WHITE PLAINS, N.Y., Feb 7, 2003 (BUSINESS WIRE)—The prestigious Our Lucaya Beach & Golf Resort on Grand Bahama Island officially joins the world`s leading portfolio of resorts of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) under its Sheraton and Westin flags today.

The three distinct areas of the resort complex are now The Westin at Our Lucaya Beach & Golf Resort and Sheraton at Our Lucaya Beach & Golf Resort. After a significant upgrade, the resort is now appointed with not only new brand flags, but the signature products and services these brands bring including Westin`s famous Heavenly Beds(R) and Heavenly Baths (R) and Sheraton`s Sweet Sleeper(sm) Beds, as well as upgraded services and amenities. The sprawling 372-acre, 1,260-room resort complex features two championship 18-hole golf courses, expansive spa and fitness center, 14 themed restaurants and lounges, flanked by seven and a half acres of pristine white sand and sparkling water. The property is owned by the Hutchison Whampoa Group of Hong Kong and managed by Starwood.

“We are thrilled to bring the globally acclaimed Westin and Sheraton brands to Grand Bahama Island,” said Geoff Ballotti, executive vice president, hotel operations for Starwood. “We are very proud to be managing this magnificent resort complex and offer the excellent quality of service and standards of Westin and Sheraton to guests of the resort.”

Harris Chan, the new managing director and general manager for the Westin and Sheraton at Our Lucaya said, “The exotic island setting and luxurious resort facilities have made Our Lucaya one of the Bahamas` most distinctive resorts. All of the resort`s managers and associates are delighted to join the Starwood family and we look forward to working together with our travel partners to make Our Lucaya a top choice in the Caribbean by travelers from the U.S. and Canada and other international visitors.”

Following an investment of more than $400 million, the resort opened in December 2000 and is the most comprehensive resort complex on Grand Bahama Island. The three hotel wings within the resort complex are Lighthouse Pointe, Breakers Cay and Reef Village each with spectacular views of tropical gardens, yacht-filled Port Lucaya Marina, Bell Channel waterway or the snow-white sandy beach.

Lighthouse Pointe and Breakers Cay, now flagged The Westin at Our Lucaya, have a total of 749 rooms. The intimate, tranquil Lighthouse Pointe features more than 222 rooms, including 22 elegantly furnished Lanai Suites with direct beach access. Breakers Cay, a luxurious 10-story high-rise offers 527 rooms with 81 Westin Executive Club rooms with an exclusive Club Lounge, each with balconies and views of the pool, gardens, ocean or Grand Lawn. All guest rooms are outfitted with Westin`s signature Heavenly Bed(R) and Heavenly Bath(R). Guests will enjoy the brand`s outstanding array of signature services that today`s affluent, professional business and leisure travelers have come to expect from Westin.

The 511-room Reef Village is flying the Sheraton flag. Catering to the needs of families, the Sheraton at Our Lucaya features 12 suites with living area, furnished balconies and efficiency kitchens. Within Reef Village is the themed Sugar Mill Pool with waterslides and waterfalls for both adults and children to enjoy. Guests will enjoy Sheraton`s newly introduced Sheraton Sweet Sleeper(sm) Bed and all of the upscale amenities and services associated with the Sheraton brand.

As a perfect location for business or pleasure, the resort complex is located adjacent to Port Lucaya on Grand Bahama Island, a brief 35 minute flight from Miami and only a 2 hour and 15 minute direct flight from New York`s LaGuardia Airport. The resort complex offers an outstanding and diverse selection of entertainment venues. Within walking distance is an adjacent casino, set to open in Spring 2003, and more than 90 sophisticated shops, local restaurants and nightclubs. Guests of both the Westin and Sheraton will have access to all of the amenities of the resort complex including a 10,350 square-foot spa and fitness center; the resort`s golf and tennis facilities, four pools featuring swim-up bars and an infinity pool; a vast array of water sports activity areas and a children`s camp.

The resort`s golf offerings stand out as among the best. The 18- hole Lucayan Course, designed by Dick Wilson is known for its tight fairways and emphasis on precision. Designed by Robert Trent Jones, The Reef Course boasts 18-holes of wide fairways and combines the best of island golf with traditional course design.

With 90,000 square feet of indoor and outdoor flexible meeting space, the resort is an ideal location for corporate groups. The Manor House, an authentically designed colonial-style house, offers a unique venue for conferences and business gatherings with direct access to elegant Lanai Suites on the beach. Additionally, there is a 40,000 square-foot conference center with a 15,000 square foot ballroom, 16 meeting rooms and approximately 50,000 square feet of outdoor meeting space.

Guests who stay at The Westin at Our Lucaya and the Sheraton at Our Lucaya will be able to earn their way toward free travel through the Starwood Preferred Guest(R) program, consistently rated the best hotel frequency program in the world. With more than 700 participating hotels and resorts around the world, the program is the industry`s most global and offers a structure focused on simplicity, flexibility in redemption options and inclusion of all Starwood`s brands.

Starwood is one of the leading hotel and leisure companies in the world with more than 750 properties in more than 80 countries and 110,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchisor 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. For more information, please visit www.starwood.com

** 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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