A320 EOW

http://biz.yahoo.com/bw/050908/85559.html?.v=1

Press Release Source: Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels Announces First Westin Hotel in Downtown Paris
Thursday September 8, 11:25 am ET
Intercontinental Paris Hotel to be Reflagged The Westin Paris

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Sept. 8, 2005--Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT - News) today announced a new Westin Hotel in central Paris. Starwood has entered into a long-term management agreement with an affiliate of GIC Real Estate Pte Ltd to operate the historic landmark hotel which was formerly the Intercontinental Paris Hotel. The Hotel will convert to The Westin Paris on October 10, 2005 and is expected to feature all Westin brands standards by the end of the year. The Westin Paris will be the first Westin in downtown Paris and the fifth Starwood property in France.

When the hotel was first opened in 1878 it was celebrated as the most exclusive property of its kind and was regarded as a national treasure of France's Second Empire. The hotel is an enviable location, offering a breathtaking view of the Tuileries Gardens and many of Paris' most recognized and treasured landmarks. Just steps from the Place de la Concorde and the elegant Rue du Faubourg St-Honore, the hotel is ideally located in the government and business neighborhood and is minutes away from the largest shopping and cultural areas of the city.

The newly converted Westin Paris will feature 438 rooms, including 76 Suites. The hotel will offer some of Paris' largest, most luxurious and exclusive meeting facilities, with a 4,300 square feet ballroom, as well as 11 other meeting rooms, providing a total of 21,500 square feet of versatile meeting space. The hotel will also boast a gourmet restaurant with a beautiful terrace and bar. The hotel will remain open for business throughout the conversion period.

"This project is a dream come true for Westin as Paris has been a strategic target for us for many years," said Sue Brush, senior vice president, Westin Hotels & Resorts. "We are honored to be appointed by GIC Real Estate, a premier global real estate owner, to be the operator of this historical landmark hotel. The Westin Paris is a symbol of our commitment to France and another important step in the expansion of the Westin brand in Europe."

The hotel underwent a Euro 46 million refurbishment in 1998 and the owners will invest an additional Euro 12 million to convert this property to Westin Brand standards. The new Westin Paris will feature all of Westin's signature standards and products including the Heavenly Bed®, Heavenly Bath®, and the newly launched WestinWORKOUT® program.

Dr Seek Ngee Huat, President of GIC RE said, "This is a rare opportunity to purchase a freehold, prime hotel in Paris. Given our confidence in the reputation of the property, its superb location and the strength of the premier 'Westin' brand, we expect strong growth in light of the anticipated recovery in the Paris hotel market."

Notes to Editors:

GIC Real Estate ("GIC RE") is the real estate investment arm of the Government of Singapore Investment Corporation ("GIC"), which manages the foreign reserves of Singapore. GIC RE's mandate is to invest in real estate-related assets outside of Singapore. Its investments cover all property sectors (including office, retail, industrial, hotel or residential assets) and product types, ranging from direct building acquisitions, property investment funds to strategic stakes in publicly-listed property companies, joint ventures and real estate debt. GIC RE's large and diversified portfolio comprises about 140 assets in over 30 countries. It is one of the largest institutional investors in Asia and currently ranks amongst the world's top 20 global real estate investment firms.

Starwood already operates four hotels in France under the Sheraton, Westin, Luxury Collection and Four Points brands including world famous landmarks such as the Prince de Galles Paris, the Sheraton Paris Airport, the Four Points Elysee Palace Nice and the Trianon Palace & Spa, which is operated under the Westin brand. The Trianon Palace & Spa, A Westin Hotel became the first Westin flagship in France in 1997, located on the edge of the Park of the Chateau de Versailles, only 20 minutes driving from the Champs-Elysees.



Source: Starwood Hotels & Resorts Worldwide, Inc.

Mahalo

This is a great addition to the Starwood family! Excellent news.

A320 EOW

In case anyone is interested, I believe the hotel in question is this one.

3Cforme

This is a fantastic location. I had stayed at this property in 1998 when the renovation was underway and thought the result was great.

TMOTEE

This is fantastic news. I wonder if Westin will do another makeover ?

AZ Travels the World

This is very good news. ^ This hotel will quickly eclipse the Prince de Galles as the best Starwood option in Paris. (Not that it's a particularly daunting task.)

SanDiego1K

This is a beautiful hotel in a perfect location. It's just around the corner from Angelinas.

edinmhd

As one who has stayed in the Prince several times, I am excited to finally have a property that is not in the dreaded Champs Elysee area. If memory serves, it is also about 1 block away from the Metro (1 Line)

I am assuming this will be a Cat 5 property- any chance it will be Cat 6?

notsosmart

Don't give'em any ideas.

Lucky for me I have so many friends in Paris it's always Cat 0 for me.

vincom

It's about time we had some other option in Paris!

YaY!

-Vincent

EquityMind

Awesome! Just in time for my november trip to Paris...

fljbrs

When will it be bookable? (not in the spg web yet)
Any "rebranding" offers?

I also have a trip to Paris in November....

sbtinme

Well, not exactly the first Westin in Paris .... many of us "old timers" will well recall the several Westin Demeure (sp?) Hotels that were in Paris -- to include the fabulous Baltimore hotel. Yes, these hotels were dually branded (like Westin did with some Caesar Park hotels, ANA, Prince Hawaii/YYZ, etc, etc, over the years).

So, to suggest that this is Westin's first foray into Paris is not precisely so. My old Westin Premier account benefitted greatly from my stays in these former Westins!

kluau88

Angelinas...mmmmmmmmmmmmmmmmmmm

tnw

I called Customer Service today to enquire about bookings. They said they had no information yet. I explained I needed a room for May 2006 and the Prince de Galles is not bookable from about March thru August. (did find out it is due to renovations). They said I should go ahead and book a room through the hotel's existing website and then when Starwood takes over, I can have my Starwood number added to the reservation. I did and look forward to having another property in Paris like everyone else.