More than $60 million of residential real estate sold in Napa,

setting local real estate sales record and showcasing community’s bright future

Napa, California – The Westin® Verasa Napa Residences, Napa’s first branded, condo-hotel sold out its first release of 100 suites at over $60 million within the day, marking the largest project release in Napa’s history. The total unit sales mark the largest project release in Napa’s history and nearly doubles the Napa Valley’s total condo sales for the year. The record-making success was announced today by Playground Destination Properties Inc., the real estate marketing company managing sales on behalf of developer, Intrawest Placemaking.

Starwood Hotels & Resorts Worldwide, Inc.® (NYSE: HOT) partnered with Intrawest Placemaking, a world leader in destination resorts and adventure travel, to bring this spectacular, whole-ownership, luxury condominium hotel to America’s premier wine region, with an opening scheduled for summer 2008.  With a renaissance underway in the City of Napa, The Westin Verasa Napa Residences represent an impressive cornerstone of the exciting, new riverfront district development, bringing a refuge for personal renewal to the area.

“We have witnessed eager anticipation grow into overwhelming demand for this unique destination property,” said Benno Nager, VP Development Intrawest Placemaking. “Intrawest pioneered the condo-hotel concept decades ago, but this is the first of its kind in the Napa Valley. Owners can now own a piece of what will feature the city’s hottest dining experience, a landmark Westin hotel and conference center for the Napa Valley.  Breaking all the previous downtown real estate sales records is just another great milestone for this exciting project.”

The Westin Verasa Napa Residences is the first full-service property of its kind to be introduced to Napa in nearly five years. The hotel broke ground on November 4th, and when completed will consist of 160 suites, including 38 spacious two-bedroom suites, 72 one-bedroom suites and 50 studios opening winter 2008/2009.

Designed to reflect and embrace the natural and architectural influences of the Napa region, the property will feature bay windows, timbered elements and accents of stone, concrete and wood, highlighting the exterior structure. Attractions in the Napa Valley include touring the area’s renowned wineries, golfing at Napa’s distinctive courses, and even hot air ballooning to view the valley’s breathtaking vistas.

“Owners and guests of Westin Verasa Napa Residences will relish not only the majestic beauty and diversity of recreational experiences in the Napa Valley, but also the opportunity to renew body and soul, characterized by extraordinary service and the gentle influences of nature,” said Sue Brush, senior vice president of Westin Hotels & Resorts.

The grounds will offer a stunning retreat, featuring an expansive pool courtyard, a bocce ball courtyard, a Zen courtyard, beautifully manicured landscaping and a south wing that opens to the Napa River. The property will also feature a four-star restaurant, a spacious wine bar, and over 5000 square feet of meeting and conference space. A pool, hot tub, fitness center, valet and concierge service, and easy access to river paths are but a few of the indulgences awaiting Napa’s newest residents.

The Westin Verasa Napa Residences is located next to the Oxbow Public Market, which broke ground in late September. This 40,000 square foot marketplace includes a scenic outdoor deck with seating along the Napa River, and a diverse mixture of local food vendors, artisan cafes and organic farm stands.

“The Westin Verasa Hotel will deliver the upscale travel experience many visitors to the Napa Valley desire.” Says Napa Mayor Jill Techel. “With its location on the Napa River Parkway and in Downtown Napa’s Cultural Arts District, it will become a great place to experience the wine country’s fine dining, wine tasting, shopping and arts activities. The Westin Verasa is an important addition to Napa’s downtown vibrant riverfront scene.”

The Westin hotel will be managed by Intrawest Hospitality Management under a licence arrangement with Starwood Hotels & Resort. The Westin Verasa Napa Residences will be the fifth Westin property managed by Intrawest Hospitality Management, joining The Westin Trillium House at Blue Mountain in Ontario and The Westin Resort and Spa at Tremblant, Quebec, as well as two additional projects still under construction - The Westin Monache in Mammoth Lakes, California, expected to open in fall 2007, and The Westin Imagine Orlando Residences in Orlando, Florida slated to open in early 2008.

IHM is a world class hotel operator, delivering exemplary service by focusing on three constituents: owners, guests and associates. The company is highly sales driven, recognizing that achieving outstanding top-line results is the first step to exceeding expectations. Leveraging its track record, expertise and superior competitive intelligence, IHM is committed to providing a truly extraordinary Westin experience.

Owners will benefit from Intrawest’s commitment to offering exceptional homes in alluring destinations, by being treated to exclusive attention from the Residences Owner Experience Manager. Services provided include Suite reservations and pre-arrival planning, 24 hour experience management, and a liaison with hotel operations for special requests including personal event planning , all in complement to Westin’s exceptional service and signature amenities. 

From its inception, the City of Napa and its business and residential community embraced The Westin Verasa Napa project as an important partner in contributing to the region’s resurgence. Intrawest, Westin and the City of Napa are proud to welcome the new home owners to Napa and look forward to the pending release of the remaining suites.

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About Intrawest
Intrawest is a world leader in destination resorts and leisure travel.  The company has interests in ten resorts at North America’s most popular mountain destinations including Whistler Blackcomb, a host venue for the 2010 Winter Olympic and Paralympic Games. The Intrawest network also includes IHM, Canadian Mountain Holidays, the largest heli-skiing operation in the world, Sandestin Golf and Beach Resort in Florida and Club Intrawest – a private resort club with nine locations throughout North America. In addition, 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 ALOFT(SM) and ELEMENT(SM) 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. To learn more about Playground visit www.playground.com.