Starwoods Hotel

Starwood Expands Presence in Brazil with Upcoming Sheraton Da Bahia Hotel in Salvador December 19, 2012 STAMFORD, CONN. – December 19, 2012 –Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) has partnered with GJP Hotéis & Resorts to expand the presence of its global powerhouse brand Sheraton Hotels & Resorts in Brazil. Sheraton da Bahia Hotelwill be located inSalvador, one of the most important tourist destinations in the country. The 284-room historic Hotel da Bahia is currently undergoing an extensive renovation and will re-open to its full splendor by Q1 2013. It will be operated by local hotelier GJP Hotéis & Resorts under a franchise agreement.

“We are thrilled to expand our portfolio of Sheraton hotels in Brazil and partner with GJP Hotéis & Resorts to open our first hotel in Salvador, one of the country’s most important cities,” said Osvaldo Librizzi, Co-President of Starwood Hotels & Resorts Americas. “This additional hotel in Brazil, highlights our distinctive positioning in this fast-growing market and the strength of the Sheraton brand in the upper upscale hotel segment.”

Starwood currently operates seven properties in Brazil under the Sheraton and Four Points by Sheraton brands. Sheraton da Bahia Hotel will be the 6th Sheraton in Brazil marking another important step in the brand’s global expansion plan to reach a milestone of 500 Sheraton properties by 2015. A 7th Sheraton, Starwood’s 9th property in the country, is scheduled to open by Q1 2014, the Sheraton Reserva do Paiva Hotel and Conference Center in Recife.

“This is a historic time for the Sheraton brand. Starwood has invested billions of dollars in renovating iconic properties and bringing the brand to the most important places in the world,” said Hoyt Harper, Global Brand Leader for Sheraton Hotels. “Brazil is now a powerhouse economy whose prominence around the world will be permanently established with the upcoming World Cup and Olympic Games, and Sheraton is thrilled to expand its presence there during these exciting times.”

When it reopens as Sheraton da Bahia Hotel in Q1 2013, it will feature 284 guest rooms, including 16 suites, all featuring the brand’s signature all-white Sheraton Sweet Sleeper Bed and an exclusive Sheraton Club Lounge. The heart of the lobby will feature the brand’s Link@Sheratonexperienced with Microsoft® – Sheraton’s signature social hub where connections, whether face-to-face or via webcam, can take place. The hotel will also offer two restaurants, the brand’s signature Sheraton Fitness programmed by Core Performance® with a spacious work out space, a 1,938 square feet spa with a salon and sauna, swimming pool, business center, and a large meetings and event facility comprising more than 27,000 square feet of flexible space with capacity for over 400 people.

The hotel is strategically located in the city center and has direct access to Sete de Setembro Avenue, a major roadway that connects the city.

“This property presented a great conversion opportunity for Starwood based on the strength of the Sheraton brand in Brazil. It follows other successful conversions, including the Sheraton São Paulo WTC and the Sheraton Vitoria Hotel, which opened earlier this year,” said Ricardo Suarez, Vice President of Acquisitions and Development for Starwood Hotels & Resorts in Latin America. “Starwood is excited about the continued expansion of the iconic Sheraton brand in Latin America. Today, we have the largest upper-upscale footprint in the region with more than 30 Sheraton hotels in 11 countries. In 2013, we will continue to bring the brand to the most important cities in Latin America as part our aggressive expansion strategy.”

Salvador is one of the most prominent tourist destination in Brazil, and is considered one of the country’s most important ports and international trading centers. The hotel will cater to both business and leisure travelers who are looking for an internationally branded hotel they know and trust.

Salvador the capital of the state of Bahia has a rich history and was declared World Heritage Site by Unesco in 1985. Thanks to its notable cultural attractions, cuisine, music, beaches and architecture, Salvador is today the second largest tourist destinations in Brazil, after Rio de
Janeiro.

“The partnership with the Sheraton brand will greatly enhance GJP Hotéis & Resorts, the brand is a global icon in the hospitality industry, which now arrives in Salvador, at the Hotel da Bahia. The city deserves this accomplishment which will enrich the value of local and national tourism in Brazil, including corporate travel”, said Guilherme Paulus, President GJP Hotéis & Resorts.

The hotel is currently undergoing a meticulous renovation that will preserve the charms and jewels of the historic building, such as the façade with its beautiful tiles and prominent works of art, including the grand murals by Genaro de Carvalho picturing local festivities from Bahia, protected by the IPAC – Institute of Arts and Cultural Heritage of Bahia State since 1981, as well as three other large murals by renowned Argentine artist Carybé, especially commissioned for the hotel picturing scenes from the Brazilian lifestyle located in the hotel’s lobby area.

About Sheraton Hotels & Resorts
Sheraton helps guests make connections at more than 400 hotels in 70 countries around the world and recently completed a $6 billion global revitalization and is now in the midst of a $5 billion global expansion over the next three years. Sheraton is owned by and is the largest and most global brand of Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and leisure companies in the world with 1,128 properties in 100 countries and territories with 154,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, and Element SM. The company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. 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 visitwww.starwoodhotels.com .

About GJP Hotéis & Resorts
GJP Hotéis & Resorts has more than 1.3 thousand employees, with more than 15 hotels and resorts around Brazil, of which one is currently under construction and one already scheduled to open in the first quarter 2013. Of the 15 properties, seven are owned and eight are under a management contract. The operating company is owned by GJP Participações, holding that also owns 36,7% of CVC Viagens, amongst other business. GJP Hotels & Resorts are present in Gramado (RS), Porto de Galinhas (PE), Maceió (AL), Natal (RN), Porto Seguro (BA), Foz do Iguaçu (PR), Barra do Piraí (RJ), Rio de Janeiro (RJ), Aracaju (SE) and now Salvador (BA). For more information, please visit: www.gjp.com.br

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Further results, performance and achievements may be affected by general economic conditions, including the duration and severity of any global or regional economic downturns, the availability of financing alternatives at acceptable terms, the impact of war and terrorist activity, business and financing conditions, foreign exchange fluctuations, cyclicality of the real estate (including residential) and the hotel and vacation ownership businesses, operating risks associated with the hotel, vacation ownership and residential businesses. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.