Starwood Capital Group and Barry Sternlicht Unveil Groundbreaking New Hotel Concept: '1' Hotel

First Five Star, Environmentally Friendly Hospitality Brand Will

Demonstrate That Style and Luxury can be Delivered With Ecologically

Sustainable Consciousness

First Five Hotels to Debut in Paris, France; Seattle, WA; Scottsdale, AZ;

Mammoth Lakes, CA; Ft. Lauderdale, FL

Starwood to Form Exclusive Joint Venture With Steve Hanson and BR Guest to

Deliver Unique Dining Concepts for '1'

Oct 18, 2006, 01:00 ET from Starwood Capital Group Global LLC

    GREENWICH, Conn., Oct. 18 /PRNewswire/ -- Starwood Capital Group, led
 by Barry Sternlicht, announced today the launching of "1" Hotel and
 Residences, the first luxury, eco-friendly global hotel brand. The concept
 will combine the best of environmentally sustainable architecture and
 interior design with impeccable service and luxurious comfort. "1" will
 adhere to green construction and operating principles and commit to
 environmentally sensitive consumption of natural resources. "1" will
 demonstrate that green principles can coexist and enhance a luxury
 hospitality experience and healthy residential lifestyle. The Natural
 Resources Defense Council (NRDC) has agreed to be an environmental advisor
 on "1" with the initial goal of setting a new standard for environmental
 excellence and, over time, to transform the entire hotel industry.
     "We are incredibly excited to be able to bring a whole new concept to
 the hospitality industry with the launch of the "1" brand. As a CEO and
 parent of three young children, I have grown acutely aware of the personal
 responsibility we each have to help preserve and protect our planet, which
 can only happen through the accumulation of small efforts by millions of
 individuals. It is the perfect time for "1". With such critical issues
 facing us as foreign energy dependence and global warming, we cannot afford
 to ignore the growing consumption of our natural resources and the
 inability to sustain our enterprises," said Mr. Sternlicht.
     "While some hotel brands pay lip service to the environment by asking
 guests to reuse towels, and adding plants to a lobby, "1" is not using
 eco-friendly jargon simply as a marketing tool. Our intention with "1" is
 to build hotels and residences that are truly green and minimize their
 impact on their environment. We are excited about our partnership with the
 NRDC. Each property will donate one percent of its revenue to local
 environmental organizations guided by a steering committee with NRDC
 representation. All of our buildings will be built to LEED standards and
 all of our interiors will be LEED-compliant," continued Mr. Sternlicht.
     "1" will be about light and air. "1" will be fresh, invigorating and an
 alternative way of traveling and living. Guests and residents will not
 necessarily be conscious of all of the green aspects at "1," but they will
 be delighted by the richness, beauty and variety of colors, textures and
 materials. The green theme will only be noticeable to the extent that it
 will help create a healthy and invigorating environment. Enhancing this
 experience, we are thrilled to announce a new exclusive partnership with
 Stephen Hanson, perhaps the premier multi-site restaurant operator in the
 United States. Steve's team at BR Guest will power the dining, banqueting
 and room service experiences at each of the "1" properties," Mr. Sternlicht
     The initial four properties in the United States will all be new
 construction. The first hotel will be the "1" Hotel and Residences Seattle
 expected to open in late 2008. Following Seattle, "1" will open in the ski
 resort of Mammoth Mountain, California; in Scottsdale, Arizona; and in Ft.
 Lauderdale, Florida. The first international "1" hotel will be located in
 Paris, France and will be a renovation of a historic property. In addition,
 we expect "1" to enter New York, Los Angeles, Washington, D.C. and other
 major urban markets, as well as premier resort destinations, within the
 next 12 months. The aim will be to have 15 hotels signed or under
 construction within 24 months. The five hotels are owned by controlled
 affiliates of Starwood Capital Group Global, LLC.
     The development of "1" is being guided by an exemplary advisory Board
 which includes, among others, Prosper Assouline, Founder and Creative
 Director of Assouline, Sandra J. Brant, President and CEO of Brant
 Publications, Inc., Kevin Huvane, Managing Partner, Creative Artists Agency
 and Candy Pratts- Price, Executive Fashion Director of "I have
 been working with this Advisory Board for quite some time. They bring
 unique insight and vision to modern-day brand building and are equally
 committed to the preservation of our environment," said Mr. Sternlicht.
     The NRDC strives to help create a new way of life for humankind, one
 that can be sustained indefinitely without fouling or depleting the
 resources that support all life on Earth. For more than three decades, NRDC
 has fought successfully to defend wilderness and wildlife and to protect
 clean air, clean water and a healthy environment. "NRDC looks forward to
 working with the creators of "1" to help create exemplar environmental
 projects that can be models for the entire hotel industry," said Ashok
 Gupta, an energy expert with NRDC.
     Each new "1" will be built to LEED standards. The Leadership in Energy
 and Environmental Design (LEED) Green Building Rating System(TM), created
 by the U.S. Green Building Council, is the nationally accepted benchmark
 for the design, construction and operation of high performance green
 buildings. LEED promotes a whole-building approach to sustainability by
 recognizing performance in five key areas of human and environmental
 health: sustainable site development, water savings, energy efficiency,
 materials selection, and indoor environmental quality.
     Also important to the brand's identity will be its unique operating
 model. Each operating unit of hotel properties will be managed by industry
 leaders. Mr. Hanson's restaurant company, BR Guest, will provide an
 innovative restaurant, banqueting and room service program. "I'm thrilled
 to be a partner on the "1" concept, as it mirrors many of our values such
 as environmental stewardship and supporting local farmers," said Mr.
 Hanson. "We will seek the premier local chefs who understand and support
 our mission. Barry Sternlicht is a great visionary, one that I've worked
 with for more than five years, and there is no one I'd rather be partners
 with in this exciting venture."
     The spas at "1" will also be managed by a world-class operator and will
 be an extension of the brand experience featuring unique treatments and
 programs for the revitalization of body and soul. Additionally, a new
 concierge concept with unparalleled personalization will ensure all that is
 needed, and most of what can be imagined, will be provided effortlessly.
 Each "1" will also include a state-of-the-art fitness center as well as
 several other components to be announced in the near future.
     Barry Sternlicht is widely known for revolutionizing the hospitality
 industry during his tenure as Chairman & CEO of Starwood Hotels and
 Resorts. He is credited with innovations such as his creation of W Hotels
 brand, the repositioning and revitalization of Westin Hotels & Resorts (led
 by innovations such as the Westin Heavenly Bed, and Heavenly Bath) and the
 brand development of the St. Regis Hotels which started with a single hotel
 as well as the creation of the award-winning Starwood Preferred Guest
 frequent stay program.
     Starwood Capital Group Global LLC has been a leader in real estate
 investments since its inception in 1991. Its international investor base
 includes some of the United States' largest state and corporate pension
 funds, endowments and foundations, and high-net worth families. During the
 past fifteen years, Starwood Capital and its affiliates have invested
 approximately $5.8 billion of equity capital in transactions totaling more
 than $25 billion. Starwood has closed and/or advised on more than 215
 transactions, acquiring equity interests in thousands of residential lots,
 multifamily and condominium units, hotels, office, retail, industrial, and
 golf and leisure-related properties. Starwood Capital's most recent
 transactions include the $3.2 billion acquisition of Groupe Taittinger and
 Societe du Louvre, (Europe's second-largest hotel network which owns and
 operates a unique collection of 14 luxury hotels in France, Switzerland and
 Europe in addition to the more than 800 budget hotels under four flags
 located throughout Europe); and the $973 million acquisition of the Le
 Meridien hotel portfolio comprised of 32 luxury hotels located primarily in
 Europe, North America, Africa and South America. Starwood Capital has led
 the formation and growth of several successful companies including iStar
 Financial, the leading publicly traded finance company specializing in
 commercial real estate mortgage, mezzanine and net lease financing;
 Starwood Hotels & Resorts Worldwide, a leading global owner/operator of
 hotels, with ownership of brands such as Sheraton, Westin, The St. Regis
 Luxury Collection and "W"; and National Golf Properties/American Golf
 Corporation, the largest owner/operator of golf courses in the United

SOURCE Starwood Capital Group Global LLC