The Westin Key West Resort & Marina Debuts on July 31st

WHITE PLAINS, NY | Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT - News) and Ocean Properties, Ltd. Hotels & Resorts announce plans to reflag the Hilton Key West Resort & Marina to The Westin Key West Resort & Marina. The hotel will fly the Westin flag beginning July 31, 2006, and during the next two years will undergo a multi-million dollar extensive renovation to meet the upper-upscale standards of the Westin brand.

We're thrilled to be part of this highly-regarded resort in such an ideal setting," said Sue Brush, senior vice president, Westin Hotels & Resorts. "The Westin focus on quality and innovation combined with an extensive renovation of all guestrooms, meeting space and public spaces will enhance the resort even further and provide a truly memorable experience for our guests."

"We are excited to welcome Westin to our collection of outstanding hotels and to Key West," said Tom McMurrain, vice president for Ocean Properties. "The Westin brand certainly carries with it a reputation for superior quality and service, and we look forward to setting new standards for the destination with this change. The properties have a loyal guest base and we are very excited to unveil the new product to this discriminating clientele, as well as welcoming new travelers through the Starwood network and Starwood Preferred Guest."

Located on the waterfront and one walking block from fabled Duval Street and Mallory Square, The Westin Key West Resort & Marina is one of the Conch Republic's top destination resorts. The hotel offers deluxe guestrooms and suites, more than 16,000 square feet of indoor and outdoor function space, multiple dining options, heated pool and a full-service, 36-slip marina with a complete range of watersports. In addition, the resort operates one of the country's largest private ports, welcoming cruise ships to the destination daily.

Situated on a private island just offshore of the main hotel and accessible only by boat, Sunset Key Guest Cottages features elegantly appointed one, two and three-bedroom cottages all with an equipped kitchen, living and dining areas and are designed in traditional Key West architecture. Acclaimed annually by Travel & Leisure and Conde Nast Traveler magazines as one of the country's top resorts, Sunset Key offers superior amenities and services such as a secluded beach, unique tropical pool, restaurant, tennis courts, grocery shopping service and personal chef service and the convenience of 24-hour launch transportation to Key West.

Guests of The Westin Key West Resort & Marina and Sunset Key Guest Cottages a Westin Resort can sink into the Westin Heavenly Bed® and will be refreshed by the Heavenly Bath®. Guestrooms will boast amenities and services that cater to business and leisure travelers alike with Westin style and design. The new Westin brand positioning is centered on RENEWAL, and offers guests the services, products and amenities that will help them rejuvenate, relax and restore their mind, body and spirit. In keeping with this brand message, all Westin hotels in the U.S., Canada and the Caribbean are smoke-free.

Westin Hotels & Resorts, with 121 hotels and resorts in 31 countries and territories, is owned by Starwood Hotels & Resorts Worldwide, Inc. and was ranked "Highest in Guest Satisfaction Among Upscale Hotels Chains." in the J.D. Power and Associates' 2004 North America Hotel Guest Satisfaction Study(SM) and voted Best Domestic Hotel Chain by Global Traveler Magazine. 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 Meridien® and the recently announced Aloft(SM). 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 .

With corporate headquarters in Delray Beach, Florida; Portsmouth, New Hampshire; and Montreal and Toronto, Canada; Ocean Properties Ltd. Hotels & Resorts is one of the country's largest privately-owned franchisers of hotels and resorts. The company currently owns and operates properties throughout North America including franchised hotels such as: Marriott, Westin, Hilton, AmeriSuites, Courtyard by Marriott, Residence Inn by Marriott, Springhill Suites by Marriott, Days Inn, Fairfield Inn by Marriott, Sheraton, Holiday Inn, Holiday Inn Express, and Ramada. For more information on Ocean Properties Ltd., please click to .

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Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 1,200 properties in some 100 countries and over 180,000 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.