Developed and Owned by Hoteleira Quinta Do Bessa, S.A., the Hotel Will Augment
Starwood's Already Strong Position in Portugal and the Iberian Peninsula
WHITE PLAINS, N.Y., Dec. 6 /PRNewswire/ -- Starwood Hotels and Resorts
Worldwide, Inc. (NYSE: HOT) and developers/owners Hoteleira Quinta do Bessa
S.A. announced today that they have entered into a long-term management
agreement under which Starwood will operate the 284-room Sheraton Porto
currently under construction in the City of Porto, Portugal, and scheduled to
open mid-year 2003.
"We are delighted to be entering this market by signing this agreement
with Hoteleira Quinta do Bessa, S.A.," said Roeland Vos, President of the
European Division of Starwood Hotels & Resorts Worldwide, Inc. "The Sheraton
Porto will further augment Starwood's outstanding portfolio of hotels in
Portugal and the Iberian Peninsula. The excellent location and outstanding
physical product planned by Mario Vasco Pereira and his team will greatly
enhance our representation in Portugal and will add another important market
to our spectacular portfolio of hotels in Europe." Vos added, "The Sheraton
Porto will no doubt become a favorite destination spot for Starwood Preferred
Guest members to redeem their points for free stays."
Mario Vasco Pereira, President of Hoteleira Quinta do Bessa S.A. stated,
"We are proud to have reached this agreement with Starwood. The Sheraton
brand is, in our view, the strongest international brand, both in Portugal and
throughout Europe and the rest of the world. We strongly believe that the
combination of the brand, our location, design and physical specifications
will enable the Sheraton Porto to command a dominant position in the Porto
market as soon as the hotel is operational."
"We are proud of our association with Starwood and its powerful Sheraton
brand," Mr. Pereira added. "We are confident that our partnership will assist
Porto in establishing the city's business and tourism infrastructure,
ultimately benefiting the city of Porto and the economy of Portugal."
The Sheraton Porto, will be located on Avenida Boavista in the heart of
Porto's business district. Designed by the Lisbon-based architect Joao
Paciencia, the Sheraton project will have 284 deluxe rooms and suites, a
restaurant and bar, a ballroom and meeting rooms, underground parking, a
swimming pool and health club. The construction permit was issued on in
August 2000 and construction is now well underway.
In Portugal, Starwood Hotel & Resorts Worldwide Inc. owns and operates the
Sheraton Lisboa and operates the Sheraton Algarve on behalf of a third party
owner.
In Spain, Starwood owns or and/or operates six hotels including such
famous hotels as The Westin Palace, Madrid, Hotel Alfonso XIII, A Westin
Hotel, Seville and Hotel Maria Cristina, A Westin Hotel, San Sebastian, the
recently opened Westin La Quinta Golf Resort, Marbella, while the recently
announced Sheraton Bilbao, is expected to open in mid-2002. Through the
ArabellaSheraton joint venture, Starwood also manages the ArabellaSheraton
Golf Hotel in Mallorca.
Sheraton Hotels & Resorts, the largest brand of Starwood Hotels & Resorts
Worldwide, Inc. (NYSE: HOT), has more than 375 hotels in 67 countries.
Starwood 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.
SOURCE Starwood Hotels and Resorts Worldwide, Inc.
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http://www.starwoodlodging.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.
NOTE TO EDITORS: Please contact Starwood's new toll-free media
hotline at 866-4-STAR-PR (866-478-2777) for photography or
additional information.
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