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Starwood to Open Element in Aspen Valley

Wednesday, July 30, 2014
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Starwood Hotels & Resorts Worldwide
Starwood Hotels & Resorts Worldwide
Owner, manager and franchisee of 9 brand

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced plans to introduce its trailblazing Element brand to Basalt, Colorado. Set to open in August 2015, Element Basalt Aspen Valley is ideally situated near two of the nation’s most prestigious ski and mountain towns: Aspen and Snowmass Village. Owned by a joint venture between Silverwest Hotel Partners and Mariner Real Estate Management, the newly constructed Element hotel will offer a fresh, new option for travelers with 113 stylish, sustainable rooms and a light-filled atmosphere designed to fuel a life in balance and on the move. It will join Element Denver as the brand’s second property in Colorado.

Less than 30 minutes to both Aspen and Snowmass Village, Element Basalt Aspen Valley will be located within the new Willis Town Center, the only sustainable mixed-use community in the Roaring Fork Valley. Guests will be within walking distance of the community’s shops, restaurants, residences, offices and Whole Foods Market. Situated at the gateway of the White River National Forest, the hotel will offer easy access to the area’s outdoor recreation including numerous hiking and biking trails, fly-fishing in the waters of the Roaring Fork and Frying Pan Rivers and a choice of premium golf courses.

“Element is an ideal fit for the Aspen area and will offer travelers smart, sustainable lodging in Basalt with close proximity to world-class ski resorts, outdoor recreation and more,” said Brian McGuinness, Senior Vice President of Specialty Select Brands for Starwood. "At Element, guests enjoy a bright, energizing environment that's conducive to both work and play, as well as innovative brand-led programming.”

Element Basalt Aspen Valley will boast light-filled studios as well as one bedroom suites featuring a fluid design of modular furniture, swiveling flat-screen televisions, large desks with open shelving and custom-designed closets. Rooms will also offer fully equipped kitchens and the signature Heavenly® Bed, and spa-inspired bathrooms will feature an invigorating rain shower and dual-flush toilet. Other brand signatures will include a state-of-the-art, 24-hour fitness center, pool and outdoor hot tub, and 626 square-foot meeting room with modular furnishings, a flexible layout and state-of-the-art technology that can be customized to meet any business or social needs. Guests can stay on the move with Element’s complimentary bikes to borrow and enjoy fun and free extras including complimentary Wi-Fi throughout the hotel, the signature RISE breakfast, RELAX evening reception, and salon bar carts stocked with premium wines and beers, soft drinks and snacks, available after hours.

“Element is on track to double its portfolio in the next two years due to its highly successful positioning and emphasis on clean, sustainable living,” said Allison Reid, Senior Vice President of North America Development, Starwood Hotels & Resorts Worldwide, Inc. “Element Basalt Aspen Valley will offer an entirely fresh perspective on the extended stay experience in an area celebrated for its phenomenal skiing and year-round outdoor recreation.”
Element is the first major hotel brand to mandate that all properties pursue the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) certification for high-performance buildings. It’s recognized as an industry leader in the eco-space, and offers travelers a fresh, reimagined interpretation of the extended stay hotel experience.

About Element Hotels
Element® Hotels is made to order for guests in the know and on the go. Its bright design defies convention, bathing guest rooms and public spaces in natural light. Stylish and sustainable throughout, Element offers extended stay comfort with a conscience and lots of signature amenities from its healthy RISE breakfast and RELAX evening reception to saline swimming pools, spacious fitness centers, bikes to borrow and electric vehicle charging stations. Starwood’s latest brand innovation, Element made history in 2008 as the only major hotel brand to pursue LEED certification for high-performance buildings brand-wide. To date, there are Element hotels in 11 markets in North America with new domestic and international hotels in development. Visit www.ElementHotels.com or connect on Facebook.

About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries, and 181,400 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG®), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.

About Silverwest Hotel Partners
Silverwest is a Denver-based hotel investment company specializing in the development and operations of hotels in the Rocky Mountain and western States. Founded by veteran hotel and resort industry executives Edward Mace and Charles Peck in 2013, the company develops and invests in high quality hotel projects that represent the next generation of hotels and resorts appealing to a new generation of leisure and business travelers. Mr. Mace was previously President and CEO of Fairmont Hotels and later President of the lodging group at Vail Resorts, Inc as well as the related brand, RockResorts. Mr. Peck was formerly President and COO of Destination Hotels & Resorts, the Denver-based hospitality division of Lowe Hospitality Group. For more information, please visit www.silverwestpartners.com.

About Mariner Real Estate Management
Mariner Real Estate Management (MREM) is a Kansas City-based real estate private equity firm focused on opportunistic investments in the commercial real estate market. The Company’s experienced management team employs a disciplined investment strategy that seeks to achieve attractive risk-adjusted returns for its investors. Since inception, MREM and its affiliates have purchased real estate and real estate debt with a face value of over $1.3 billion through three opportunity funds. The majority of the assets purchased have been real estate debt with properties positioned for turnaround. Among other real estate investments, Mariner owns and is the developer of Willits Town Center in Basalt, CO, which is the site of the new Element hotel and home to one of the few Whole Foods Markets in a major resort area. For more information, please visit www.mariner-re.com.

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