Starwood Vacation Ownership Celebrates Topping Off of The Westin Lagunamar Ocean Resort in Cancun

Luxury property brings first hotel-branded timeshare resort to region 

Starwood Vacation Ownership, Inc. (SVO), a division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today celebrated the topping off of the first phase of the Westin Lagunamar Ocean Resort in Cancun. Contractors, employees and invited guests enjoyed the celebration marking the completion of the structural framework of the first four buildings and reception building of the resort.

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 WestinWORKOUT® Powered by Reebok Fitness Facility. The first phase includes 78 two-bedroom lock-off villas. Upon completion, the resort will have 296 two-bedroom lock-off villas.

“We are extremely pleased to celebrate this milestone for Starwood Vacation Ownership. This is our first vacation ownership resort in Latin America, and we are looking forward to our next celebration at the grand opening of the resort in 2008,” said Sergio Rivera, president, real estate development, Starwood Hotels & Resorts Worldwide, Inc.

The resort will be the first vacation ownership resort in Cancun, Mexico developed by a major U.S. lodging company. It is located on 18 acres of picturesque beachfront property in the heart of Cancun’s Zona Hotelera, Cancun’s main tourism district.

“The location is unbeatable, and we will deliver a product that will raise the bar for the industry in Mexico. The resort design, the interior furnishings, highlighted of course by Westin’s signature Heavenly Bed® and Heavenly Bath ®, and the focus on service will be best-of-class,” said Rivera.

SVO continues to extend its presence in Mexico with two additional properties. SVO recently began construction on The Westin® Los Cabos Ocean Villas, the first vacation ownership resort in Los Cabos, Mexico developed by a major U.S. lodging company. It is adjacent to The Westin Resort & Spa, Los Cabos overlooking the Sea of Cortez.

In addition, the company will soon begin construction on 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, dramatically set on the Pacific Coast of Mexico. The fractional Residence Club will feature roughly 40 free-standing villas, with sales scheduled to begin in 2008.

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 850 properties in more than 95 countries and 145,000 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 .

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