ORLANDO, Fla. / July 24, 2000-- Starwood Hotels & Resorts Worldwide Inc. HOT today announced continued integration plans for its vacation ownership subsidiary, Vistana, Inc., which was acquired in October, 1999 to establish an immediate presence in the growing vacation ownership market. Plans are in place to brand current and new resorts under the Sheraton and Westin flags. In addition, the vacation ownership subsidiary will be renamed Starwood Vacation Ownership, Inc. to further capitalize on the synergies between Starwood and its vacation ownership division.

Five of Vistana's new and existing resorts will be renamed to launch the Sheraton Vacation Ownership Resort brand including the following:

  • Sheraton's PGA Vacation Resort, Port St. Lucie, Florida
  • Sheraton's Vistana Resort, Orlando, Florida
  • Sheraton's Vistana Villages, Orlando, Florida
  • Sheraton's Vistana Resort at World Golf Village, St. Augustine, Florida
  • Sheraton's Mountain Vista, Avon, Colorado

Starwood is currently the second largest vacation ownership developer among the major hospitality companies with nearly 100,000 owners and one dozen resorts. Starwood plans to add to its portfolio of Westin-branded vacation ownership properties by developing resorts at the Westin Mission Hills and in Hawaii and Arizona. The first Westin-branded vacation ownership resort is the Westin St. John in the U.S.V.I. The Company is also in the planning stages for vacation ownership at The Phoenician in Arizona.

"The Westin and Sheraton family of brands are some of the most recognizable and respected in the hospitality industry and we are eager to leverage the equity of these brands in the emerging vacation ownership market. By capitalizing on the synergies between the vacation ownership division and the hotel divisions, we can enhance Starwood's market share in the overall leisure industry," said Raymond L. "Rip" Gellein, Jr., chairman and co-chief executive officer of Starwood Vacation Ownership, Inc.

Starwood's vacation ownership subsidiary recently began construction and presales on a joint venture with Sun International SIH, the Harborside Resort at Atlantis in The Bahamas. This high-end resort is located adjacent to the world-class Atlantis Resort and will feature 198 villas overlooking the new Marina.

Starwood Vacation Ownership, Inc continues to expand at existing resorts and recently welcomed its first guests at the new PGA Vacation Resort in Port St. Lucie, Florida. Construction of new units continues at its properties in Scottsdale, Orlando and Myrtle Beach. Starwood Vacation Ownership's newest resort, Sheraton's Mountain Vista, at the base of Beaver Creek Mountain, is now under construction and in presales. And, Sheraton's Vistana Villages, the successor to the subsidiary's flagship property in Orlando, will open next month.

Starwood Hotels & Resorts Worldwide, Inc., through its St. Regis, Luxury Collection, Westin, Sheraton, Four Points and W brands, is one of the leading hotel and leisure companies in the world with more than 700 hotels in 80 countries and 120,000 employees at its owned and managed properties. Headquartered in Orlando, Florida, Starwood Vacation Ownership, Inc., operates eleven vacation ownership resorts, five in Florida, two in Colorado, one in South Carolina, one in the U.S. Virgin Islands and two in Arizona.