport Hotel & Conference Centre will undergo a substantial upgrade, including:

o A revitalized lobby, featuring the Link@Sheraton experienced with Microsoft(R), the brand's signature communications hub where guests can enjoy free Wi-Fi, desktop computers, television viewing, newspapers, magazines and caf'e offerings including Starbucks(R).

o A guest room refresh that includes the addition of 37" LCD flat panel televisions, oversized work desks, comfortable seating and Sheraton's new Sweet SleeperTM bedding, with new design elements including an all-white linen ensemble, pillows, duvet, sheets and bed skirt.

o Sheraton Club Level accommodations and an exclusive Club Lounge will be a signature offering to the property, providing deluxe accommodations for business and leisure guests, as well as additional services and amenities.

o A revolutionary new health and fitness program, "Sheraton Fitness, Programmed by Core Performance," will keep guests fit on the road. Through an exclusive partnership, Core Performance designed a holistic program exclusively for Sheraton guests, which is derived from the same training methodology used at Athletes' Performance, the preferred and premier place for professional athletes to train. The program helps travelers train and eat healthy, as well as refresh, recharge and refocus their minds and bodies. A glass-domed skylit indoor pool and whirlpool round out the recreational offerings.

"Sheraton's bold commitment to reposition itself with extensive renovations and signature offerings is impressive," said Joann Pfeifer, Senior Vice President, Larco Hospitality Management Inc. "The addition of the Sheraton Club Level, the Link@Sheraton and Core Performance are defining competitive advantages that will bode us well."

"We are proud to welcome the Sheraton Toronto Airport Hotel & Conference Centre to the Sheraton international portfolio," said Hoyt Harper, Senior Vice President, Sheraton Hotels & Resorts. "Toronto is an international global hub and the property's renovation is part of an historic global effort to revitalize the iconic Sheraton brand. We're excited that this dynamic Sheraton property will be showcased to world travelers."

Just minutes from Toronto's Pearson International Airport, the Sheraton Toronto Airport Hotel & Conference Centre will complement the existing Sheraton Gateway Toronto Hotel. In addition to the many enhancements and new offerings, the hotel will also offer substantial modern meeting facilities, including 17 meeting rooms across 26,000 sq. ft. of natural light-filled space. The largest room, the Ambrosia Ballroom, offers 7,140 sq. ft. for trade shows, meetings or catered events and weddings. The hotel will also offer a variety of flexible meeting and conference packages, smart technology and innovative meeting services.