WHITE PLAINS, N.Y. Dec. 17, 2001 -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today it will assume management and marketing of the 62-unit Molokai Ranch & Lodge, bringing its inventory to 14 resort properties on six Hawaiian Islands.
    
Effective February 2002, the property will be re-named the Sheraton Molokai Lodge & Beach Village.
    
"We are very excited to add Sheraton Molokai Lodge & Beach Village to our collection of Sheraton, Westin, Luxury Collection and W properties in Hawaii," said Keith Vieira, senior vice president of operations for Starwood Hotels & Resorts-Hawaii & French Polynesia. "It was a strategic move on our part to not only be able to have resort inventory on six Hawaiian Islands but also to accommodate the growing numbers of active/soft adventure travelers to the state."
 

"Starwood Hotels & Resorts Hawaii is a proven organization with formidable insight into the Hawaiian market's specific needs and offers tremendous potential," said Scott Whiting, president of Molokai Ranch, Ltd. "Starwood brings the strategic management experience and global presence needed to propel Molokai Ranch to the next level."      Under the agreement, the property's

The 22-room Molokai Ranch Lodge

The Sheraton Molokai Lodge and Beach Village will be comprised of the 22-room lodge in Maunaloa Town and 40-unit Beach Village at Kaupoa on the island's southwest coast. Sheraton will also assume management of the Ranch's extensive network of recreational activities, including ocean kayaking, mountain biking, clay shooting, archery, cultural hikes, horseback adventures and children's program.
    
Kenny Ching, a former Sheraton executive at the Princess Kaiulani, will continue as general manager of the property under the Sheraton brand. "Molokai Ranch is known for excellence in service, and we look forward to working with the existing team as we transition to Sheraton management and service standards," Vieira said.
    
Gracing the entrance to historic Maunaloa Town, the Lodge is fashioned after a Ranch owner's private home. Showcasing the warmth and ambiance of Hawaii in the 1920's and '30s, it features 22 spacious guest rooms, a Great Room, fine dining room, elegant lounge and wrap-around verandahs offering panoramic ocean and pasture views. The Lodge also offers a day spa, fitness center and swimming pool.
    
The Beach Village offers a slice of paradise with its beautiful beachfront location and abundance of palm trees. Guests stay in comfortable tentalow accommodations, featuring two bungalow-like tents mounted on wooden platforms. Each tentalow offers an arrangement of queen, single or bunk beds, private bathroom with hot water shower, solar-powered lights, and spacious lanai with breathtaking views.
    
Sheraton, the largest brand of Starwood Hotels & Resorts Worldwide, Inc. has more than 375 hotels in 67 countries. Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 750 properties in more than 80 countries and 110,000 employees at its owned and managed properties.