08/07/2008Starwood Vacation Ownership Prepares for the Grand Opening of The Westin Lagunamar Ocean Resort in Cancun

Orlando, FL (June 7, 2008) – Starwood Vacation Ownership, Inc. (SVO), the fractional and vacation ownership division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), is scheduled to open the first phase of the Westin Lagunamar Ocean Resort in August. The resort will be SVO’s first vacation ownership resort in Cancun, Mexico, as well as the first hotel-branded vacation ownership resort in Cancun. The Company also currently has two other vacation ownership and fractional resorts under development in Mexico.

The first phase of the Westin Lagunamar Ocean Resort consists of four eight-story buildings, a reception building, sales gallery and various amenities including a lavish swimming pool and Westin WORKOUT® fitness facility. This phase will include 78 two-bedroom lockoff villas. Upon completion, the resort will have a total of 296 two- bedroom lockoff villas. The Westin Lagunamar Ocean Resort will feature sensory-rich experiences for which the brand is known, including The Westin Welcome with the signature white tea scent, custom botanicals and special lighting to create an arrival like no other. The resort will also feature Heavenly® Bed and Bath, a special Unwind Evening Ritual (sm), the Westin Kids Club and even the new Westin SuperFood RX ™ menu in the restaurant.

“We are excited to offer ownership opportunities in Cancun, one of Latin America’s most popular and convenient resort destinations. Members and guests will enjoy luxurious accommodations, a full range of amenities, and the convenience of top-tier services offered at the nearby Westin Resort & Spa, as well as exchange opportunities to our growing portfolio of award-winning Westin resorts,” said Sergio Rivera, president, real estate development, Starwood Hotels & Resorts Worldwide.

Starwood Vacation Ownership launched vacation ownership sales of the resort earlier this year at an exquisite new sales gallery located within the nearby Westin Resort & Spa, Cancun. On site sales at the Westin Lagunamar will begin soon after the resort opens in August.

The Westin Lagunamar Ocean Resort represents Starwood’s third location in Cancun, the others being the Westin Cancun Resort & Spa and the Le Meridien Cancun Resort & Spa. The newest in the portfolio is located on 18 acres of picturesque beachfront property in the heart of Cancun’s Zona Hotelera, Cancun’s main tourism district. In addition to Cancun, Starwood has two other projects under development in Mexico. The company recently announced plans for the Westin Los Cabos Ocean Villas, the first vacation ownership resort in Los Cabos developed by a major U.S. lodging company. It is adjacent to the award winning Westin Resort & Spa, Los Cabos, overlooking the Sea of Cortez.

Also under construction is the St. Regis Punta Mita, a luxurious mixed-use property including a St. Regis Hotel, whole ownership residences and fractional interests at the St. Regis Residence Club, Punta Mita, dramatically set on the Pacific Coast of Mexico. The Residence Club will feature roughly 40 free-standing villas, with sales scheduled to begin in 2008.

For information on employment or sales at The Westin Lagunamar Ocean Resort, please contact www.starwoodvo.com.

About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 900 properties in more than 100 countries and 155,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis®, The Luxury Collection®, Sheraton®, Westin®, Four Points® by Sheraton, W®, Le Méridien® and the recently announced AloftSM and ElementSM Hotels. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com/pressclub

Ellen Yui,

Elizabeth Kelley Grace

David Matheson,
Starwood Vacation Ownership