Starwood’s North American Development Continues to Drive Company’s Global Growth
North American Hotel Signings Up More Than 50 Percent Year-Over-Year; Specialty Select Brands Represent over 80 Percent of North American Signings Year-to-Date
NEW YORK - June 5, 2016 - (BUSINESS WIRE) - From the 38th Annual NYU International Hospitality Industry Investment Conference, Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced a more than 50 percent increase in North America signings year to date over the same period in 2015. North America remains the company’s largest market, accounting for nearly half of its operating portfolio and a third of Starwood’s pipeline of new hotels.
“We saw strong global signing momentum in the first five months of the year across all brands and all divisions, and that encouraging pace continues. North American signing activity has been particularly good especially for the company's Select Service brands: Aloft, Element and Four Points,” said Simon Turner, President of Global Development for Starwood Hotels & Resorts Worldwide, Inc. “Owners continue to actively pursue growth by associating with Starwood's world-class brands and that enthusiasm is expected to be further enhanced when Starwood merges with Marriott.”
“North America continues to be one of our strongest global markets due to the phenomenal success and widespread appeal of our distinct lifestyle brands,” said Allison Reid, Senior Vice President of North America Development for Starwood Hotels & Resorts Worldwide, Inc. “We are excited about the strong demand we are seeing for our upscale brands and the out-of-the gate traction and interest for our newest brand, Tribute Portfolio.”
Starwood Strengthens North America Footprint through Expansion of World-Class Brands
Developers and owners are increasingly choosing Starwood’s Specialty Select brands due to the success of their distinct lifestyle positioning and innovative programming, as well as for their widespread appeal among today’s international traveler, flexible development approach and strong regional teams. Starwood’s global pipeline drivers – Aloft, Element and Four Points – account for about 75 percent of planned openings in 2016. After crossing the 100th hotel milestone worldwide last year, Aloft is on track to reach 100 hotels in North America by next year with over 25 new openings in the region. Element remains on track to more than double its global portfolio in the next three years, with hotels opening in Calgary, Canada, and Chandler, Arizona in 2016.
In the luxury and upper upscale segments, Starwood will augment its high-end portfolio this year with several openings in North America. The recent openings of W Miami and The Westin at the Woodlands will be followed by Hotel PUR Quebec; Sheraton Georgetown Texas Hotel; The Westin Nashville; Las Alcobas - a Luxury Collection Hotel in Napa Valley; The Westin Buffalo; and Sheraton Bay Point Resort.. Tribute Portfolio has surpassed all expectations since its launch in April 2015. With three signings in North America in 2016, the brand now boasts 20 properties operating and in the pipeline worldwide – double the growth expectations for the brand’s first year.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 1,300 properties in some 100 countries and over 188,000 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.
SOURCE: Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts