Starwood Hotels & Resorts to Strengthen Lead in Mexico and Expand Footprint by 30 Percent
Will Increase Luxury Hotel Count by 50 Percent Throughout Next Three Years
STAMFORD, Conn. - (BUSINESS WIRE) - July 19, 2013 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today plans to expand its hotel portfolio in Mexico by 30 percent, emphasizing the important role the country plays in Starwood's Americas growth strategy and its prominence in the global travel market. Starwood continues to lengthen its lead as the largest operator in the upper-upscale hotel segment in Mexico with eight new hotels in its development pipeline that will add nearly 1,100 rooms. Mexico is Starwood's largest market in Latin America with 24 hotels and a total of 4,800 rooms, representing eight of the company's nine brands including the recently launched Aloft brand, which made its debut in Cancun.
"Mexico has been a central part of our strategy in the Americas for many years, and we are pleased to see an upswing in the country as U.S. tourists return and business travel picks up," said Frits van Paasschen, President and CEO, Starwood Hotels & Resorts. "We are seeing strong demand for new hotel development across all of our brands and have the largest pipeline we have had in the country since before the global economic crisis."
van Paasschen continued: "Mexico is illustrative of the trends we are seeing around the world as rising wealth and ever greater global connectivity fuel new demand for travel along with new travelers. In fact, in the past three years we have more than doubled our base of active SPG members in Mexico, and they are seeking ever more global and diverse destinations."
Leading Luxury Footprint
Starwood currently has eight luxury hotels in Mexico, more than in any other Latin American market between its St. Regis, W and The Luxury Collection brands, and the company will expand its luxury portfolio in the country by 50 percent over the next three years to meet increasing demand. Hotels under development include:
- W Santa Fe located in the desirable Santa Fe business district with spectacular views of the Popocatepetl and Iztaccihuatl volcanoes.
- W Retreat Kanai Riviera Maya nestled on the eastern coast of Mexico's Yucatan Peninsula; the first W resort in the region.
- The St. Regis Kanai Riviera Maya, which will bring the brand's bespoke style of luxury to the resort area and represent the brand's third hotel in Latin America, joining St. Regis Mexico City and St. Regis Punta Mita.
- Frida Kahlo® Guadalajara, A Luxury Collection hotel in Guadalajara, marking the brand's entry into this growing city.
Growth Across Portfolio
"Starwood is ideally positioned to take advantage of positive trends given our robust and growing footprint in Mexico where we have been present for more than 40 years," said Osvaldo Librizzi, Co-President Starwood Hotels & Resorts Americas. "Mexico will continue to be a focal point of our expansion strategy in Latin America where we are on track to have 100 hotels in operation and development by the end of 2013."
In the next three years, Starwood will open four specialty-select brand hotels, including two new Aloft hotels in Merida, Guadalajara and two Four Points by Sheraton hotels in Queretaro and Cancun.
SPG Partnership with Aeromexico Club Premier
As part of its commitment to deliver benefits beyond the guestroom to SPG members, Starwood also announces a global partnership with Aeromexico Club Premier, the frequent flyer program associated with Aeromexico, the national airline of Mexico. The new program, which launches on July 15th, will allow Club Premier Members to transfer points from their SPG account to their Club Premier accounts in order to convert them into Premier Kilometers.
Aeromexico operates non-stop flights to/from prominent gateways around the world, including major U.S. markets, London, Madrid, Paris, Shanghai, and Tokyo, in addition to all the business capitals throughout Latin America, making it an ideal partner for Starwood. For more information please visit SPG.
For more information on Starwood Hotels & Resorts please visit: http://www.starwoodhotels.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 1,146 properties in nearly 100 countries and 171,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry's leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.
(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.)
Source: Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts
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