New Sheraton to Open in Fast-Growing Austin Suburb
Sheraton Georgetown, Texas Hotel and Conference Center will launch in 2015 in the Summit at Rivery Park Mixed-use Development
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced it will soon debut in Georgetown, Texas, an affluent and rapidly expanding suburb of Austin. Sheraton Georgetown, Texas Hotel and Conference Center is slated to open in 2016, within the upscale Summit at Rivery Park development. Owned by a joint venture between Hines, the international real estate firm based in Houston, and The Novak Brothers, the new-build, Starwood operated Sheraton hotel will offer 224 spacious guestrooms, extensive meeting facilities and all the Sheraton brand signature amenities and services.
growing areas in the nation," said Hoyt Harper, Hoyt Harper, Global Brand Leader, Sheraton Hotels & Resorts. "Sheraton Georgetown, Texas Hotel and Conference Center will serve as a gathering place for both travelers and local residents, offering guests all the brand's signature amenities and services in a superb location."
Sheraton Georgetown, Texas Hotel and Conference Center will anchor the Summit at Rivery Parkdevelopment, a 32-acre mixed-use complex currently under development by The Novak Brothers that will also include residential townhomes, shops and office space. Located on Rivery Boulevard, the Summit at Rivery Park overlooks the San Gabriel River and provides direct access to the hiking and biking trails in Rivery Park. Voted the No. 2 Best City to live and launch a new business by Fortune Small Business magazine, Georgetown attracts thousands of visitors to its annual Red Poppy Festival. Guests at Sheraton Georgetown, Texas Hotel and Conference Center will enjoy proximity to the campus of Southwestern University, the shops on the Square in Old Georgetown, Wolf Ranch Town Center, and the many night clubs and music venues in nearby Austin.
"We are delighted to collaborate with both Hines and Novak Brothers to bring the renowned Sheratonbrand to Georgetown, Texas," said Allison Reid, Senior Vice President of North America Development, Starwood Hotels & Resorts Worldwide, Inc. "The new-build Sheraton hotel and conference center will help meet the rising demand for high caliber lodging and meeting facilities in this rapidly expanding Austin suburb."
"Sheraton is a terrific choice for the Summit at Rivery Park development, and we are thrilled to workwith Hines, Starwood and the city of Georgetown on this exciting project as part of our master-planned development," said Jeff Novak, Founder and CEO, Novak Brothers. "Sheraton Georgetown, Texas Hotel and Conference Center will offer a stylish atmosphere, as well as state-of-the-art meeting facilities for meetings of all sizes."
Hines Director Andy Heard commented, "We are very pleased to enter the Georgetown hospitalitymarket with the Sheraton brand, and want to give special acknowledgement to the City of Georgetown and Williamson County officials for their continued support and participation in the project. This truly is a public-private partnership in every sense, and we are excited to have assembled a world-class team to deliver a premier hotel and conference center for the community.
At the heart of the lobby, guests will enjoy the signature Link@Sheraton(R) experiencewith Microsoft®" – a relaxed space with complimentary wireless broadband where guests can socialize and connect with friends, both old and new. All guest rooms will offer the all-white Sheraton Sweet Sleeper® bed, designed to meet AAA's Five Diamond Award® criteria, an oversized work desk, ergonomic chair, high-speed Internet and 42-inch flat panel television. Sheraton Club guests will enjoy upgraded amenities, as well as complimentary breakfast, beverages and evening hors d'oeuvres in the Sheraton Club Lounge.
An ideal choice for business meetings, weddings and social functions, Sheraton Georgetown, TexasHotel and Conference Center will feature a nearly 30,000 square foot conference center. Additional facilities will include a signature restaurant, destination bar, outdoor pool and fitness facility featuring the brand's revolutionary health and fitness program, Sheraton Fitness by Core Performance.
Sheraton Hotels & Resorts, like all brands within Starwood's robust portfolio, is proud to offer theStarwood Preferred Guest® program, which made headlines when it launched in 1999 with a breakthrough policy of no blackout dates on Free Night Awards. SPG® offers members the ability to redeem awards at more resorts, more luxury properties, more European hotels and more golf properties than any other hotel program.
Hines is a privately owned real estate firm involved in real estate investment, development andproperty management worldwide. The firm's historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,283 properties representing more than 516 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 378 properties totaling 151.9 million square feet, which includes 84.3 million square feet for third parties. With offices in 111 cities in 18 countries, and controlled assets valued at approximately $25.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.
About Novak Brothers
Novak Brothers is a residential and mixed-use builder in Georgetown, Texas, with a special focus onunique, memorable properties. Together, Jeff Novak, Jack Novak and Jim Cramer have led the creation, development and sales of successful residential and commercial properties across the US and abroad. For more information, please visit www.novakbros.com.
(Note: This press release contains forward-looking statements within the meaning of federal securitiesregulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.) The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 1,300 properties in some 100 countries and approximately 188,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences under the renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®,Tribute Portfolio™, Four Points® by Sheraton, Aloft®, and Element®, along with an expanded partnership withDesign Hotels™. The company also boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG®). Visit www.starwoodhotels.com for more information and stay connected @starwoodbuzz on Twitterand Instagram and facebook.com/Starwood.
Starwood Hotels &