Starwood to open new hotel in China

Starwood Hotels & Resorts and Ningbo East Seaport Hotel Ltd., Corp have announced an agreement whereby Starwood will manage the Sheraton Ningbo Hotel in China. This newly built 381-room Sheraton Ningbo Hotel is scheduled to open in July 2006.

"With a recorded history of 5,000 years, China offers visitors a great variety of enchanting natural landscape, brilliant history, rich history and fascinating destinations. It is no wonder China is a top destination for business, leisure, conference and incentive delegates from around the world. Travelers can select from a range of fine Starwood properties in the capital city of Beijing, resort haven of Hainan, cultural and business destinations in Xian, Chengdu, Guilin, Wuxi, Tianjin, Nanjing, Dongguan, Suzhou, bustling metropolis of Shanghai, and soon in one of the three cities that makes up the Golden Triangle of China, Ningbo" said Miguel Ko, President, Asia- Pacific, Starwood Hotels & Resorts, Worldwide

"We are honored to partner with Ningbo East Seaport Hotel Ltd., Corp to establish the Sheraton Ningbo Hotel which will be the first five star international hotel to open in Ningbo," added Ko.

Starwood Hotels & Resorts has expanded its portfolio in China significantly since last year with the opening of Sheraton hotels in Sanya on Hainan Island, Dongguan in the Guangdong province and Jiuzhaigou in Sichuan province. The hotel also recently signed for the development of a new hotel in Shenzhen this month.

Located in Zhejiang Province of China, Ningbo is China's second biggest port and the ninth largest in the world. Ningbo is also popularly known as one of the three cities that makes up the Golden Triangle of China, an area comprising the main  cities of Shanghai, Hangzhou and Ningbo.

As China's fourth wealthiest city, Ningbo offers extensive and varied sightseeing experiences, and is the closest point of departure for Putuoshan, one of the top scenic attractions of China. Since 2002, more than 7,000 foreign investors have poured into Ningbo with a total investment exceeding US$20 billion. The combination of Ningbo's access to international waterways on one hand, and the incredible concentration of production capabilities in the area on the other, have fueled a consistent double digit growth, 30% to 40% higher than the national average last year. Ningbo is expected to experience an annual Gross Domestic Product growth rate of 11% for the next 5 years. The new Hangzhou Bay Bridge will span a  total length of 36 kilometres, making it the longest in the world. When completed in 2008, it will reduce traveling time by road from Ningbo to Shanghai to around two hours.

Sheraton Ningbo Hotel is located in Ningbo's Central Business District and is designed by world renowned architect, John Portman with the hotel's interior designed by master designer Bilkey Associates. The hotel is part of a multi-purpose complex that houses the hotel in one tower, offices in another and condominiums in the next and a retail podium.

The hotel will feature 381 rooms and close to 2,000 square meters of meeting and function space for medium to large sized meetings or group activities. The hotel facilities will also include four dining outlets, sports and recreational facilities, a health club and spa, an indoor swimming pool and retail center.