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Press Release Source: Starwood Hotels & Resorts Worldwide, Inc
Starwood Expands the Westin Brand in China with Signing of the Westin Guangzhou
Thursday June 2, 10:00 am ET
Westin Brand Continues Its Expansion In Asia - Hotel Set To Open In Guangzhou's Emerging Central Business District in 2007
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--June 2, 2005--Starwood Hotels & Resorts Worldwide, Inc (NYSE: HOT - News) and Guangzhou Cheng Jian Tian Yu Real Estate Development Company Limited, a subsidiary of Poly (Hong Kong) Investments Limited, announced an agreement for Starwood to manage a 400-room hotel in Guangzhou's emerging central business district. Scheduled to open in 2007, The Westin Guangzhou hotel strengthens Starwood's position as the largest international operator of upscale hotels in China with 34 hotels open or under construction.
Guangzhou is the capital city of Guangdong Province and the region's political, economic, scientific, educational and cultural center. The city is located in the heart of the Pearl River Delta, one of the most economically dynamic and flourishing areas in China, approximately 113 miles from Hong Kong. With a 2,000 year history, Guangzhou is regarded as the "City of Flowers" of China and offers visitors extensive and varied sightseeing experiences - from thousand year-old temples to natural landscapes such as Mount Baiyun Scenic Belt and Conghua Hot Spring.
The Westin Guangzhou will be a short, five-minute walk from the Guangzhou East train station, which is the major access point for commuters between the city and Hong Kong and will be situated in close proximity to the CITIC Plaza Development, which houses the majority of Fortune 500 companies in Guangzhou. The hotel is part of a multi-purpose complex that houses the hotel in one tower and office space and luxury retail shops in another. The Westin Guangzhou will feature 13,000 square feet of meeting and function space, four food and beverage outlets, a health club and spa and an indoor swimming pool.
"We are thrilled that Westin has been selected for this much sought after development opportunity in an emerging business and financial market such as Guangzhou," said Miguel Ko, President of Starwood Hotels & Resorts, Asia Pacific. "China's fast-growing travel sector, including business and leisure travel and the meetings industry, has raised the demand, from both national and international travelers, for upscale and international hotel products and services."
The Westin Guangzhou hotel marks another major step in Starwood Hotels & Resorts' fast-track expansion in China. This is the fifth development in China signed by Starwood in 2005 alone. New developments signed earlier this year include Sheraton hotels in Chongqing, Shanghai and Urumqi as well as a new Westin hotel in Nanjing. The signing of The Westin Guangzhou also heralds the continued expansion of Westin Hotels & Resorts in China. The Westin Guangzhou Hotel will join The Westin Shanghai, The Westin Beijing - Financial Street and The Westin Nanjing as the fourth Westin hotel in mainland China. The Westin Beijing - Financial Street and The Westin Nanjing are slated to open in 2006 and 2009, respectively.
Source: Starwood Hotels & Resorts Worldwide, Inc