STAMFORD, Conn. - January 6, 2016 - (BUSINESS WIRE) - Starwood Hotels & Resorts (NYSE:HOT) today announced it closed 2015 with 220 new signed hotel management and franchise agreements, a 26% increase over the prior year, marking the sixth consecutive year of increased signings and the most incremental signings in its history. The company also opened a record of 105 hotels in 2015, representing approximately 22.5k rooms in 30 countries, also the highest number of openings in its history.
“Our continued commitment to brands, design and innovation this past year allowed us to accomplish much on behalf of our shareholders, which is a true testament to the great work of our associates and something our team should be proud of,” said Thomas Mangas, Chief Executive Officer of Starwood Hotels & Resorts Worldwide, Inc. “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.”
“This was a remarkable year of record-breaking growth for Starwood Hotels & Resorts with the highest number of both signings and organic openings in any single year in the company’s history,” said Simon Turner, President of Global Development. “We continued to enjoy balanced growth across both mature and emerging markets and across all of our brands, with a notable increase in the number of conversions. Approximately one-third of our openings in 2015 were conversions.”
The select serve or mid-market segment drove last year’s signings, accounting for slightly more than 50%. While Four Points by Sheraton continues to maintain the company’s largest pipeline, Aloft experienced incredible growth momentum last year with a 65% increase in signings over the prior year. At the same time, Starwood lengthened its lead in the luxury and lifestyle segment, with 29 deals across its St. Regis, The Luxury Collection and W Hotels brands, an increase of almost 40% over the prior year. The company continues to see luxury demand in all corners of the world with new hotels coming to sought-after destinations like Dubai, Maldives, Punta de Mita and Shanghai, following flagship openings last year in Amsterdam, Mumbai, and Prague. In the upper-upscale segment, Sheraton, Starwood’s largest and most global brand, had signings that were up over 40% compared to the prior year. The company’s newest brand, Tribute Portfolio, which launched in Q2 2015, finished the year with 16 hotels either operating or with signed agreements.
Starwood’s strongest year of organic openings in history allowed the company to reach the following milestones in 2015:
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 1,270 properties in some 100 countries and over 180,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences under the renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Tribute Portfolio™, Four Points® by Sheraton, Aloft®, Element®, along with an expanded partnership with Design Hotels™. The Company also boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG®). Visit www.starwoodhotels.com for more information and stay connected @starwoodbuzz on Twitter and Instagram and facebook.com/Starwood.
Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Further results, performance and achievements may be affected by general economic conditions including the impact of war and terrorist activity, natural disasters, business and financing conditions (including the condition of credit markets in the U.S. and internationally), foreign exchange fluctuations, cyclicality of the real estate (including residential) and the hotel and vacation ownership businesses, operating risks associated with the hotel, vacation ownership and residential businesses, relationships with associates and labor unions, customers and property owners, the impact of the internet reservation channels, our reliance on technology, domestic and international political and geopolitical conditions, competition, governmental and regulatory actions (including the impact of changes in U.S. and foreign tax laws and their interpretation), travelers’ fears of exposure to contagious diseases, risk associated with the level of our indebtedness, risk associated with potential acquisitions and dispositions and the introduction of new brand concepts and other risks and uncertainties. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. There can be no assurance as to the development of future hotels in the Company’s pipeline or additional vacation ownership units. Although we believe the expectations reflected in forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results 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.
Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc.