New Sheraton Takes Shape in North Orlando

Maitland Hotel to Open Under Sheraton Flag – Better Than New After Extensive Renovation
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announces a luxurious new hotel rising in the Maitland Center that will be flagged as a Sheraton, the upscale and most global brand of Starwood under a long-term license agreement. Formerly an independent hotel, the completely renovated Sheraton Orlando North is slated to open summer ’06 and promises to be North Orlando’s premier, upscale conference and lodging facility.

Situated in the Maitland Center corporate park, the new 390-room Sheraton is located at 600 N. Lake Destiny Drive and is in close proximity to downtown Orlando and is convenient to the Orlando International Airport and major Orlando theme parks, shopping malls, restaurants and golf courses. The hotel is owned in partnership with Philadelphia-based AMC Delancey Group, Inc., and Paramount Hotel Group, LLC, based in Fairfield, N.J. Paramount will also operate the property.

“We are thrilled to be adding this outstanding new property to our Sheraton portfolio,” said Joe Gelchion, senior vice president, Sheraton Hotels & Resorts Worldwide. “Along with its classic style and finishes, this hotel will feature the true warmth and comfort that is signature in all Sheratons.”

“The renovation and conversion of this strategically located North Orlando property enables us to maintain our commitment to superior accommodations,” said Peter Marino, senior vice president, Paramount Hotel Group. “We’re delighted that this hotel has joined the Sheraton family as one of its primary properties and look forward to providing guests with the company’s signature services and amenities.”

The Sheraton in Maitland Center will incorporate the original structure that was completely re-designed to establish itself as a new building featuring interiors by the Tischler Haus Design Group. The exterior will have a contemporary façade and roof-top obelisk that will stand out on the horizon. Guests will enjoy an all-new look, from the custom-design wall and floor materials to the upscale restaurant, richly appointed guestrooms and state-of-the-art spa.

Each of the newly-designed, spacious guestrooms and suites will feature dark mahogany and walnut furnishings; oversized desks, and large, flat-panel LCD televisions. Sheraton Sweet Sleepersm Beds will grace each guest room with its signature luxurious nine-layer custom designed bed that features an 115 inch thick, high coil count plush-top mattress, down and allergy sensitive pillows and crisp sheets.

The new Sheraton will have 15,000 square feet of flexible meeting space, accommodating groups of up to 900 people. A study in muted elegance, the 7,500-square-foot Grande Ballroom will welcome guests with its open space and soaring, 15-foot ceilings. A giant atrium will house a fountain flanked by a high-end restaurant and bar. Other amenities will include state-of-the-art business center; Concierge Floor with private lounge; fitness center with the latest equipment; 2,500-square-foot, full-service spa; game room, and outdoor pool with fountains, Jacuzzi, a water curtain and more.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood(R) Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), Sheraton(R), Westin(R), Four Points(R) by Sheraton, W(R), Le Méridien(R) and the recently announced AloftSM.

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 visit http://www.starwoodhotels.com/.

About AMC Delancey and Paramount Hotel Group

AMC Delancey and Paramount Hotel Group have built an impressive track record as partners. Their joint venture acquisitions include the Radisson Hotel Jacksonville Butler Boulevard and the new Radisson Hotel, Largo, Maryland/Washington DC. Paramount Hotel Group, founded in 1999, is a premier hotel management and development company. As an independent operator, the Fairfield, New Jersey-based company has successfully managed hotels under every major brand, including Marriott, Hilton, Radisson, Sheraton, Crown Plaza, Holiday Inn, Ramada and Howard Johnson. For more information, visit http://www.paramounthotelgroup.com/. Based in Philadelphia, AMC Delancey Group, Inc., is a leading real estate investment and development firm that co-invests with a growing number of real estate operating partners throughout the U.S. The company’s current investment programs include hotel, office, retail, multi-family, condominium, mixed-use, and land development. More information is available at http://www.amcdelancey.com/.

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