The Westin Cleveland Downtown Set to Open Spring 2014

Hotel currently undergoing $64 million renovation; will feature more than 1,000 works by Cleveland artists

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. January 18, 2013

January 18, 2013 - Sage Hospitality and Optima Fund Management are pleased to announce that the highly anticipated The Westin Cleveland Downtown will open in Spring 2014 after the completion of a $64 million renovation.

The contemporary 484 room hotel is located in Cleveland's downtown financial district adjacent to the new Cleveland Convention Center and Medical Mart and just steps from Brown's Stadium and the Rock & Roll Hall of Fame.

Ohio-based Marous Brothers Construction, design/builder on the project, began remodeling the property in December; plans include the renovation of all public areas, event space and guest rooms. The new exterior façade will feature metal panels and LED lighting that rotates through a range of colors. Once completed, the hotel - which is expected to earn LEED certification - will feature a state-of-the-art fitness center, a business center and a Starbucks.

Designed by McCarten, an award winning New York design firm, the property will offer a relaxed elegance with ample natural light throughout and the extensive use of patina wood, leather and steel. The lobby will welcome guests with a residential, sociable feel, featuring a mix of communal work tables and whimsical yet comfortable furniture.

The property's 484 guest rooms - many of which offer sweeping Lake Erie views - will feature Westin's signature Heavenly in-room amenities, including the Westin Heavenly Bed and a luxurious bathroom, along with a sectional sofa, an ergonomic work space and high speed wireless Internet.

Sage is working with Cleveland's LAND Studio to commission more than 1,000 pieces by local artists that reflect the highly industrious and creative nature of Cleveland. The art will hang throughout the hotel, including a major sculpture above the main entrance.

“The Westin Cleveland will offer an unparalleled lodging experience for downtown Cleveland,” said Ken Geist, Executive Vice President and Partner at Denver-based Sage. “We are striving to create a property that showcases Cleveland's entrepreneurial spirit while also offering travelers the latest in luxury and high tech amenities.”

The Westin Cleveland Downtown will offer 20,000 square feet of flexible event space that can be divided into 20 separate rooms, including a 9,000 square foot Grand Ballroom connected to the floor above by a glass staircase.

“We are thrilled to be working with Sage Hospitality on this project which will create a distinct new lodging destination for downtown Cleveland,” said Chaim Schochet of Optima. “This hotel project is the perfect complement to the $200 million that Optima has already invested in Cleveland's downtown.”

Adjacent to the hotel will be a modern farm to table steakhouse. Denver-based Sage Restaurant Group and restaurateur Peter Karpinski will introduce Urban Farmer - Cleveland's Steakhouse to the local community. This will be the second outpost of their award winning Urban Farmer in Portland, OR, which focuses on serving local, organically sourced food from the regions farmers, ranchers and foragers. The restaurant will be open for breakfast, lunch and dinner daily.

The Westin Cleveland Downtown is located at 777 St. Claire Ave. NE in Cleveland. For more information, please visit www.westincleveland.com.

About The Westin Cleveland Downtown

A contemporary hotel with a classic vibe, The Westin Cleveland Downtown is located in the financial district, just steps away from Brown's Stadium, the Convention Center, Medical Mart and the Rock & Roll Hall of Fame. Opening Spring 2014, the hotel will offer 484 luxurious guest rooms all fully equipped with Westin's signature Heavenly in-room amenities, as well as a state-of-the-art fitness center, a business center, complimentary Wi-Fi and an on-site Starbucks. The hotel's 20,000 square feet of meeting and event space can be divided into 20 separate rooms, including a 9,000 square foot Grand Ballroom. To learn more about the Westin Cleveland Downtown, visit www.westincleveland.com.

About Sage Hospitality

Founded in 1984, Sage Hospitality has strategically grown into one of the largest privately held hotel management and development companies in the nation operating a variety of large, full-service hotels and extended stay and select-service properties. Sage Hospitality's comprehensive management portfolio includes major international brands for Marriott, Starwood, Hilton and IHG as well as the independent boutique hotels. For more information, please visit www.sagehospitality.com.

About Optima Fund Management

Optima Fund Management is an established and well respected $3.5 billion private investment firm specializing in hedge fund investments and customized solutions for investors. Founded in 1988, the firm is headquartered in New York with offices in London and Bermuda. Optima is SEC registered and provides services to institutions, family offices and individuals by managing, customizing, or advising on hedge fund investments and related portfolios. www.optima.com