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Aloft Plano Now Open!
Starwood's new lifestyle hotel gives Dallas-area visitors, residents a fun place to stay and play; Plano is second of three Aimbridge Hospitality managed Aloft hotels to open in North Texas
PLANO, TEXAS – November 7, 2008 –The Aloft Plano, a much-anticipated lifestyle brand from Starwood Hotels & Resorts Worldwide (NYSE:HOT), opened its doors yesterday at 6853 Dallas Parkway, bringing style and energy to Dallas-area visitors and local residents. Developed by joint-venture partners Aimbridge Hospitality, Hillwood, Champ Hospitality and JF Capital Partners, this is the second of three Aloft hotels to open in North Texas. The Aloft Las Colinas — Texas' first Aloft hotel — opened last month; the Aloft Frisco is expected to open November 20.
Located approximately 20 miles due north of downtown Dallas, the Aloft Plano offers 136 loft-like rooms featuring nine-foot ceilings and oversized windows to create a bright, airy environment. It features the w xyz bar, re:mix communal lounge, re:charge fitness center, splash indoor/outdoor pool with backyard, and re:fuel by Aloft, a one-stop food-and-beverage area.
"Aloha! On behalf of Aimbridge Hospitality, welcome to the Aloft Plano," Mike Walzl, Aloft Plano general manager said to corporate guests and community dignitaries at a ribbon cutting ceremony held at the property yesterday. "Starwood's Aloft lifestyle brand is the perfect complement to the Plano community. Not only is Plano home to many Fortune 500 companies — it is the central hub for lifestyle living.
"Aloft Plano is an electric, eclectic, free-flowing social destination," he said. "Our hotel will appeal to young, style-conscious consumers who grew up with iPods, IKEA and MTV, and expect style wherever they go. It's an interactive, high-tech and smoke-free environment that we believe will become the place to see and be seen in Plano."
Plano is a 24 hour/day live, work and play zone that attracts visitors to its impressive corporate corridor, robust retail and restaurant establishments, and developing schools and neighborhoods. Companies such as Cadbury Schweppes, Ericsson, Perot Systems, Electronic Data Systems, Frito-Lay, Cinemark Theatres, and JCPenney have relocated their corporate headquarters to Plano.
"With its urban chic and active social scene, Aloft complements the energy of Plano while providing a bold new lodging alternative for forward-thinking travelers," said Brent Rumsey, Starwood Hotels & Resorts director, new builds and transitions, franchise group. "Energetic and stylish, Aloft offers a compelling combination of creativity, culture and fun. We're pleased to bring yet another Aimbridge Hospitality owned and managed Aloft to Dallas."
Plano Mayor Pat Evans said the city is "extremely excited to have Aloft in Plano."
"Its modern, forward-looking design tells you that you are in for a unique experience in lodging when you stay at Aloft," Mayor Evans said. "This new, fun place to stay and play will be a refreshing enhancement to Plano's already thriving hotel industry. Welcome to Plano, Aloft – we are glad you are here!"
Lifestyle Development Abounds
Bringing Aloft to the Dallas area is the vision of Hillwood Chairman Ross Perot Jr. Hillwood, a diversified Dallas-based real-estate development company, is the primary equity contributor to the Aloft Plano project and the group responsible for bringing the first Starwood W Hotel to Texas at Victory Park.
"The opening of the Aloft Plano demonstrates the continuing development commitment of Hillwood, Aimbridge Hospitality, Champ Hospitality and JF Capital Partners to the city of Plano, its citizens and visitors," Walzl said. "The lifestyle components, sophistication and style of Plano is uniquely mirrored by the Aloft brand and Starwood's commitment to bringing sleek and socially-dynamic accommodations to travelers. To the Mayor, the City of Plano, and everyone present today – Thank You – for your support. We at Aimbridge Hospitality look forward to the ongoing success of our Aloft hotels in Texas."
The first Aloft hotel opened on June 5, 2008, at Montreal Airport. The Aloft Ontario-Rancho Cucamonga was first to open in the United States on June 16, 2008. Starwood projects there will be 15 Aloft hotels open by year end 2008, and the first Aloft in Asia will open this month in Beijing. Five hundred Aloft hotels are expected to open by 2012.
The event concluded with hotel staff raising the flag to signify that the Aloft Plano is open for business. Reservation lines are now open by visiting www.alofthotels.com or calling 1-877-GO-ALOFT.
About Aloft
Infused with the DNA of W Hotels, Aloft is a new destination sensation featuring loft-inspired design, accessible technology and a stylish urban attitude. Aloft opened its first hotels in 2008 and expects to open 500 properties worldwide in the next five years. For more information on Aloft, please visit www.alofthotels.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 own 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.
About Hillwood
Hillwood, a Perot company, is ranked as one of the top commercial real estate developers in the country and the top residential developer in Dallas-Fort Worth. The company's developments currently house facilities for close to 90 companies listed on either the Fortune 500, Global 500 or Forbes List of Top Private firms. Hillwood is best known for its development of the 17,000-acre Alliance Texas project, located 15 miles northwest of DFW Airport, Alliance California in San Bernardino and the $420-million American Airlines Center and Victory district near downtown Dallas. For more information on Hillwood, please visit the company's Web site at www.hillwood.com.
About Aimbridge Hospitality
Aimbridge Hospitality is a hotel real estate and management company created to identify investment opportunities throughout the United States. Aimbridge provides management, asset management, capital renovation, supervision, accounting and consulting services for its strategic partners. Aimbridge currently operates hotel properties in the Embassy Suites, Doubletree, Hilton Garden Inn, Hampton Inn & Suites, Sheraton, Hyatt, Hilton, Marriott and Wyndham brands. Aimbridge also manages a number of independent hotels, including the Phoenix Inn & Suites brand of hotels and has several projects under development in the Starwood, Marriott and Hilton enterprises. For more information on Aimbridge Hospitality, please visit the company's Web site at www.aimbridgehospitality.com.
About JF Capital
JF Capital Advisors, headquartered in New York City, is a hospitality investment and advisory firm. Prior to founding JF Capital Advisors, Jonathan Falik was a Vice President in the Real Estate Investment Banking division of Bear Stearns & Co. Inc. Together with Joe Weinberger, the principals of JF Capital Advisors have completed over $10 billion of mergers and acquisitions and capital markets transactions in the hospitality sector. For more information on JF Capital Advisors, please visit the company's Web site at www.jfcap.com.
About Champ Hospitality
Champ Hospitality LP is a full service hospitality development company. Champ develops hotels domestically and internationally for its own portfolio as well as provides a broad range of consulting services for third parties, including: Feasibility analysis, site acquisition, project management, brand selection, management and franchise contracts, asset management and disposition strategies. For information call (214) 432-9559 or visit www.champhospitality.com.