Starwood opened record number of hotels in 2015
Starwood said it had its strongest ever year of organic openings in 2015, adding about 22,500 rooms to its portfolio
Starwood Hotels and Resorts Worldwide has announced that it signed 220 hotel management and franchise agreements in 2015, representing a 26% increase year-on-year.
This is the sixth consecutive year of increased signings and the most incremental signings in its history for the company.
It opened a record 105 hotels in 30 countries in 2015, Starwood said in a statement, with the select serve or mid-market segment driving the signings, accounting for slightly more than 50%.
In the upper-upscale segment, Sheraton, Starwood’s largest brand, saw signings up by more than 40% compared to 2014.
Thomas Mangas, CEO, Starwood Hotels & Resorts Worldwide, Inc. commented: "As we begin 2016 and work towards our merger close with Marriott to become the world's largest hotel company, we will continue to vigourously compete in the marketplace, deliver value to our owners, delight our guests and grow our brands into new markets around the world."
While Four Points by Sheraton continues to maintain the company’s largest pipeline, Aloft experienced considerable growth last year with a 65% increase in signings over the prior year.
In the luxury and lifestyle segment, Starwood signed 29 deals across its St. Regis, The Luxury Collection and W Hotels brands, an increase of almost 40% over 2014.
The company's newest brand, Tribute Portfolio, which launched in Q2 2015, finished the year with 16 hotels either operating or with signed agreements.