Starwood Hotels & Resorts expands footprint in Saudi Arabia with a new Le Meridien Hotel in Riyadh

Scheduled to Debut in 2016, Le Méridien Riyadh will be the First New Build Le Méridien Hotel in Saudi Arabia Since the Brand was Acquired by Starwood

RIYADH, Saudi Arabia - July 1 2013 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) has signed an agreement with Al Jazeerah Al Oula Real Estate Co, an entity managed by Kuwait's leading financial institution, First Investment Company, to debut the company's Le Méridien brand in Riyadh. Set to open in 2016, Le Méridien Riyadh will be the first new build Le Méridien to open in Saudi Arabia since the brand was acquired by Starwood in 2005. With this signing, Starwood continues its aggressive growth throughout Saudi Arabia where it currently operates 10 hotels, with another nine under development, and is the second largest market for the company in the Middle East behind the UAE.

"We are delighted to work with Al Jazeerah Al Oula Real Estate Co. as we debut our Le Méridien brand in Riyadh," said Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East. "Over the past seven years, Starwood has made significant investments in developing Le Méridien as a contemporary lifestyle brand focused on bringing destinations to life through cuisine, the arts and local culture. We believe Le Méridien Riyadh will offer a compelling experience in the capital, which has become a leading business destination in the Middle East."

"We are excited to work with Starwood to bring its Le Méridien brand into Riyadh," said Tariq Al Adsani, Deputy CEO of First Investment Company and Manager of Al Jazeerah Al Oula Real Estate Co. "We believe a world-class brand like Le Méridien with its unique and contemporary approach will make the hotel a popular destination for both business travelers and the local community."

Le Méridien Riyadh
The 15-storey hotel will feature 219 guest rooms and 12 suites all with the Le Méridien Bed^Ò, as well as three restaurants. Le Méridien Riyadh will offer nearly 7,000 square feet of extensive meeting and event space to cater to the growing number of business travelers into the capital. Leisure facilities will include a spa with four treatment rooms, an outdoor pool and a fitness center.

Le Méridien Riyadh will offer the brand's award-winning "Arrival" experience, curated by LM100^TM members - a group of international creators of mixed generations and interdisciplinary artistic fields like architecture, cuisines, design and art. The hotel will feature the Le Méridien Hub concept, which re-interprets the traditional lobby into a social gathering place for creative people to converse, debate and exchange, providing both guests and locals with a creative atmosphere where contemporary, curated artwork sets the environment.

The hotel is located in the heart of Riyadh, at the intersection of Al Olaya Road and King Abdullah Road and is in close proximity to the city's main business district and the King Khaled International Airport.

Starwood in the Middle East and Saudi Arabia
"Le Méridien is our largest brand in Saudi Arabia and we continue to see opportunities to grow the brand in the country," said Bart Carnahan, Senior Vice President Acquisitions & Development, Starwood Hotels & Resorts, Europe, Africa and Middle East. "Today, our Le Méridien portfolio is the strongest it has ever been and the brand is poised for expansive growth around the world."

Starwood currently operates 10 hotels in Saudi Arabia under its Sheraton and Le Méridien brands and recently opened the Four Points by Sheraton Riyadh Khaldia, marking the debut of the mid-market brand in the country. Later this year, the company will open two hotels in Medina - the Sheraton Medina Hotel and Four Points by Sheraton Medina Hotel. With its current development pipeline, Starwood expects to add more than 3,000 rooms to its portfolio in the country.

In the Middle East, Starwood operates close to 50 hotels and resorts under eight of the company's nine distinct lifestyle brands including: The Luxury Collection, St. Regis, Sheraton, Westin, W Hotels, Le Méridien, Four Points by Sheraton and Aloft.

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About Le Méridien Hotels & Resorts
Le Méridien, the Paris-born hotel brand currently represented by nearly 100 properties in more than 40 countries, was acquired by Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) in November 2005. With more than 80 of its properties located in Europe, Africa, the Middle East, and Asia-Pacific, Le Méridien provided a strong international complement to Starwood's then primarily North American holdings at the time of purchase. Since then, Le Méridien has gone through a brand re-launch, which included a large scale hotels product consolidation as well as redefining its brand strategy. Through creation of the LM100 artist community, Le Méridien has transformed numerous guest touch points, thus bringing unique, interactive and curated experiences to its guests. Plans call for dynamic expansion of Le Méridien Hotels and Resorts within the next five years, concentrating on markets in Asia-Pacific and the Americas. Le Méridien recently opened new hotels in Bali, Atlanta, Dallas, Istanbul, Oran (Algeria), Arlington (Virginia, USA), and Coimbatore (India), and will open in the next 12 months in Chicago, Zhengzhou (China), Mahabaleshwar (India), Ho Chi Minh City (Vietnam), Cairo (Egypt), Qingdao (China), Dhaka (Bangladesh), Tampa (Florida, USA) and Columbus (Ohio, USA). For more information, please visit www.lemeridien.com or www.facebook.com/lemeridien.

First Investment Company
First Investment Company is a leading investment bank in Kuwait quoted in the Kuwait Stock Exchange. First Investment Company has investments through the GCC primarily in real estate related activities, with a special focus in the Kingdom of Saudi Arabia.

Press Contact:
Chandan Belani
Starwood Hotels and Resorts, Europe, Africa & Middle-East
Mob: +971 50 506 8465
chandan.belani@starwoodhotels.com