Starwood boasts sixth consecutive year of growth for 2015

St. Regis New York exterior

Starwood Hotels & Resorts continued to grow in 2015 with 220 new signed hotel management and franchise agreements.

The 26 percent increase from the year-ago marks the sixth consecutive year that Starwood has seen increased signings in its history. Starwood’s growth is on track to continuously grow after it was purchased by Marriott International for approximately $12.2 billion, a merger that has resulted in the world’s largest hospitality conglomerate in the world (see story).

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During the course of 2015, Starwood opened 105 hotels, which equals about 22,500 guest rooms in 30 countries.

Although its mid-market offerings saw the most action for 2015, its high-end properties, which include St. Regis, W Hotels and Luxury Collection, saw an increase of 40 percent from the year-ago. Starwood’s luxury and lifestyle collection had 29 deals in 2015 in locales such as Dubai, United Arab Emirates, the Maldives, Shanghai and flagship openings in Amsterdam, Mumbai and Prague.

Starwood had a number of milestones across the board, opening its 700th hotel in the Americans, its 250th property in Europe, Africa and the Middle East and 300th hotel in Asia Pacific and the hospitality brand’s 150th property in Great China.

The Luxury Collection opened its 100th property in 2015 as well.

“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, in a statement.

“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,” he said.

from Luxury Daily » Travel and hospitality http://www.luxurydaily.com/starwood-boasts-sixth-consecutive-year-of-growth-for-2015/
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