Starwood signs 220 new hotels and adds 105 hotels to its operating portfolio
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Starwood Hotels & Resorts recently announced it closed 2015 with 220 new signed hotel management and franchise agreements.
This represented a 26% increase over last year. The company also opened 105 hotels in 2015, representing approximately 22.5k rooms in 30 countries.
Thomas Mangas, chief executive officer of Starwood Hotels & Resorts Worldwide, Inc said: “As we begin 2016 and work towards our merger close with Marriott, we will continue to vigorously compete in the marketplace and grow our brands into new markets around the world.”
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 brand, 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 destinations like Dubai, Maldives, Punta de Mita and Shanghai. In the upper-upscale segment, Sheraton had signings that were up over 40% compared to the prior year.
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