- 175 new hotel signings worldwide in 2014, rising continuously for five years in a row
- All nine brands to enter China this year, with a scale of 150 hotels
Stamford, Connecticut, January 8, 2015 /PRNewswire/ -- Starwood Hotels & Resorts Worldwide, Inc.(NYSE: HOT) recently announced that it opened 74 new hotels in 26 countries globally in 2014, adding approximately 15,000 new rooms. The company also signed 175 new management and franchise agreements in 2014, a 15% increase from the previous year, marking the fifth consecutive year of growth in the number of signed hotels and the highest number of signings since 2007. Starwood expects to open and sign more high-quality hotels in both mature and emerging markets in 2015, steadily expanding its global footprint.
Exterior view of The Castle Hotel, a Luxury Collection Hotel, Dalian
The Westin Chongqing Liberation Square – 3rd floor lobby
"We have more than 1,200 hotels in over 100 countries and territories around the world. Today, the market demand for design-driven, innovative brands continues to grow, which helps Starwood expand further," said Frits van Paasschen, President and CEO of Starwood Hotels & Resorts Worldwide, Inc. "Our nine lifestyle brands continue to be recognized by hotel owners, and our customer loyalty program — SPG (Starwood Preferred Guest) — is also highly praised. This program attracts highly valuable guests from all over the world, contributing to more than half of our average occupancy."
New hotel growth momentum remains strong
Building on last year’s strong signing momentum, Starwood continues to expand its presence around the world and plans to achieve the following milestones in 2015:
- 300th hotel in Asia Pacific and China
- 150th hotel in China (all nine brands present)
- 90th hotel in Africa and the Middle East
- 175th luxury hotel
- 750th upper upscale hotel
- 300th upper midscale hotel
"In 2014, we continued to pursue a balanced development approach, with all nine brands achieving steady and sustained growth in the number of signed hotels," said Simon Turner, President of Global Development for Starwood Hotels & Resorts Worldwide, Inc. "Looking ahead, emerging markets remain our focus, while the increasingly recovering economic environment and growing availability of capital in North America and Europe also contribute to the Group’s strong growth."
Mr. Turner added: "Last year, the number of signed hotels in North America exceeded one-third of the total. Due to the greater availability of new lease construction in this region, the number of new hotel signings increased by more than 50% compared to the previous year. In 2014, we renewed or extended 76 existing agreements with hotel owners globally, highlighting the strength of our brands, loyalty program, operations team, and systems. Starwood has always valued like-minded partners and delivering top-tier experiences at the best locations. Whether for new builds or renovations under management or franchise models, Starwood’s flexible development strategy enables growth across various geographies and brand needs."
Starwood expands its leading position in the luxury hotel sector
With the rapid development of luxury brands such as St. Regis, The Luxury Collection, and W Hotels, Starwood has further consolidated its leading position in the luxury hotel market. Starwood owns over 170 of the most beautiful and iconic hotels in the world, added 12 luxury hotels last year, and will welcome 25 more luxury hotels in the next two years. This growth momentum will continue to intensify to meet the rising global demand for luxury hotels.
In 2014, the opening of W Bogotá marked the brand’s official entry into Colombia. Meanwhile, The Luxury Collection added seven new members, including La Posada de Santa Fe, a Luxury Collection Resort & Spa in New Mexico, Hotel Gallia Vittoria, a Luxury Collection Hotel in Milan, and The Castle Hotel, a Luxury Collection Hotel, Dalian in China. In 2015, Starwood plans to add more than 10 luxury hotels, including St. Regis hotels in Istanbul, Macau, Dubai, and Mumbai, Luxury Collection hotels in Nanjing, China, San Antonio, Texas, and Brummana, Lebanon, as well as W Hotels in Amsterdam, Netherlands, and Goa, India.
Growing demand for upper upscale hotel brands
Last year, Starwood’s brands — Sheraton, Le Méridien, and Westin — added 27 new hotels, with another 150 under active development. The iconic Sheraton brand is expected to reach its 500th hotel in 2016, continuing to lead the group’s portfolio and laying a solid foundation for further expansion of other brands in fast-growing markets. Following its entry into Tajikistan last year, Sheraton will make its first appearances in Samoa and Romania, and return to Iraq. Among all Starwood hotels in Asia Pacific, Sheraton accounts for nearly 40%. The brand also leads in Africa and plans to add six more hotels there by 2018.
In 2014, the Le Méridien brand opened flagship hotels in Oak Brook, Chicago, Bahrain, and Bangkok, and signed 18 new hotel agreements, achieving breakthrough growth compared to previous years. Building on this momentum, Le Méridien will add multiple hotels in 2015, aiming to set a new annual record for new openings since its acquisition by Starwood in 2005. In addition to pursuing expansion through renovation projects in mature markets, the brand also plans to open new hotels in India, Bangladesh, and Bhutan to further strengthen its presence in emerging markets.
Westin welcomed its 200th hotel globally in 2014. The successful promotion of the brand’s unique wellness positioning has driven market demand to some extent. In 2015, Westin will open its 125th hotel in North America and its 50th in Asia. The grand opening of The Westin Doha Resort & Spa, the brand’s fourth hotel in the Middle East, marks its official entry into Qatar.
Midscale brands become a key driver of growth
Starwood’s midscale brands continue to show strong momentum. In 2014, the Four Points, Aloft, and Element brands added 35 new hotels and signed 100 new hotel agreements. These three brands account for nearly 40% of Starwood’s global development portfolio. With the growing demand for value international hotel brands in major global city markets and secondary markets, about half of Starwood’s new openings in 2015 will be midscale brands.
Four Points signed a record 50 new hotel agreements in 2014 and plans to add 25 hotels in 2015, bringing its total to over 200. Known as the “best choice for business hotels,” Four Points has become Starwood’s second-largest brand and the fastest-growing core brand, favored by guests worldwide thanks to its flexible development approach.
In 2014, Aloft signed 31 new hotel agreements, setting an annual record high since 2008. Designed for the next generation of travelers, Aloft aims to reach the milestone of 100 hotels open by 2015 and expand its presence in Greater China to 10 hotels by year-end. This year, Aloft will also enter several new markets, including Munich and Stuttgart in Germany.
As Starwood’s eco-conscious brand, Element signed 19 new hotel agreements in 2014 and plans to triple its size by the end of 2017. Following the debut of the first Element hotel outside North America in Frankfurt, Germany, the brand will enter China for the first time in 2015 and subsequently open new hotels in London, Amsterdam, Boston, and Philadelphia.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading companies in the world’s hotel and leisure industry, with more than 100 hotels in 1,200 countries and territories around the globe, and employs over 181,400 hotel team members within its owned and managed properties. As a world-renowned brand, Starwood is a fully integrated company that is equal parts owner, operator, and franchisor of hotels, resorts, and residences. Its well-known global brands include: St. Regis (St. Regis), The Luxury Collection (The Luxury Collection), W W Hotels (W), Westin (Westin), Le Méridien (Le Meridien), Sheraton (Sheraton), Four Points (Four Points by Sheraton), Aloft (Aloft), and Element (Element). Starwood also has an industry-leading and award-winning loyalty program, -- SPG Starwood Preferred Guest (SPG), through which members can earn and redeem points for hotel stays, room upgrades, and flights with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc. ( Starwood Vacation Ownership, Inc.), whose villa-style vacation ownership resorts and VIP privileges across the Starwood family of brands deliver world-class vacation experiences. For more information, please visit www.starwoodhotels.com/cn.