Hotel Firm Rolls out Another International Deal; Will Manage Sheraton in Portugal

WHITE PLAINS-Hoteleira Quinta do Bessa S.A., the developer and owner of the 284-room Sheraton Porto in the city of Porto in Portugal, has agreed to a long term management contract under which Starwood Hotels and Resorts Worldwide Inc. will operate the hotel. The Sheraton Porto is currently under construction and is scheduled to open mid-year 2003.

“The Sheraton brand is, in our view, the strongest international brand, both in Portugal and throughout Europe,” states Mario Vasco Pereira, president of Hoteleira Quinta. “The combination of brand, location, design and physical specifications will enable the Sheraton Porto to command a dominant position in the market.”