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"We believe that this partnership will benefit from Starwood Capital Group's global investment expertise and world-class marketing and revenue management capabilities, together with Shimao's impressive domestic development track record, strong brand recognition and expansive partner network. As one of the world's fastest-growing economies, with a large and growing middle class with increasing disposable income, China represents an exciting market for us, and we are looking forward to meeting Chinese consumers' rapidly evolving lodging needs through this partnership." Morgan Stanley, sole financial advisor in the transaction, was instrumental in bringing together the parties and facilitated reaching the agreement. About Shimao Hotels & Resorts As a wholly-owned subsidiary of Shimao Group, a leading real estate developer in China, Shimao Hotels & Resorts was founded in 2009 and is assigned to operate, manage and develop all of the affiliated hotels and resorts. Shimao Hotels & Resorts has expanded its footprint across the hospitality sector by working in partnership with world-known hotel management companies, among them, Starwood Hotels & Resorts Worldwide (Marriott), Hyatt Hotels & Resorts, InterContinental Hotels Group and Hilton Hotels and Resorts.In additional to partnerships with international hospitality groups, Shimao Hotels & Resorts is committed to developing its own hotels as part of its strategic development, including Yu Resort, Yuluxe Hotel, Yu Hotel, Yu Residence, MiniMax Premier and MiniMax. Shimao Hotels & Resorts operates 20 international and homegrown luxury hotels in China with approximately 6,500 rooms available worldwide. About Starwood Capital Group Starwood Capital Group is a private alternative investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain nine offices in three countries around the world, and currently have more than 2,000 employees. Starwood Capital Group has raised over $37 billion of equity capital since its inception in 1991, and currently manages approximately $52 billion in assets.
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