Starwood Hotels & Resorts Accelerates Footprint in Malaysia

KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--Starwood Hotels & Resorts Worldwide, Inc.(NYSE:HOT) today announced it has signed an agreement with IOI Properties Group to manage twohotels - Four Points by Sheraton Puchong and Le Méridien Putrajaya, slated to open in the fall of2014 and 2015, respectively. These two new hotels will add 599 rooms to Starwood's robust portfolioin the country and reflect Starwood's desire to expand into the fast growing districts of Malaysia.Puchong and Putrajaya are part of the Klang Valley area, which includes Kuala Lumpur and itssuburbs and adjoining cities and towns in the state of Selangor.

"We are delighted to announce the signings of Four Points by Sheraton and Le Méridien in theKlang Valley, underscoring our expansion plans in Malaysia, one of the world's most dynamicdestinations," said Chuck Abbott, Regional Vice President, Southeast Asia, Starwood Hotels &Resorts. "We look forward to further strengthening our footprint in the country as we welcome thesetwo hotels into our portfolio."

"IOI Properties is happy to partner Starwood Hotels and Resorts to expand the Four Points bySheraton and Le Méridien brands in the Klang Valley," said Lee Yeow Seng, Chief ExecutiveOfficer, IOI Properties Group Berhad. "The hotels will be considered landmark developments withinthe two townships and contribute positively towards their growth and our portfolio."

"Malaysia's strong economic growth and healthy tourism arrivals present us with a very excitinggrowth opportunity," said Matthew Fry, Senior Vice President, Acquisition & Development, AsiaPacific, Starwood Hotels & Resorts. "Starwood's development in the fast growing districts ofPuchong and Putrajaya will enable us to cater to Malaysia's growing middle class and the increasednumber of business and leisure travellers in the market."

Starwood currently operates 12 hotels in the country's key destinations, including Kuala Lumpur,Langkawi, Penang, Kota Kinabalu, Sandakan, and Kuching. In addition to Four Points by SheratonPuchong and Le Méridien Putrajaya, Starwood's Malaysian pipeline includes: The St. Regis KualaLumpur, W Kuala Lumpur, Sheraton Petaling Jaya Hotel, Sheraton Desaru Hotel, and Four Points bySheraton Kota Kinabalu.

Four Points by Sheraton Puchong

Scheduled to open in the fourth quarter of 2014, Four Points by Sheraton Puchong is strategicallylocated in the heart of Puchong's developing new business district, Puchong Financial CorporateCentre (PFCC) at Bandar Puteri Puchong. Puchong is a major town in the Petaling district ofSelangor, Malaysia and is situated midway between Kuala Lumpur and Putrajaya, the federaladministrative capital. The hotel is located about 32 kilometers from the Kuala Lumpur InternationalAirport; and is approximately a 20-minute drive to the Kuala Lumpur city centre. The hotel will beconveniently accessible by public transportation, and only be a short walk from the LRT station duefor completion in the first quarter of 2016.

Four Points by Sheraton Puchong will feature 249 stylish and contemporary guestrooms, including12 executive suites designed for an unencumbered, comfortable stay. The hotel will also feature atotal of 1,110 square metres of meeting space, including an 800-square- metre grand ballroom.

Additionally, the hotel will have a swimming pool, two food and beverage venues including thebrand's signature restaurant, The Eatery, a fitness centre, and a variety of other amenities such asfree Wi-Fi, free bottled water and free coffee - all amenities that make the Four Points brand afavourite with travellers worldwide.

Upon completion, Four Points by Sheraton Puchong will be the fifth Four Points by Sheratonproperty in Malaysia, following the success of the brand in Langkawi, Sandakan, Kuching and therecently opened Four Points Penang.

Le Méridien Putrajaya

Strategically located in Malaysia's federal administrative capital, Le Méridien Putrajaya will besituated in close proximity to the city's commercial and retail areas, including the IOI City Mall,which is slated to open late this year. The hotel will offer 350 contemporary guestrooms, all outfittedwith the signature Le Méridien Bed®. Le Méridien Putrajaya will feature two innovativerestaurants concepts, fitness centre, spa facilities, and a swimming pool. The hotel will have morethan 1,630 square metres of state-of-the-art meeting and event space, including a grand ballroom.

Le Méridien Putrajaya will also feature the signature Le Méridien Hub(TM), which re-interpretsthe traditional lobby into a social gathering place, and further builds on the brand's award-winningarrival experience and coffee culture. Le Méridien arrival consists of four elements: large-scaleartwork in high impact areas; the sensory experience, illustrated through Le Méridien signaturescent, sound and use of light; UNLOCK ART(TM) programme, featuring artist designed key cardcollections that offer access to Le Méridien affiliated contemporary cultural centers in the city;and a 24-hour curated soundtrack by French Bossa Nova band Nouvelle Vague. The Hub featuresthe signature Master Barista, a recently launched initiative to meet the growing demands of coffeelovers at every Le Méridien hotel worldwide. Master Baristas lead coffee-related initiatives at eachhotel, serve as a coffee cultural ambassador, and maintain knowledge of current coffee trends withinthe destination.

Le Méridien Putrajaya will be the brand's third hotel in Malaysia after Le Méridien KualaLumpur and Le Méridien Kota Kinabalu.

For more information on Four Points by Sheraton and Le Méridien please visitwww.starwoodhotels.com

About IOI Properties Group Berhad

IOI Properties Group has consistently beenrecognised as one of Malaysia's top tendevelopers; being known for creatingsustainable and close-knit moderncommunities such as IOI Resort City, BandarPuteri Puchong, Bandar Puchong Jaya and 16Sierra - all of which are synonymous withcontemporary residences, amenities, facilitiesand infrastructure. For more information,please log on to www.ioipropertiesgroup.com.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in theworld with nearly 1,200 properties in 100 countries and 181,400 employees at its owned andmanaged properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resortsand residences with the following internationally renowned brands: St. Regis®, The LuxuryCollection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton,Aloft®, and Element®. 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 also owns Starwood VacationOwnership, Inc., a premier provider of world-class vacation experiences through villa-style resortsand privileged access to Starwood brands. For more information, please visitwww.starwoodhotels.com

http://www.businesswire.com/news/home/20140612005021/en/Starwood-Hotels-Resorts-Accelerates-Footprint-Malaysia