WHITE PLAINS, N.Y., April 3 /PRNewswire/ -- Starwood Hotels & Resorts
Worldwide, Inc. (NYSE: HOT) through its wholly-owned affiliate, announced
today that it has completed the acquisition of the remaining
50% interest in the 1,377-room Sheraton Centre Toronto in Ontario, Canada for
CDN $75 million (approximately $48 million USD). The hotel was purchased from
Metropolitan Marine Way Investments, Ltd., an affiliate of MetLife. Starwood
already owned 50% of this asset before completion of this acquisition.
The Sheraton Centre Toronto Hotel is conveniently located in the heart of
Toronto's financial, entertainment and live theatre districts. The hotel is
directly connected to six miles of underground shops and services as well as
the impressive Toronto Eaton Centre shopping mall. Local tourist attractions
such as SkyDome, the Air Canada Centre, CN Tower, Metro Toronto Convention
Centre and Hockey Hall of Fame are within easy walking distance. Major
theatrical venues, including The Princess of Wales Theatre, the Royal
Alexandra, Elgin Theatre, Wintergarden and Hummingbird Centre for the
Performing Arts are also a short stroll from the hotel. Toronto City Centre
Airport and Pearson International Airport are 5 kilometers and 26 kilometers
respectively from the hotel.
One of the largest hotels in Canada, the Sheraton Centre Toronto Hotel
features two restaurants, two lounges, 25-metre indoor/outdoor pool, a full
service spa, supervised play/activity center for children and 2.5 acres of
waterfall gardens and terraces. Guests staying on the Club Level of the hotel
enjoy the 43rd floor Club Lounge with panoramic views of Toronto to the south
and north. The hotel caters to conferences and conventions, individual
business travelers and leisure guests who can redeem their stays for points in
the Starwood Preferred Guest(R) program. Business travelers and convention
groups can take advantage of the hotel's 36 meeting rooms incorporating more
than 84,000 square feet of flexible meeting space.
The Sheraton Centre Toronto Hotel has been the recipient of several travel
industry trade magazine awards. The hotel is the only Canadian hotel awarded
"Gold Key Award -- Hall of Fame" status by Meetings & Conventions magazine and
is a 14-year recipient of the coveted Pinnacle Award from Successful Meetings
magazine.
More information on the Sheraton Centre Toronto Hotel is available from
any travel agent or Starwood sales office, by phoning the toll-free
reservations number (800-325-3535) or by visiting the Sheraton website at
http://www.sheraton.com.
Sheraton Hotels and Resorts has more than 375 hotels in 67 countries and
is the largest brand of Starwood Hotels and Resorts Worldwide, Inc. Starwood
Hotels & Resorts Worldwide, Inc. (NYSE: HOT) is one of the leading hotel and
leisure companies in the world with more than 725 properties in 80 countries
and 120,000 employees at its owned and managed properties. With
internationally renowned brands, Starwood is a fully integrated owner,
operator and franchiser of hotels and resorts including: St. Regis, The Luxury
Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as
Starwood Vacation Ownership, Inc., one of the premier developers and operators
of high quality vacation interval ownership resorts. For more information,
please visit us at http://www.starwoodhotels.com.
** Please contact Starwood's toll-free media hotline at (866) 4-STAR-PR
(866-478-2777) for photography or additional information**
SOURCE Starwood Hotels & Resorts Worldwide, Inc.
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Related links:
http://www.starwoodlodging.com
http://www.sheraton.com http://www.starwoodhotels.com
Company News On-Call:
http://www.prnewswire.com/comp/443150.html or fax,
800-758-5804, ext. 443150
CONTACT:
Katie Meyer, Vice President, Public
Relations, 914-640-8247, Katie.meyer@starwoodhotels.com, or Mark
Ricci, Public Relations Manager, 914-640-8496,
Mark.ricci@starwoodhotels.com, both of Starwood Hotels & Resorts
Worldwide, Inc.; or Canada - Cynthia Bond of Starwood Hotels &
Resorts Canada, 416-947-4827, cynthia.bond@starwoodhotels.com
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