DavidW
TUG Member
New publicity release:
Starwood Hotels & Resorts (ticker: HOT, exchange: New York Stock Exchange (.N)) News Release - 6/12/2006
Luxury Award-Winning Resort in the Caribbean to Become The Westin Aruba Resort & Spa; First Westin-Branded Resort and Starwood Vacation Ownership Planned for Aruba
WHITE PLAINS, N.Y., Jun 12, 2006 (BUSINESS WIRE) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and Belfonti Capital Partners announce an agreement to re-flag Belfonti's newly-acquired 478-room Aruba Resort Spa & Casino as The Westin Aruba Resort & Spa. The property will raise the Westin flag in late 2006 upon completion of a renovation to further enhance the property's AAA Four Diamond rating. The hotel also features the 12,000 square-foot Casablanca Casino, one of the Caribbean's premier gaming destinations. Belfonti, which owns the entire property, will manage the casino while Westin will manage the hotel under a long-term agreement.
In addition, Starwood Vacation Ownership, a division of Starwood, plans to launch the first Westin-branded vacation ownership resort on Aruba. This vacation ownership resort will be located on land adjacent to the hotel and plans call for 154 two-bedroom villas. Sales are scheduled to commence by early 2007.
"This property is a perfect fit for Westin's strategic Caribbean expansion," said Sue Brush, senior vice president, Westin Hotels & Resorts. "We are proud to bring Westin's signature personal renewal experience to this prime location on Aruba."
In 2005, 32 new Westin projects were executed, and 12 additional projects were executed in the first quarter of 2006. Starwood has signed a record number of new hotels deals and continues to win more new upscale, upper upscale and luxury projects than its competitors.
"We selected Starwood Hotels & Resorts to manage this resort for their reputation as the world's premier resort operator, well known management skills and tradition of superior service," said Michael Belfonti, chairman of Belfonti Capital
Starwood Hotels & Resorts (ticker: HOT, exchange: New York Stock Exchange (.N)) News Release - 6/12/2006
Luxury Award-Winning Resort in the Caribbean to Become The Westin Aruba Resort & Spa; First Westin-Branded Resort and Starwood Vacation Ownership Planned for Aruba
WHITE PLAINS, N.Y., Jun 12, 2006 (BUSINESS WIRE) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and Belfonti Capital Partners announce an agreement to re-flag Belfonti's newly-acquired 478-room Aruba Resort Spa & Casino as The Westin Aruba Resort & Spa. The property will raise the Westin flag in late 2006 upon completion of a renovation to further enhance the property's AAA Four Diamond rating. The hotel also features the 12,000 square-foot Casablanca Casino, one of the Caribbean's premier gaming destinations. Belfonti, which owns the entire property, will manage the casino while Westin will manage the hotel under a long-term agreement.
In addition, Starwood Vacation Ownership, a division of Starwood, plans to launch the first Westin-branded vacation ownership resort on Aruba. This vacation ownership resort will be located on land adjacent to the hotel and plans call for 154 two-bedroom villas. Sales are scheduled to commence by early 2007.
"This property is a perfect fit for Westin's strategic Caribbean expansion," said Sue Brush, senior vice president, Westin Hotels & Resorts. "We are proud to bring Westin's signature personal renewal experience to this prime location on Aruba."
In 2005, 32 new Westin projects were executed, and 12 additional projects were executed in the first quarter of 2006. Starwood has signed a record number of new hotels deals and continues to win more new upscale, upper upscale and luxury projects than its competitors.
"We selected Starwood Hotels & Resorts to manage this resort for their reputation as the world's premier resort operator, well known management skills and tradition of superior service," said Michael Belfonti, chairman of Belfonti Capital
