NEW YORK, June 6 /PRNewswire/ -- Hooray for Hollywood! W Hotels
Worldwide, the fastest growing luxury hotel brand in the world, announced
today plans for a new W Hotel & Residences in the Hollywood district of Los
Angeles. Starwood Hotels and Resorts Worldwide, Inc. (NYSE: HOT), W's parent
company, entered into an agreement with HEI Hospitality, a hotel investment
and operating company, and Gatehouse Capital, a Dallas-based real estate
investment firm, who will jointly develop the property, which will be operated
by Starwood.
Located at one of the world's most famous intersections at Hollywood and
Vine, the W Hollywood Hotel & Residences will neighbor the world-famous Kodak
theatre, home to the Oscars. The hotel will feature approximately 300 rooms
and 150 W Residences, a signature restaurant, a rooftop bar, branded 9200-
square-foot spa and 25-yard lap pool.
"Hollywood has long been considered the heart of all that entertains us.
It's only fitting that we chose to build a W there," said Ross Klein,
President of W Hotels. "Our brand's heightened sense of style, design and
'Whatever/Whenever' service will mix with Hollywood's authentic buzz to create
the perfect L.A. escape."
The fifth residential project announced by W Hotels, the W Hollywood will
feature 150 luxurious residences, including one, two and three bedroom units
with spectacular views of the "Hollywood Sign". Residents will have all the
benefits of being attached to a W Hotel, including signature amenities enjoyed
by hotel guests and exclusive access to a private rooftop pool and fitness
center. Owners will have access to the hotel's facilities, including 24-hour
room service, daily housekeeping and concierge services.
"A project like this comes along once in a lifetime", says Marty Collins,
President of Gatehouse Capital, "and we look forward to greatly enhancing the
social design and economic fabric of Hollywood which has enthusiastically
endorsed our efforts. We fully expect to produce something entirely different
than anything currently in the market."
"We are excited to partner with Gatehouse and Starwood to undertake what
will be a very exciting mixed-use development," said Gary Mendell, Chairman
and CEO of HEI. "We believe that the combination of the W Hotel, W
Residences, and highly branded retail will make this Hollywood location highly
appealing to hotel guests and homebuyers alike."
The W Hollywood will offer W Hotel's signature Living Room experience, a
place where guests, residents and L.A. insiders will sip and socialize on the
adjoining outdoor terrace and rooftop club. The hotel's other distinctive
elements include substantial luxury retail space, 16,000 square feet of
meeting, banquet and pre-function space and Wired, a full-service business
center open 24 hours. Guest rooms and suites (including spa suites) will
indulge guests with W's signature beds with feather-top mattress, 350 thread-
count Egyptian cotton sheets and goose down comforters.
The W Hollywood, scheduled to open in 2008, will be the second W property
in Los Angeles, the first being the W Los Angeles - Westwood. Since its
opening in April of 2000, the 258 all-suite hotel has become the most sought-
after venue for Hollywood premieres and after parties. It's also home to the
newly-opened Nine Thirty restaurant and a spectacular 4,000-square-foot
sundeck graced with colorful cabanas which has served as the backdrop for
countless movie scenes and celebrity photo shoots.
About W Hotels:
W Hotels is a global lifestyle brand with 20 properties in vibrant cities
around the world. Inspiring and indulging its guests with thoughtful,
refreshing and stylish experiences, signature restaurants, bars and
destination spas, W has become the fastest growing luxury hotel brand in the
world. Each hotel offers a unique mix of innovative design, comfort and
cultural influences from fashion to music to art and everything in between.
Recent openings include W's first property in Asia, W Seoul - Walkerhill,
which opened in August of 2004 and its first property in Canada, W Montreal,
in October of 2004. Residence properties, offering the W lifestyle at home,
have been announced for Dallas, Fort Lauderdale, Scottsdale and Hoboken. In
addition, there are more than a dozen W Hotels in the development pipeline in
city and resort destinations. For more information, visit
http://www.whotels.com.
About Gatehouse Capital:
Gatehouse Capital Corporation, founded in 1995, is a boutique real estate
investment and advisory services firm based in Dallas, Texas. The company is
a disciplined low volume, high margin real estate development firm that
specializes in highly designed upscale hotel and upscale lifestyle centers
with a hotel component. Gatehouse uses "best of class" institutional partners
to design, build and operate its properties. Gatehouse developments include W
San Diego, W Silicon Valley and W Dallas Victory Hotel and Residences, the
first W Residences. Gatehouse is the largest third party developer of W
hotels. For more information, please visit:
http://www.gatehousecapital.com.
About HEI Hospitality:
HEI Hospitality, headquartered in Norwalk, Connecticut, is a leading
hospitality investment firm which currently owns and operates 25 first-class
and full-service hotels throughout the United States under such well-known
brand names as Marriott, Sheraton, Westin and Hilton. For more information,
please visit
http://www.heihospitality.com
SOURCE W Hotels Worldwide
Web Site:
http://www.whotels.com http://www.gatehousecapital.com
http://www.heihospitality.com