Barry Sternlicht of Starwood Hotels & Resorts Worldwide to Provide Keynote Address at the 13th Annual Hotel Investment Conference Asia Pacific (HICAP)

2 August 2002

Barry S. Sternlicht, chairman and chief executive officer of Starwood Hotels & Resorts Worldwide, Inc. will address delegates at the 13th Annual Hotel Investment Conference Asia Pacific (HICAP) on October 17, 2002. HICAP, formerly known as the Asia Pacific Hotel Investment Conference, will be held October 16-18, 2002 in Hong Kong.

According to HICAP founder Rob Stiles of Sonnenblick-Goldman Company, Sternlicht was invited to provide the keynote speech because of his worldwide reputation as a dynamic and inspiring hotel leader. "Barry is one of the most respected leaders in the hotel industry today. His ideas and leadership have brought innovative, new products and programs to the hospitality community," stated Stiles. HICAP Co-Chairman Robert Hecker of Horwath Asia Pacific added, " Barry heads up one of the leading hotel and leisure companies in the world with more than 740 properties in over 80 countries. Our international delegates no doubt will benefit from his insights into the trends and issues affecting the hotel industry performance and product evolution."

Among his accomplishments, Sternlicht has received accolades for introducing a revolutionary new guest room design for the Sheraton brand and the creation of Westin's famous "Heavenly Bed". USA Today reported that Starwood's Preferred Guest Program to be the top loyalty program in the world, less than four months after it was inaugurated. Sternlicht also is credited with the launch of the wildly popular W Hotels brand, with hotels in major United States cities and in Sydney, Australia and under development elsewhere in Asia".

During the precarious time of October 2001, HICAP drew nearly 300 delegates from over 20 countries. Stiles and Hecker both anticipate a capacity crowd for this year's event. "Registrations are running about 50% above last year's pace at this time. The quality of the program, and inclusion of Barry Sternlicht to the list of speakers, is expected to lead to a sell-out this year, " according to Stiles.