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Starwood Vacation Ownership, Inc. (SVO), a division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) expects the first phase of the only hotel-branded vacation ownership resort in Cancun to be ready for occupancy in summer of 2008. The Company currently has three vacation ownership and fractional resorts under development in Mexico.
The first phase of the Westin Lagunamar Ocean Resort Villas consists of four eight-story buildings, a reception building, sales gallery and various amenities including a lavish swimming pool and Westin WORKOUT fitness facility. This phase will include 78 two-bedroom lockoff villas. Upon completion, the resort will have a total of 296 two- bedroom lockoff villas.
Starwood anticipates hiring several dozen new associates in a variety of positions including sales and marketing and administrative roles. Many of these positions will be hired immediately as the Company will soon open its new sales gallery at the nearby Westin Hotel & Spa, Cancun.
“We are excited to make this investment in Mexico. This will be our first vacation ownership resort in Latin America and we could not have picked a better location. We are planning to celebrate the grand opening of the resort in summer of 2008. The location is unbeatable and we will deliver a product that will set a new standard for vacation ownership in Mexico. The resort design, the interior furnishings and the focus on service will be best-of-class,” said Sergio Rivera, president, real estate development, Starwood Hotels & Resorts Worldwide.
The Westin Lagunamar represents Starwood’s third location in Cancun including the Westin Cancun Resort & Spa and the Le Meridien Cancun Resort & Spa. The newest in the portfolio is located on 18 acres of picturesque beachfront property in the heart of Cancun’s Zona Hotelera, Cancun’s main tourism district.
In addition to Cancun, Starwood has two other projects under development in Mexico. The company recently began construction on the Westin Los Cabos Ocean Villas, the first vacation ownership resort in Los Cabos developed by a major U.S. lodging company. It is adjacent to the award winning Westin Resort & Spa, Los Cabos overlooking the Sea of Cortez.
Starwood will also soon begin construction of the St. Regis Punta Mita, a luxurious mixed-use property including a St. Regis Hotel, whole ownership residences and fractional interests at the St. Regis Residence Club, Punta Mita, dramatically set on the Pacific Coast of Mexico. The Residence Club will feature roughly 40 free-standing villas, with sales scheduled to begin in 2008.
For information on employment or sales at the Westin Lagunamar Ocean Resort Villas, please contact www.starwoodvo.com/careers.
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 890 properties in more than 100 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(R), The Luxury Collection(R), Sheraton(R), Westin(R), Four Points(R) by Sheraton, W(R), Le Meridien(R) and the recently announced Aloft(SM) and Element(SM) 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.
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