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Starwood Expands Presence In Brazil With Upcoming Sheraton Da Bahia Hotel In Salvador

Salvador the capital of the state of Bahia has a rich history and was declared World Heritage Site by Unesco in 1985. Thanks to its notable cultural attractions, cuisine, music, beaches and architecture, Salvador is today the second largest tourist destinations in Brazil, after Rio de Janeiro.

“The partnership with the Sheraton brand will greatly enhance GJP Hotéis & Resorts, the brand is a global icon in the hospitality industry, which now arrives in Salvador, at the Hotel da Bahia. The city deserves this accomplishment which will enrich the value of local and national tourism in Brazil, including corporate travel”, said Guilherme Paulus, President GJP Hotéis & Resorts.

The hotel is currently undergoing a meticulous renovation that will preserve the charms and jewels of the historic building, such as the façade with its beautiful tiles and prominent works of art, including the grand murals by Genaro de Carvalho picturing local festivities from Bahia, protected by the IPAC – Institute of Arts and Cultural Heritage of Bahia State since 1981, as well as three other large murals by renowned Argentine artist Carybé, especially commissioned for the hotel picturing scenes from the Brazilian lifestyle located in the hotel’s lobby area.

About Sheraton Hotels & Resorts

Sheraton helps guests make connections at more than 400 hotels in 70 countries around the world and recently completed a $6 billion global revitalization and is now in the midst of a $5 billion global expansion over the next three years. Sheraton is owned by and is the largest and most global brand of Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and leisure companies in the world with 1,128 properties in 100 countries and territories with 154,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, and Element SM. The company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.

About GJP Hotéis & Resorts

GJP Hotéis & Resorts has more than 1.3 thousand employees, with more than 15 hotels and resorts around Brazil, of which one is currently under construction and one already scheduled to open in the first quarter 2013. Of the 15 properties, seven are owned and eight are under a management contract. The operating company is owned by GJP Participações, holding that also owns 36,7% of CVC Viagens, amongst other business. GJP Hotels & Resorts are present in Gramado (RS), Porto de Galinhas (PE), Maceió (AL), Natal (RN), Porto Seguro (BA), Foz do Iguaçu (PR), Barra do Piraí (RJ), Rio de Janeiro (RJ), Aracaju (SE) and now Salvador (BA). For more information, please visit: www.gjp.com.br

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Further results, performance and achievements may be affected by general economic conditions, including the duration and severity of any global or regional economic downturns, the availability of financing alternatives at acceptable terms, the impact of war and terrorist activity, business and financing conditions, foreign exchange fluctuations, cyclicality of the real estate (including residential) and the hotel and vacation ownership businesses, operating risks associated with the hotel, vacation ownership and residential businesses. 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 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.

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