Sheraton Bal Harbour Beach Resort to Remain Open Through Summer 2006.WHITE PLAINS, N.Y. -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE NYSE See: New York Stock Exchange :HOT) and The Related Group of Florida announce that the Sheraton Bal Harbour Beach Resort will remain open until the end of summer 2006. The hotel was originally scheduled to close at the end of May 2006 to make way for the highly-anticipated St. Regis Resort & Residences, Bal Harbour which will stand in its place at 9701 Collins Avenue, directly across the street from the prestigious Bal Harbour Shops Bal Harbour Shops, is an upscale open-air shopping mall located in Bal Harbour, Florida, a suburb of Miami, and Florida's most exclusive shopping destination. The mall is still one of the few remaining family-owned malls in the nation and boasts one of the most exclusive luxury . Due to a delay in the zoning process necessary to begin the new St. Regis project, both Starwood and Related, the developers of the new St. Regis, determined that continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of the 645-room Sheraton Bal Harbour until the end of summer will provide many benefits to customers and the community, while still maintaining the projected opening of the St. Regis Resort & Residences in 2009. "Having successfully completed the zoning process, we looked again at the time lines for the St. Regis project and determined that the Sheraton could remain open for the summer without negatively impacting the opening date of the St. Regis," stated Darryl Murphy, senior vice president, residential development for Starwood. "By keeping the hotel open, we will allow the Sheraton Bal Harbour to provide benefits to all the stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. in this project; the guests, the employees, the shareholders, the community and the future guests and residents of the St. Regis." "The hotel is in the most pristine condition and will remain true to the high-standards of quality and services that have made the Sheraton Bal Harbour a legendary oasis to so many guests," said the resort's managing director, Hans B. Altenhoff. "We are delighted to extend the final days of the hotel to be able to give our loyal customers 'one last look' at this magnificent resort." Bal Harbour continues to be one of the most highly revered destinations in South Florida. This historic village is home to acclaimed restaurants, pristine beaches and is known internationally for its luxury shopping. For generations locals and tourists have enjoyed the quaint serenity of Bal Harbour, which is nestled in close proximity to bustling South Beach. The Sheraton Bal Harbour has a long history for providing quality service and accommodations, which many visitors have come to rely on as a home away from home. St. Regis Resort & Residences, Bal Harbour promises to deliver to future guests and residences an ultra-luxury hotel resort complete with 268 luxury residences, 219 condo-hotel suites and 24 residence club units. "We look forward to bringing St. Regis Resort & Residences to the Village of Bal Harbour and continuing to build a valued relationship with both the hotel guests and the community alike," said George Giebel, vice president/managing director of The Related Group of Florida's Condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. Division. St. Regis Resort & Residences, Bal Harbour will boast a 25,000 square foot luxurious Remede Spa, a renowned restaurant, decorative fountains & pool features and signature St. Regis Butler service. Additionally, the grounds will be breathtaking with expertly designed gardens, which will include commissioned art and sculptures to enhance the dramatic presence of this new property. Along with interior designers Yabu Pushelberg, who also designed Related Groups' Apogee apogee (ăp`əjē), point farthest from the earth in the orbit of a body about the earth. See apsis. The farthest point. and Starwood's St. Regis Hotel, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden which opened in November 2005, Florida-based architect Sieger Suarez Architectural Partnership, was chosen to work on this incredible site. Sales for St. Regis Resort & Residences, Bal Harbour is being handled by Related Cervera Realty Services. About The Related Group of Florida Established in 1979, The Related Group of Florida is the nation's leading builder of luxury condominiums and one of the country's premier multi-family real estate development firms. For more than a quarter of a century, The Related Group of Florida has created innovative residential developments that have dramatically changed South Florida's urban landscape. Since its inception, the privately-held company has built and managed more than 55,000 condominium and apartment residences in major markets throughout Florida. Founded by Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jorge M. Perez, The Related Group has earned a national reputation for its visionary design and development of luxury condominiums, mixed-use center and affordable rental properties often in emerging or undiscovered neighborhoods. The Related Group ranks as Florida's top multi-family developer and is also the largest Hispanic-owned business in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Related Group of Florida has been a leader in residential development for more than 25 years, and its current development portfolio includes projects valued in excess of $10 billion, with reported sales of more than $2.1 billion for 2004. About St. Regis Hotels & Resort St. Regis Hotels & Resorts includes the most celebrated properties in the world. Founded by John Jacob John Jacob is the name of:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of over a century ago, the company will unveil highly anticipated St. Regis properties in Bora Bora Bo·ra Bo·ra A volcanic island of French Polynesia in the Leeward group of the Society Islands in the southern Pacific Ocean. , French Polynesia French Polynesia, officially Territory of French Polynesia, internally self-governing overseas country (2002 pop. 245,516) of France, consisting of 118 islands in the South Pacific. The capital is Papeete, on Tahiti. (2006) Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. (2006), Anguilla (2007), Mexico City Mexico City Spanish Ciudad de México City (pop., 2000: city, 8,605,239; 2003 metro. area est., 18,660,000), capital of Mexico. Located at an elevation of 7,350 ft (2,240 m), it is officially coterminous with the Federal District, which occupies 571 sq mi (2007), Punta Mita Punta Mita is a municipality located in the Mexican state of Nayarit, north of Puerto Vallarta. , Mexico (2007), Singapore (2007), Atlanta (2008), Deer Valley Deer Valley is an alpine ski resort in the Wasatch Range in the Park City area of northern Utah. Deer Valley is for skiers only, as it prohibits snowboarding. During the 2002 Winter Olympics Deer Valley hosted the freestyle moguls and aerial, and alpine slalom events. , UT (2008) and Bal Harbour, FL (2009) that will further enhance the brand's legacy. Personalized service and amenities, enviable locations and luxuriously localized design are recognized worldwide as hallmarks of the St. Regis experience. For more information on St. Regis Hotels & Resorts, please visit www.stregis.com. (Note: This press release contains forward-looking statements within the meaning of federal securities regulations. 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.)
* * JOURNALISTS - PLEASE NOTE: JOIN STARWOOD'S
PRESS RELEASE ALERT SERVICE TO RECEIVE STARWOOD
COMPANY NEWS AND INFORMATION * *
To become a member, simply access the Starwood
website, at www.starwood.com.
Once you reach the home page, simply click on
"Company News", enter your e-mail address, and
click "Subscribe".
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion