Starwood to Develop St. Regis Resort & Residences, Bal Harbour

Starwood to Develop St. Regis Resort & Residences, Bal Harbour
5/1/2007 11:39:41 AM

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced the Sheraton Bal Harbour will close in July in order to begin construction on the St. Regis Resort & Residences, Bal Harbour, a five-star resort hotel and condominium. The exclusive, mixed-use property will feature a new St. Regis Hotel, whole ownership St. Regis Residences, fractional ownership through the St. Regis Residence Club, and a 17,000 square foot Remède ® spa. “We are excited to expand our offering in the luxury tier with the St. Regis Resort & Residences, Bal Harbour,” said Sergio Rivera, president, real estate development, Starwood Hotels & Resorts Worldwide, Inc. “The mixed-use resort will feature multiple ownership options, renowned St. Regis Butler Service and an array of amenities and services expected in a luxury resort such as this. We launched pre-construction sales on the whole ownership condominiums last year and are extremely pleased with our results to date as consumers continue to express a high interest in the St. Regis Resort & Residences, Bal Harbour.”

The resort will feature three all-glass 27 story towers above nine acres of lushly landscaped gardens and 1,000 feet of pristine white sand on the edge of the Atlantic. Each tower will have its own private lobby entrances, security, valet and covered parking, as well as access to all anticipatory services provided by the St. Regis Hotel.

At completion, total construction will comprise 1.2 million square feet, including residential condominiums, condo-hotel units, fractional villas, and hotel rooms and suites. The resort will also feature a famed five-star restaurant, three pools, nine beach-front cabanas, and other world-class amenities.

The existing Sheraton Bal Harbour hotel will close in July for demolition to make way for the new five-star St. Regis hotel that will be the centerpiece of the resort. Whole ownership sales of the St. Regis Residences were launched in 2006, and fractional ownership sales of the St. Regis Residence Club, Bal Harbour, will commence in early 2008.

The St. Regis Butlers will offer guests and residents white-glove service, from 24-hour in-room dining to pet pampering, while the 17,000 square-foot Reméde Spa will provide the ultimate spa experience and a state-of-the-art fitness center. In addition to fine dining, everyday indulgences will also include childcare, and poolside, cabana and beach services. Unique to the St. Regis will be the serene gardens and sculptures with decorative fountains and pool features, as well as a premier selection of artwork by world-renowned artists.

The Sieger Suarez Architectural Partnership of Miami is designing the resort with interiors by Yabu Pushelberg of Toronto.

One of the most distinguished neighborhoods in South Florida, Bal Harbour Village sits at the northern tip of Miami Beach. An oasis of pampering and privilege, Bal Harbour is a favorite destination for many jet-setting visitors and part-time residents. The property is situated directly across A1A from the fashionable Bal Harbour Shops, one of the world’s most renowned shopping venues, and between South Beach and Fort Lauderdale.

About St. Regis Hotels & Resorts

St. Regis Hotels & Resorts includes the most celebrated properties in the world. Founded by John Jacob Astor with landmark St. Regis Hotel, New York over a century ago, the company will unveil highly anticipated St. Regis properties in Fort Lauderdale (2007), Mexico City (2008), Punta Mita, Singapore (2007), Mexico (2008), Bali (2008), Anguilla (2008), Costa Rica (2008), Atlanta (2009), Bahía Beach, Puerto Rico (2009), Deer Valley (2009), Macau (2009), Bal Harbour, FL (2010), Lhasa, Tibet (2010), Baha Mar (2011) and that will further enhance the brand’s legacy. Personalized service and amenities, enviable locations and luxuriously localized design are recognized worldwide as hallmarks of the St. Regis experience. For more information on St. Regis Hotels & Resorts, please visit www.stregis.com.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood® Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis®, The Luxury Collection®, Sheraton®, Westin®, Four Points® by Sheraton, W®, Le Méridien® and the recently announced Aloft and Element Hotels. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.