The whole-ownership condominium-hotel is the latest development to break ground in the emerging Oxbow District in the heart of America’s wine capital

 

WHITE PLAINS, N.Y.– Starwood Hotels & Resorts Worldwide, Inc.® (NYSE: HOT) and Intrawest ULC announce the ground-breaking of The Westin® Verasa Napa Residences, one of the largest private developments in the city’s evolving riverfront community. The property is owned by Intrawest and will be managed by Intrawest Hospitality Management Division under a long-term management agreement.

 

The November 4th sod-turning comes just ten weeks after the unique 160-unit full-service development was unveiled to Napa’s civic and business leaders, as well as potential property buyers, at an exclusive reception at the Napa Opera House. The groundbreaking event will take the celebration outdoors for a Napa-style reception, featuring an opportunity to see new vistas from a cherry picker. Condominium reservation holders will also receive their first look at the interior features of the development and the exciting benefits of ownership.

 

“The Westin Verasa represents a tremendous win as it further expands the hotel base in the downtown area, both in the Oxbow District and the Napa Valley. Visitors will now have one more reason to stay and play in America’s wine capital,” said Benno Nager, Vice President of Development for Intrawest. “We are grateful for the support of the community and the City who have supported this condo hotel and our efforts to contribute to both the downtown and Oxbow District story.”

 

A rare real estate opportunity such as The Westin Verasa Napa Residences is the fruition of countless hours of planning and collaboration by the City of Napa and two industry leaders – Intrawest, a world leader in developing resort destinations and Westin Hotels and Resorts®, with world-renowned service executed with effortless style and a gracious attitude. This exceptional partnership between Intrawest and Westin once again brings together the visionary innovators of successful hotels and residences throughout North America.

 

The Westin Verasa Napa will serve as a vital cornerstone for the development of an exciting new district in downtown Napa. The riverfront development will serve to enhance the rich diversity of Napa’s surrounding wineries, growers and culinary culture. The Oxbow Public Market – located next to the development – broke ground on September 28th and is a testament to the emerging region. The 40,000 square foot marketplace, which includes a scenic outdoor deck with seating along the Napa River, will feature a diverse tenant mixture of local food vendors, artisan cafes and organic farm stands. Steve Carlin, founder and CEO of the Oxbow Public Market confirms the significance of the partnership, "We welcome The Westin as a wonderful new addition to the community. Their exciting project is further evidence of the Oxbow District's growing attraction as a destination for tourists and locals alike."

 

“The Westin Verasa Napa’s architecture, design and its infusion of surrounding natural elements into the property are reflective of Westin’s goal of ensuring that guests feel renewed and at their personal best,” said Sue Brush, senior vice president of Westin Hotels & Resorts. “The hotel’s location allows owners to experience and become a part of a truly unparalleled piece of Napa Valley.”

 

Construction on the hotel will begin this year, with a planned opening in 2008. The Westin Verasa Napa will be the first full-service property to come to Napa in nearly five years. The property will also add 5,320 square feet of conference space to the Napa Valley.

 

A downtown Napa presentation center showcases architectural models and interior design samples. For more information about The Westin Verasa Napa, please visit www.westinnaparesidences.com.

 

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About Intrawest ULC

The Westin Verasa Napa is an Intrawest ULC development project. Intrawest ULC has interests in 10 resorts at North America's most popular mountain destinations, including Whistler Blackcomb, a host venue for the 2010 Winter Olympic and Paralympic Games. Intrawest owns Canadian Mountain Holidays, the largest heli-skiing operation in the world, and an interest in Abercrombie & Kent, the world leader in luxury adventure travel. The Intrawest network also includes Sandestin Golf and Beach Resort in Florida and Club Intrawest -- a private resort club with nine locations throughout North America. Intrawest develops real estate at its resorts and at other locations across North America and in Europe. Intrawest is headquartered in Vancouver, British Columbia. For more information, visit www.intrawest.com.

 

About Westin Hotels & Resorts

Westin Hotels & Resorts®, with more than 127 hotels and resorts in more than 31 countries and territories, is owned by Starwood Hotels & Resorts Worldwide, Inc®. Starwood® is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis®, The Luxury Collection®, Sheraton®, Westin®, Four Points® by Sheraton, W®, Le Méridien® and the recently announced aloftSM and ELEMENTSM Hotels. 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 Playground Destination Properties Inc.

Playground Destination Properties Inc. is one of the Playground group of real estate sales and marketing companies. The Playground companies are the premier provider of real estate sales and marketing services for destinations world-wide. With offices spanning the globe in Vancouver, Montreal, Orlando, Reno, Denver, and Lausanne, Playground is dedicated to fulfilling its mission of “connecting people with the ultimate places to play”. Playground provides a unique breadth of offerings from beach and mountain destinations, to golf and urban locations. Playground is currently offering ownership opportunities in world-renowned Whistler Blackcomb–North America’s most popular mountain resort; Honua Kai – the first full-ownership condominium on Ka’anapali Beach, Maui in more than 20 years; and Florida’s Sandestin – 2,400 acres including white sand beaches and world-class golf. Playground Destination Properties Inc. is proud to be the licensed broker for the Westin’s properties in Orlando and Napa Valley, and for the Hard Rock Condo Hotel in San Diego – the hottest new urban location destination.

 

 

(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. 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 and events 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.)

Contact Info:
Heather Kirk , Immedia PR for Playground Destination Properties Inc.
Phone: 888 608 PLAY
heather@immediapr.com