Starwood Hotels & Resorts To Launch Dual-Branded Aloft And Element Hotel Development In Redmond, Washington

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced plans to break ground on a dual-branded Aloft and Element hotel development in Redmond, Washington, set to open in July 2017. Owned and managed by CSM Corporation, the 150-room Aloft Redmond and 131 -room Element Redmond will be located just outside the campus for Microsoft Corporation's world headquarters.

"This hotel development brings together the best of both brands to offer an incomparable guest experience," said Steve Schlundt, Chief Operating Officer of CSM's lodging and residential divisions. "The proximity to Microsoft's campus presents an ideal opportunity. By developing both extended and non-extended-stay hotels, we are able to better meet customers' needs. We look forward to working side-by-side with Starwood Hotels & Resorts to bring this innovative concept to the Redmond area."

The Aloft and Element hotel development will boast a prime location within Esterra Park, a campus-style, master-planned development with 1.2 million square feet of commercial office space, 1,400 residential units and a Link light-rail station slated to open in 2023. Easily accessible from the I-5 Freeway, the hotels are close to both Redmond's shopping district and downtown Bellevue. Aloft Redmond and Element Redmond will face a common courtyard and will each feature separate branded lobbies. Shared facilities will include 6,500 square feet of state-of-the-art meeting space, an outdoor pool, a fitness facility and parking.

Aloft Redmond will offer leading-edge design, loft-like rooms, accessible technologies and amenities including Re:fuel by Aloft®- a one-stop grab & go food and beverage area, and W XYZ® bar, which will feature local emerging artists as well as some of the hottest bands with Live at Aloft Hotels programming. Aloft remains one of the fastest growing hotel brands, with the company's second largest pipeline.

Element Redmond will offer a fresh perspective on extended stay lodging, with light-filled studios featuring a fluid design, fully equipped kitchens and spa-inspired bathrooms. Guests can stay on the move with the Element brand's complimentary bikes to borrow and enjoy the brand's signature Rise breakfast and Relax evening reception.

Aloft and Element Redmond will join several other similar developments worldwide, including Aloft and Element Lexington, Aloft and Element Boston Seaport (2016), Aloft and Element Dallas Love Field (2016), Aloft and Element Columbus (2017) and Aloft and Element London Tobacco Dock (2017).

"We are experiencing growing demand for dual-branded Aloft and Element hotel developments in major metropolitan markets throughout North America and beyond," said Allison Reid, Senior Vice President, North America Development for Starwood Hotels & Resorts. "Both Element, which is on track to more than double its number of rooms by 2017, and Aloft, which just crossed its 100 th hotel milestone worldwide, offer unique, sought after experiences."

About Aloft Hotels

With 100 hotels open now in 16 countries around the world, Starwood's Aloft® brand delivers a fresh approach to the traditional staid hotel landscape. For the 'always on' next generation of traveler, the Aloft brand offers a tech-forward, vibrant experience and a modern style that is different by design. For more information, please visit  www.alofthotels.com. Aloft, like all brands within Starwood's portfolio, is proud to offer the Starwood Preferred Guest® program, the industry's richest loyalty program. To learn more, please visit  www.spg.com.

About Element Hotels

Element® Hotels offers extended stay comfort for those who are passionate about the planet and their own wellbeing. Stylish and sustainable throughout, Element's bright design defies convention, bathing guest rooms and public spaces in natural light. To date, there are 18 Element Hotels worldwide, with 16 in North America, one in Europe, one in Asia Pacific with new domestic and international hotels in development. To learn more, visit www.elementhotels.com/experience. Stay Connected to Element on facebook.com/ElementHotels.

About CSM Corporation

Founded in 1976,  CSM Corporation is the one source for the real estate needs of people, businesses and communities. The company develops, owns and manages places where people work, visit and live. CSM's expansive reach in  retailoffice and industrial properties includes more than 9 million square feet of commercial space. Its hospitality arm features a portfolio of 39 hotels totaling more than 5,400 rooms. On the residential side, CSM offers property management for 17 apartment communities. CSM Corporation is known for its commitment to treating customers and associates with integrity and respect, as well as a commitment to the communities in which they live and work. For more information on CSM Corporation, visit  www.csmcorp.net or visit us on Facebook at  https://www.facebook.com/CSMCorporation.

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