Fast-Growing Four Points by Sheraton Soars in 2010, with Sixteen Properties on Three Continents Set to Debut
Global Growth Follows $1 Billion Rejuvenation of Brand, 70% Turnover of Portfolio
WHITE PLAINS, N.Y. (BUSINESS WIRE) -- A billion-dollar rejuvenation continues to pay off for Four Points by Sheraton, which today unveiled a global pipeline that is set to ramp up its portfolio by 16 properties in 2010. Four Points currently operates 148 hotels in 24 countries.
Gearing up to open its 150th property in the first half of 2010, the Four Points brand has one of parent company Starwood Hotels & Resorts Worldwide, Inc.'s (NYSE: HOT) most robust pipelines. In 2010 eight new Four Points properties are slated to open in established North American markets and another eight set for international business and leisure travel hubs in Asia and Africa.
"Four Points by Sheraton continues to experience meaningful growth around the world based, in part, on the flexibility of the brand that makes it an appealing option in a variety of markets and settings," said Simon Turner, President of Global Development. "For example, in 2010, we will debut the brand with new-build hotels in Nigeria, Bangkok and Phuket. While in North America, where the brand already enjoys market leading presence, we are seeing growth through conversion and adaptive reuse projects."
In China, three Four Points properties are expected to open in the coming year in Lianyungang, a center of international trade known as China's "east-west freight corridor"; the port city of Taicang, whose thriving economy boasts investment projects from the US, UK, and Germany; and Tai'An, home to spectacular Mount Taishan, a UNESCO World Cultural and Natural Heritage site.
"Guests consistently tell us how much they appreciate the great value and stylish comfort of Four Points , especially at a time when travel can be so challenging," said Brian McGuinness, Senior Vice President of Specialty Select Brands for Starwood. "The brand's powerful global growth proves that travelers find simple pleasures like a great local craft beer at the end of a long day, free bottled water, free and fast WiFi, and a great night's sleep universally appealing."
Four Points is also scheduled to debut in key markets like Lagos, Nigeria, Bangkok, and the popular Thai resort island of Phuket. In Canada, Four Points will open hotels this year in Niagara Falls, Ontario; Saskatoon, Saskatchewan; and Calgary, Alberta. Domestically, properties are planned for markets including San Jose, CA; Oklahoma City, OK; Memphis, TN; and Long Island City, NY.
The Four Points brand's explosive growth follows a $1 billion rejuvenation of the brand. Major renovations, conversions, and new-build hotels have led to a remarkable 70 percent turnover in the Four Points portfolio over the last five years.
About Four Points by Sheraton
Four Points by Sheraton, with 148 properties in 24 countries, offers the self-sufficient traveler a new kind of style and comfort combined with a spirited "can-do" service - all at an honest value. Four Points by Sheraton hotels are located in easy-to-reach areas - close to major airports, suburban centers, urban hot spots and resort and vacation destinations.
Four Points by Sheraton Hotels, like all brands within Starwood's portfolio, is proud to offer the Starwood Preferred Guest(R) program, which made headlines when it launched in 1999 with a breakthrough policy of no blackout dates on Free Night Awards. To learn more, please visit www.spg.com.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world, with 992 properties in almost 100 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Méridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched Aloft(R), and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts.
(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.)
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SOURCE: Starwood Hotels & Resorts Worldwide, Inc.