Starwood Hotels & Resorts ends 2011 on a High Note

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Reporting a record growth and deal activity in 2011, Starwood Hotels & Resorts Worldwide, Inc. added 81 new hotels around the world last year.

In 2011, Starwood Hotels & Resorts reportedly opened 21,000 new hotel rooms in 81 new hotels and signed 11 new hotel deals. After last year’s amazing success for the hotel group, Starwood plans to continue its upward movement by adding an addition 80 new hotels in 2012.

Simon Turner, President of Global Development for Starwood, said, “Our global multi-brand growth continues unabated and Starwood is particularly well positions to take full advantage of growth anywhere in the world, whether in established markets or in fast growing economies.”

Turner added that this year the company will be keeping it’s eye on markets such as Brazil, Africa, the Middle East and Indonesia. Of all the new hotels set to open this year, nearly 60% of them will open in Asia Pacific. With these additions, by year’s end, the company’s portfolio will include 250 hotels in the region.

Within Asia Pacific, China continues to cater well to Starwood hotels and the company is scheduled to open its 125th hotel in Greater China this year. Miguel Ko, Chairman and President, Asia Pacific for Starwood said, “Starwood is keenly focused on meeting the ever-growing demand for our high-quality brands in China and India, as well as in other fast-growing economies across Asia.”

Aside from China, other strong Asia Pacific markets include Malaysia, Thailand and Vietnam. Starwood currently plans to open another four hotels in Malaysia over the next three years and another five openings in Thailand by 2014.

According to Starwood’s President and CEO Frits van Paasschen, the hotel group’s growth as a percentage of their base continues to exceed that of their competition. Starwood has opened 389 new hotels since 2007 and Paasschen notes that there is an ongoing demand for their “sought-after lifestyle brands.”

This year, Starwood will open their 150th luxury hotel under its St. Regis, Luxury Collection and W Hotels. In fact, of the 80 new Starwood hotels set to open in 2012, more than 60% will be in the luxury and upper scale segment. The new hotels include the 30th St. Regis hotel, the 80th Luxury Collection hotel and the 45th W hotel. Nearly three quarters of these new hotels will be opened outside of North America, significantly growing Starwood’s global portfolio. But this doesn’t mean they aren’t keeping a close eye on the region; the company signed more new deals in 2011 than in 2010 or 2009 in North American, according to Denise Coll, President of North America for Starwood.

Source: Hotel News Resource

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