Miami’s Highly Anticipated Oceanfront Resort and Residences Celebrates Topping Off

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) proudly announces that in less than 24 months since the implosion of the landmark Sheraton Bal Harbour, The St. Regis Bal Harbour Resort has completed vertical construction for all three of its 27-story towers. This is an impressive accomplishment and significant milestone in the development of what some industry experts estimate to be the largest, active residential-resort project in the Southeast United States.

Scheduled for completion in 2011, the luxury oceanfront resort and residences located directly across from the famous Bal Harbour Shops, has made a significant contribution to the Florida coastline. Setting a new standard for luxury living in South Florida, current plans for The St. Regis Bal Harbour Resort and The Residences at The St. Regis Bal Harbour Resort include 205 elegantly appointed guest rooms, 270 private residences, 37 hotel condominium suites, a 12,000 square foot Remede Spa, signature oceanfront restaurant, St. Regis wine bar, state-of-the-art meeting and event space, and secluded beachfront access across approximately nine acres of lush landscaping. Each residence and guest room boasts floor-to-ceiling windows and the residences feature expansive balconies measuring from 440 to more than 1,380 square feet to provide unparalleled views of the Atlantic Ocean and Biscayne Bay. With interior design by world renowned firm Yabu Pushelburg, The St. Regis Bal Harbour Resort will offer guests and residents modern sophistication, unparalleled luxury and bespoke service at one the best addresses in the world.

Following in the tradition of the iconic The St. Regis New York, The St. Regis Bal Harbour Resort will feature the famed hallmarks of St. Regis hotels including the legendary St. Regis Butler Service, bespoke guest experiences and luxury accommodations tailored to meet global travelers’ needs. Trained in the English tradition, the butlers provide ever-present, yet unobtrusive service while anticipating guests’ needs and customizing each guest’s stay according to his or her specific tastes and preferences.

“Pinnacle properties like The St. Regis Bal Harbour Resort stand apart from other luxury resort communities or developments because they represent the best of everything, within the resort, the residences themselves and the surrounding community,” states John Manrique, Vice President of Sales & Marketing for The Residences at The St. Regis Bal Harbour Resort. He adds, “This is an unparalleled location, and our continuing progress and achievements such as topping-off have further fueled the sales interest and activity we are enjoying in 2010, as Clients seek to secure the best of our remaining residences.”

“We are extremely pleased with the progress made to date,” states Keith Fordsman, Vice President of Development for The St. Regis Resort Bal Harbour Resort, “and credit much of our success to a renowned global brand and talented development team. We are currently working with our future residents on their interior finish selections and design plans, and it is rewarding to see the excitement and enthusiasm they share with us for what will certainly be a major landmark.”

Located on more than 600 lineal feet of pristine beachfront, The St. Regis Bal Harbour Resort features private St. Regis residences ranging from one to four bedrooms comprised of 1,777 to 6,868 square feet and offer residents access to resort’s exclusive hotel services and amenities such as the St. Regis legendary Butler Service, access the resort’s signature Remede spa, pre-arrival grocery shopping, in-residence dining, private chauffeured transportation, housekeeping, and in-residence pet services. Residences are offered from $1.9 million, more information is available by calling 305.993.6000 or visiting online at www.StRegisBalHarbour.com.

The St. Regis Bal Harbour Resort will join a select portfolio of St. Regis hotels in the best addresses around the world including Aspen, Atlanta, Bali, Beijing, Bora Bora, Deer Crest, Houston, London, Monarch Beach, Mexico City, New York, Punta Mita, Rome, San Francisco, Shanghai, Singapore and Washington, D.C.

About St. Regis Hotels & Resorts
Combining classic sophistication and modern luxury, the St. Regis brand remains faithful to its commitment to excellence. Founded by John Jacob Astor IV, with the opening of the first St. Regis Hotel in New York City over a century ago, The St. Regis brand of hotels is known for its unique luxury dimension, customized service and refined elegance, in the best destinations worldwide. Plans for this brand to globally continue its legacy include long-awaited St. Regis properties in Bahia Beach, Puerto Rico, and Bal Harbour in the US and on the exclusive island of Bermuda. In Latin America, St. Regis will unveil new hotels and resorts in Buenos Aires and Kanai Riviera. In Asia, St. Regis has also announced plans to open properties in Bangkok, Chengdu, Kuala Lumpur, Lhasa, Nanjing, Osaka, Sanya Yalong Bay and Tianjin. In Africa and the Middle East, the St. Regis brand will continue to expand in Abu Dhabi, Cairo, Doha and Mauritius. The distinctive trait of the St. Regis experience is customized service and attention, coveted locations and luxurious design. For more information on The St. Regis Hotels & Resorts, please visit the new www.stregis.com.

About The St. Regis Bal Harbour Resort
The St. Regis Bal Harbour Resort is located on Collins Avenue at the northern tip of Miami Beach. Current design plans include 270 ultra-luxurious residences, 37 condo-hotel suites, and 205 hotel rooms. Highlights include signature butler service, a 12,000-square-foot Remède(R) Spa and serene gardens with multiple pools, water features and sculptures. The St. Regis Bal Harbour Resort’s Sales Gallery is located at 1170 Kane Concourse, Suite 100, Bay Harbor Islands, FL 33154. Residences are offered from $1.9 million, more information is available by calling 305.993.6000 or visiting online at www.StRegisBalHarbour.com.

As is customary for the American Resort Association’s annual autumn event, the focus of the three-day event was on legislative issues. Fall ARDA, held this past November 4 through 6 at the Fairmont Hotel in Washington, D.C.

Key industry leaders addressed the Board of Directors in their meeting held at the Fairmont Hotel in Washington, DC.

Opening Keynote
Former Senator John E. Sununu (R-NH) cut a unique path from the private sector to public office, serving three terms in the U.S. House of Representatives and for six years as the youngest member of the U.S. Senate. Before entering public service, Sununu worked for emerging high-tech firms as an engineer, strategy consultant, and a chief financial officer. In Congress, he put his expertise to work for the nation, serving on such Senate committees as Commerce, Finance, Banking, and Foreign Relations.

Well respected by Republicans and Democrats alike, Sununu offered a sharp perspective for ARDA attendees, addressing such key issues as the state of the economy and details on recovery and elements of growth; inside details on TARP (he served as one of five panel members responsible for oversight of TARP funds); and pressing legislation in Congress.

Board Initiatives
The ARDA Board meeting of Directors presented a new initiative between the U.S. Travel Association and American Express, which will offer an auction website that allows ARDA developers an opportunity to promote their inventory, with proceeds benefiting travel industry advocacy efforts; an overview of ARDA’s new “Lender Opportunities” presentation available to members to help educate lenders about the industry; and the latest numbers from the 2009 Second Quarter Pulse Survey of Timeshare and Vacation Ownership Resort Companies, which was prepared by Deloitte & Touche for the ARDA International Foundation.

The ARDA Fall Conference is a great opportunity for members to meet and do business in more of a small-group setting.

At the Legislative Luncheon, special guest speaker Congressman Scott Murphy, who represents the 20th District of New York in the U.S. House of Representatives, addressed questions from ARDA members on such issues as health care and the economy.

His business background makes him well-spoken on topics of today’s entrepreneurs and developers, as he himself has grown numerous small businesses and tackled organizational challenges. After graduating from Harvard, Congressman Murphy became a high-tech entrepreneur, and for eight years prior to congressional election, he worked for Advantage Capital Partners. He now sits on the House Committee on Agriculture and the House Committee on Armed Services.

Another key session was “Lessons Learned from the Money Chase,” with panelists Bruce Thompson (CEO, Gold Key Resorts), Don Harrill, RRP (President/CEO, Holiday Inn Club Vacations), William Ryczek (Principal, Colebrook Financial Company), Rip Gellein, RRP (Chairman Emeritus, Starwood Vacation Ownership) and Jon Fredricks, RRP (President, Welk Resorts). ARDA President/CEO Howard Nusbaum moderated, asking panelists to compare and contrast the lending environment before and after September 2008. They also discussed what non-traditional sources of equity and credit are currently available.

ARDA Trustees and guests enjoyed a fine cocktail hour and dinner on the Potomac River at the House of Sweden on the first night of the conference.

Chairman’s League Breakfast
The conference closed with former White House press secretary Dana Perino keynoting the morning session honoring Chairman’s League Members. Perino shared her “inside the White House” viewpoint and also provided insight into the current political climate. As only the second female press secretary in U.S. history and one of the most widely respected members of President George W. Bush’s senior staff, she has learned the essentials of crafting and communicating key messages under stressful conditions. With a close-up view of the president and his inner circle, she offered a good perspective on presidential politics, the federal government and the media.

More than nine out of ten active leisure travelers in the United States report they are familiar with the concept of timesharing, reinforcing the wide-spread belief that this form of vacationing has established itself as a recognized, understood, and increasingly popular alternative to more traditional lodging accommodations. And among those familiar with the concept, approximately 2.3 million households state they are interested in purchasing some form of vacation time during the next two years.

These findings are from Future Timeshare Buyers: 2009 Market Profile, which was developed from a nationally-representative sample of active leisure travelers who have expressed interest in acquiring some form of vacation time during the next two years, and supplemented through insights revealed in the Ypartnership/Yankelovich, Inc. 2009 National Leisure Travel MONITORsm.  The study was authored exclusively for Interval International, which is releasing the results during the American Resort Development Association’s (ARDA) 2009 Fall Conference, held in Washington, D.C.

“Given the economic environment during the past year and the effect it had on both the demography of those interested in purchasing vacation time and respondents’ interest in travel overall, the level of purchase interest revealed in this study is quite remarkable and underscores the high degree of interest consumers have in this form of vacationing,” said Peter C. Yesawich, chairman and chief executive officer of Ypartnership. “Particularly noteworthy is the fact there are an estimated 2.3 million households interested in purchasing vacation time during the next two years.”

Active leisure travelers who are interested in purchasing vacation time have taken an average of seven qualifying leisure trips during the past year and nearly four in ten (38%) state they are likely to take more leisure trips during the next 12 months (than they did during the last). Eight out of ten prospective purchasers took at least one leisure trip of five nights or more in duration, and a similar proportion find a naturalistic component (such as a beach or a lake) to be an important aspect of their leisure pursuits.

The study also revealed that active leisure travelers interested in purchasing vacation time have a solid understanding of the concept of timesharing and are receptive toward the vacation ownership product.  An estimated 85 percent have a positive or neutral opinion of timesharing, and more than three-quarters (77%) state that they would be willing to take a two- to three-day mini vacation to attend a timeshare sales presentation.  Furthermore, approximately six in ten (62%) report that they are likely to stay at a vacation ownership resort during the next two years.

“These findings provide valuable insights for resort developers to better understand the travel habits and preferences sought by leisure travelers,” said David C. Gilbert, executive vice president of resort sales and marketing for Interval International, a leading global provider of vacation services.  “Possessing an appreciation for how these potential purchasers travel and view the vacation ownership product enables them to fine tune marketing and lead generation programs aimed at these consumers.”

The data for this analysis were collected from interviews conducted online with a panel of pre-qualified active leisure travelers.  Respondents had taken at least one leisure trip of 75 miles or more from home requiring overnight accommodations during the previous year, were familiar with the concept of timesharing or vacation ownership, and expressed interest in acquiring some form of vacation time during the next two years.

Other Notable Findings:
•    The majority of active leisure travelers interested in purchasing vacation time are married (61%) with an annual household income of $50,000 or more (88%).
•    Nearly two-thirds are between 30 and 62 years of age, and nearly eight in ten have completed at least four years of college education (78%).
•    Approximately four in ten (35%) reside in the Midwestern region of the United States, while an estimated three in ten live in the Northeast (29%) or West (27%).

About Interval International
Interval International operates membership programs for vacation owners and provides value-added services to its developer clients worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 33 years. Today, Interval has a network of approximately 2,500 resorts in more than 75 countries and offers its resort clients and about 2 million member families high-quality products and programs through offices in 26 cities across 16 countries. Interval is an operating segment of Interval Leisure Group, Inc. (Nasdaq: IILG), a leading global provider of membership and leisure services to the vacation industry.

Date: 4-6 November 2009
Location: Fairmont Hotel, Washington DC, USA
Website: ARDA.org

More details to follow shortly…