Starwood Capital Group and Marine Drive Properties announce 1 Hotel Vancouver Island at Wyndansea

First Eco-Luxury Global Hotel Brand, a Perfect Fit for Wyndansea Oceanfront Golf Resort, home to the Jack Nicklaus Golf Club of Canada

Ucluelet, Vancouver Island, BC (JUNE 2008) -- Starwood Capital Group LLC and Marine Drive Properties Ltd. CEO, Elke Loof-Koehler, announced today the development of the landmark hotel-condominium at Wyndansea Oceanfront Golf Resort, home to the Jack Nicklaus Golf Club of Canada. The property is located on the west coast of Vancouver Island, British Columbia adjacent to the Pacific Rim National Park and will be known as the 1 Hotel Vancouver Island at Wyndansea. 1 Hotel and Residences is the first global hotel brand to combine the best of environmentally sustainable architecture and interior design with impeccable service and luxurious comfort.

Located at the edge of the Pacific Ocean, the 1 Hotel site is the premier hotel property within Wyndansea Oceanfront Golf Resort, the 370-acre master planned resort that features a Jack Nicklaus Signature golf course. The vision for Wyndansea, including the $200 million oceanfront hotel-condominium integrates sustainable design practices as part of a commitment to the environment and responsible living. Marine Drive Properties has designed the entire resort to meet LEED Gold Certification, the global rating system that is the benchmark for energy and environmental design.

The 1 Hotel includes 180 hotel-condominium suites and 95 Beach and Golf Villas. The 1 Hotel will feature a full-service eco-conscious spa, fitness facility and salt water pools. The restaurant and wine bistro will feature locally sourced foods and wine. Other resort amenities are expected to include a deep-water marina for luxury yachts and seaplane service from downtown Vancouver, a resort clubhouse, and the Wild Pacific Trail.

“The 1 Hotel brand aligns perfectly with Ms. Loof-Koehler’s iconic master plan development at Wyndansea. We share a passion for style and luxury derived through sustainable design,” said Barry Sternlicht, Chairman & CEO of Starwood Capital Group, whose company owns and operates more than 800 hotels worldwide. "As I watch my children grow up and become responsible citizens, I have become more cognizant of what we are leaving behind and the personal responsibility we all share to help preserve and protect our environment. It is the perfect time for 1 and Wyndansea is the perfect place.”

The 1 Hotel brand is the brainchild of Barry Sternlicht who, during his time as CEO of Starwood Hotels & Resorts, was credited with the revitalization of Westin Hotels & Resorts (led by innovations such as the Heavenly Bed) and the brand development of both St. Regis Hotels and “W” Hotels. The new Vancouver location will join a growing list of properties developing 1 Hotels around the world, including Seattle, New York City, Scottsdale and Washington DC.

“The addition of the 1 Hotels and Residences brand will confirm Wyndansea’s position as an international eco-luxury resort,” said Loof-Koehler who was attracted to the beauty of Canada’s west coast and its development potential in the 1990’s. “Marine Drive Properties has always been committed to sustainable development, and we are very happy to have found a hotel brand that shares our respect for the planet and its people.”

The Jack Nicklaus Signature Golf Course will be a Certified Signature Sanctuary with Audubon International, which is dedicated to educating, assisting, and inspiring millions of people from all walks of life to protect and sustain the land, water, wildlife, and natural resources around them.  "Elke and the team at Wyndansea have been diligent in all aspects of the project, especially the golf course, to protect and enhance Ucluelet's natural environment," Jack Nicklaus said. "The introduction of 1 Hotels is further evidence of her commitment to an environmentally responsible approach."

Wyndansea was envisioned in strategic alliance with S&P Destination Properties, a world leader in the design, marketing and sales of resort and luxury real estate. “Wyndansea is one of the most stunning oceanfront sites in the world and a partnership with Starwood Capital Group’s 1 Hotel will make 1 Hotel Vancouver Island at Wyndansea a world leader in sustainable luxury real estate,” said Sid Landolt, President of S&P Destination Properties. Customer generation has now begun for the initial release of 1 Hotel condominium suites. A small collection of the resort’s most exclusive home sites is available today.

Additional information regarding Wyndansea is available at www.wyndansea.com or call 1-888 898-8568.

About Marine Drive Properties

Marine Drive Properties Ltd. is a privately owned corporation focused on Resort and Residential Development. Ms. Loof-Koehler has been creating superior real estate developments in British Columbia interior and Vancouver Island since 1990. Her most recent projects are located on the West Coast of Vancouver Island in the Village of Ucluelet. Tauca Lea Resort and Spa, an 81-suite Strata Resort with Restaurant and Spa, and Marine Drive Properties’ 100-acre Oceanfront Resort Development ,which includes a comprehensive strategy incorporating a 132-suite oceanfront hotel, residential, resort and vacation homes.

www.marinedriveproperties.com; www.wyndansea.com

About STARWOOD CAPITAL GROUP GLOBAL LLC

Starwood Capital Group Global, LLC is a privately-held global real estate investment firm based in Greenwich, CT (with its predecessor Starwood affiliates “Starwood”).  Founded in 1991, Starwood specializes in the creation and acquisition of real estate-related investments on behalf of commingled investment vehicles that are sponsored and created by Starwood or its affiliated entities.  Such real estate-related investments include residential and commercial land development, multifamily, hotel, office, retail, mixed-use, industrial, health clubs, golf and mezzanine debt. Starwood’s clients include public and private retirement programs, university endowments, foundations, international and high net worth investors. During the past sixteen years Starwood and its affiliates have invested approximately $6 billion of equity capital in transactions representing over $30 billion of asset value. 

Starwood has led the formation and/or growth of several market leading companies including Groupe Taittinger and Societe du Louvre, Europe’s second largest hotel network; iStar Financial (NYSE: SFI), the leading publicly traded finance company specializing in commercial real estate mortgage, mezzanine and net lease financing; Starwood Hotels & Resorts Worldwide (NYSE:HOT), a leading global owner/operator of hotels, Westin Hotels & Resorts which was merged into Starwood Hotels & Resorts Worldwide in January 1998; Equity Residential Properties Trust (NYSE:EQR), one of the premier US multifamily REITs; and National Golf Properties/American Golf Corporation, the largest owner/operator of golf courses and related facilities in the U.S., who, together with its private sister company, owned, leased or managed 255 golf courses.

www.starwoodcapital.com ; www.1hotels.com

About S&P Destination Properties

S&P Destination Properties, LLC is an international full-service real estate company that specializes in the envisioning, design, marketing, sale and customer service for resort and luxury real estate properties.  S&P is committed to bringing the finest real estate in the finest places on earth to those who appreciate the irreplaceable experiences that come with ownership.

www.sprealestate.com