Starwood outlines strongest H1 signings since 2008
North America accounts for 40% of new signings for Starwood
Starwood Hotels & Resorts achieved its strongest first five months of the year for deal signings since 2008.
North America accounted for nearly 40% of new signings, and development highlights include a 30% increase in deal signings for Starwood’s select brands, which include Aloft, Element, and Four Points by Sheraton.
Starwood Hotels & Resorts interim CEO Adam Aron commented: “We are putting an even brighter spotlight on our world-class hotel brands as we work to accelerate the pace of our growth, better serve our guests, and offer more hotel options to more guests in more places than ever before.”
This year, Starwood will open its 600th hotel in North America, which remains the company’s largest market.
The group will also open more hotels in Europe this year than it has in any other year since 2006. The group will also surpass its 300th hotel mark in Asia Pacific, more than tripling its portfolio in the region over the last decade.
Starwood Hotels & Resorts president of global development Simon Turner said: “2015 is off to a strong start with Starwood outpacing the number of new hotel deal signings as compared to the last six years. We strive to be the partner of choice by delivering a differentiated guest experience and ensuring we have the most developer-friendly and flexible approach to maximize value for our owners’ assets.”
The group is driving growth through its mid-market brands Aloft, Element, and Four Points by Sheraton, which together crossed the 300 hotels mark this year, and accounted for nearly half of Starwood’s hotel openings in 2014.
The group expects to open another 30 hotels under the three brands this year.
The group’s luxury brands – St. Regis, and The Luxury Collection – will also open more hotels in 2015 than any year since 2001.
The group’s lifestyle brand W Hotels will open new hotels in Dubai, Abu Dhabi, Shanghai, Goa, Panama, Kuala Lumpur, Muscat, Bellevue, Suzhou, Chengdu, Brisbane, and Philadelphia in the next three yea4rs.
Westin, which crossed the its 200th hotel milestone in 2014 will add another 10 hotels to its portfolio by 2015.
The Le Meridien brand is expected to open nine new properties this year, nearly all in Asia Pacific destinations such as Bangladesh, Bhutan, China, and Malaysia.
Starwood also has ambitious plans for its recently-launched 10th brand, Tribute Portfolio. The brand has announced plans to introduce the brand to North Carolina, Tennessee, Georgia, and South Carolina in the United States.
The first property under the brand – Royal Palm South Beach Miami – opened earlier this year.