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STARWOOD HOTELS & RESORTS WORLDWIDE, INC. OPENS VACATION OWNERSHIP RESORT
AT PGA VILLAGE

 

Orlando, FL --  Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) recently celebrated the grand opening of its newest golf-oriented vacation ownership resort, the PGA Vacation Resort in Port St. Lucie, Florida.  Developed by Starwood’s vacation ownership subsidiary, Vistana, Inc., the resort is the company’s sixth vacation ownership resort in Florida and its first with The PGA of America

The PGA Vacation Resort is an integral part of PGA Village which offers world-class golf on three acclaimed courses and professional instruction at the new PGA Learning Center. The first phase includes 30 one and two bedroom luxuriously furnished villas, pool complex and cabana.  Upon build out, the resort will have 387 villas.

“We are excited to extend our portfolio of vacation ownership properties at golf resorts.  Vacation ownership is a popular way for families to purchase vacation time at a resort and return year after year.  We believe that this concept will be very successful at PGA Village as it is one of the finest golf destinations in the country,” said Raymond L. “Rip” Gellein, Jr., chairman and co-chief executive officer of Vistana, Inc.

Located along the I-95 corridor within a two-hour drive of Florida’s major markets including Miami, Orlando and Tampa/St. Petersburg, the PGA Vacation Resort is well positioned to attract both in state and out of state visitors.  In addition to providing accommodations on a vacation ownership basis, the resort also offers nightly rentals and packages.  Each villa features a fully equipped kitchen, washer and dryer, a television in each bedroom and living room, stereo and CD player.  The spacious villas provide ample room for families to relax and enjoy views of the golf course and PGA Learning Centerä.

“We are extremely excited to be a part of PGA Villageä and to be associated with The PGA of Americaä.  Vacation ownership is becoming a popular alternative to a second home and destinations such as PGA Villageä are perfect for this type of development.  The incredible growth of golf and this unique facility is a winning combination,” continued Gellein.

The PGA Vacation Resort is Starwood’s second golf-oriented vacation ownership property.  The first, Vistana Resort at World Golf Village, in St. Augustine, Florida, opened in 1998.

“The demographics of golfers closely resembles that of timeshare owners.  They tend to be better educated, have higher incomes and enjoy travel.  Most importantly, industry studies have found that golf is one of the highest rated activities for timeshare owners,” continued Gellein.

“The PGA Vacation Resort is the ideal solution for those avid golfers looking for a place to come year-after-year to play at some of the best courses in the country and practice at a facility unlike any in the country.  Our villas are perfect for families, couples traveling together or your golfing friends looking to tune up their game,” said Gellein.

Starwood Hotels & Resorts Worldwide, Inc., (NYSE: HOT) through its St.Regis, Luxury Collection, Westin, Sheraton, Four Points and W brands, is one of the leading hotel and leisure companies in the world with more than 700 hotels in 80 countries and 120,000 employees at its owned and managed properties. In October 1999, Starwood Hotels & Resorts Worldwide, Inc. acquired Vistana, Inc. a leading developer and operator of timeshare resorts.  Headquartered in Orlando, Florida, Vistana, operates eleven vacation ownership resorts: five in Florida; two in Colorado; one in South Carolina; one in the U.S. Virgin Islands and two in Arizona. Resorts in the development stage include Harborside Resort at Atlantis on Paradise Island in the Bahamas, Sheraton’s Mountain Vista in Avon, Colorado and Sheraton’s Bella Florida in Orlando, Florida.