Starwood Hotels end 2014 with 74 openings
Starwood Hotels & Resorts Worldwide, Inc. today announced it opened 74 new hotels in 2014, representing approximately 15,000 rooms in 26 countries. The company also signed 175 new hotel management and franchise agreements in 2014, a 15% increase over the prior year, marking the fifth consecutive year of increased signings and the most new deals in one year since 2007. Starwood anticipates another year of solid growth in both mature and emerging markets in 2015, fueled by hotel openings and high-quality deal signings.
“With more than 1,200 hotels in 100 countries, we’re on the frontlines of global change and continue to see increasing demand for innovative, design-led brands, playing to Starwood’s strength,” said Frits van Paasschen, President and CEO of Starwood Hotels & Resorts Worldwide, Inc.
Hotel Opening Momentum Continues
Building on its strong signing year, Starwood continues to grow in all corners of the world across all of the segments where it operates with plans to reach the following milestones in 2015:
- 300th hotel in Asia Pacific and China
- 150th hotel in China (with all nine brands represented)
- 90th hotel in Africa and the Middle East
- 175th Luxury hotel
- 750th Upper Upscale hotel
- 300th Mid-Market hotel
“Our balanced growth approach continued in 2014 with consistent, organic signings across all nine of our brands,” said Simon Turner, President of Global Development for Starwood Hotels & Resorts Worldwide, Inc. “Looking ahead, emerging markets remain a focus for us, but recovering economic conditions and increased availability of financing have also led to strong growth in North America and Europe.”
Turner continued: “North America accounted for more than one third of our signings last year, and the availability of new construction lending resulted in a more than 50% increase in new-build hotel signings over the previous year. Globally, we renewed or extended 76 of our existing agreements with owners in 2014, underscoring the strength of our brands, loyalty program, operating teams, and systems. We remain focused on working with the right partners, on the right properties, in the right places, and our agile development approach allows us to adapt our growth strategies based on specific geographies and brand needs for both new development and conversion projects either managed or franchised.”
Starwood Widens its Lead in Luxury
With one of the fastest growing luxury portfolios under its St. Regis, The Luxury Collection and W brands, Starwood is lengthening its lead in luxury hospitality. Building on its base of more than 170 of the world’s most beautiful and iconic hotel experiences, Starwood expects to open more than 25 luxury hotels over the next two years adding to the 12 new luxury hotels which debuted last year. This pace continues to accelerate to meet increasing demand for luxury in all corners of the world.
In 2014, W Bogota marked the brand’s entry into Colombia, while The Luxury Collection brand added seven new hotels to its portfolio including La Posada de Santa Fe in New Mexico, Excelsior Hotel Gallia in Milan and The Castle Hotel in Dalian, China. In 2015, Starwood is on track to add more than 10 luxury hotels to its portfolio, including St. Regis hotels in Istanbul, Macao, Dubai and Mumbai, The Luxury Collection properties in Nanjing, China; San Antonio, Texas; and Broumana, Lebanon, and W openings in Amsterdam, Netherlands and Goa, India.