Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announces the official groundbreaking of The Atlantic Hotel Condominium in Fort Lauderdale, Florida, one of the newest members of Starwood`s prestigious Luxury Collection portfolio of hotels and resorts.

The 15-story tiered oceanfront tower will feature 124 elegantly appointed suites, stunning views of the ocean, European Spa and Fitness Center and five-star services and amenities. The Atlantic will also boast a distinctive signature restaurant and bar, destined to become one of Fort Lauderdale`s newest hot spots. The property is owned by Luxury Resorts International and will be managed by Starwood as an exclusive Luxury Collection property, joining some of the word`s finest hotels and resorts around the world like the Phoenician in Scottsdale and the Gritti Palace in Venice.

“Starwood`s exclusive Luxury Collection is known for its impeccable attention to detail and the kind of personal attention and service guests expect from a world-class luxury hotel,” said Geoffrey A. Ballotti, executive vice president, hotel operations for Starwood. “Condominium owners of The Atlantic will enjoy a level of comfort, facilities and service that exceeds their every expectation, while the hotel and its owners benefit from Starwood`s industry-leading global sales, frequency, internet and reservation distribution systems. We will offer affluent travelers the rare opportunity to experience the ultimate in luxury on the Atlantic, at The Atlantic.”

The sweeping 15-story masterpiece, uniquely designed to reflect the look of an Italian Renaissance villa, was designed by famed architect Oscar I. Garcia. Floor plans range from 560 to 3,500 square feet, from studio suites to penthouses. Ninety percent of the residences feature ocean and Intercoastal views. Already more than 80% sold, completion on the project is scheduled for spring of 2004.

“By joining this very special collection, The Atlantic will be managed by one of the most respected hotel brands around the globe,” said Daniel J. Melk, chairman of Luxury Resorts International. “Whether one travels for business or pleasure, The Atlantic`s location overlooking the ocean is ideal,” Melk added. “These beautifully furnished suites make perfect second homes on the east coast of the United States. Catering to the needs of high-end leisure and corporate travelers, The Atlantic also make good sense as corporate residences for use by CEOs and top management during their travels.”

The Atlantic joins The Luxury Collection`s exclusive portfolio of 75 properties throughout 26 countries including Princeville Resort on the island of Kauai; Hawaii; The Palace Hotel in San Francisco; Hotel Danieli in Venice, Italy and the newest and most luxurious hotel in French Polynesia, the Bora Bora Nui Resort & Spa. Luxury Collection properties are among the leading hotels in the industry and are at the forefront of providing the highest quality and service, distinguished by magnificent decor, spectacular settings and the latest in modern conveniences and amenities.

The Atlantic is located at 601 North Fort Lauderdale Beach Boulevard (A1A at Terramar Street) in Fort Lauderdale. The on-site sales center is open Monday to Friday from 10 a.m. to 6 p.m, and Saturday and Sunday from 11 a.m. to 5 p.m. For further information, or to make a personal appointment, call 954-630-1999 or on line at www.atlantichotelcondo.com.

Starwood Hotels & Resorts Worldwide, Inc. 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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