This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Starwood Opens 71 Hotels And Signs Most New Hotel Deals Since Pre-Crisis

Sheraton, Westin and Le Méridien, Starwood’s upper upscale brands, enjoyed a strong year of growth with the opening of a flagship Manhattan property, The Westin New York Grand Central, and the addition of nearly 7,000 rooms in China. Openings included the Sheraton Macao Hotel, Cotai Central - the largest Starwood hotel to open worldwide in 2012 and, upon completion, the largest hotel in Macao. Conversions increased during the year in North America and Latin America, and included the openings of The Westin Lake Las Vegas, Le Méridien Arlington, The Westin Snowmass Resort, Sheraton Vitoria in Brazil, and Le Méridien Mexico City in Mexico, among others.

Starwood’s mid-market brands, Four Points by Sheraton, Aloft and Element, saw the most openings since 2009. In 2012, the company opened the largest number of Four Points by Sheraton hotel rooms in over 10 years. Aloft saw a meaningful increase in signings, with strong conversion momentum, including the opening of hotels at San Francisco Airport and in Nashville. Aloft also opened in new global markets, including Zhengzhou Zhengdong in China, the company’s fifth Aloft in China, and San Jose in Costa Rica, the company’s second Aloft in Latin America and first in Costa Rica. Element made its South Florida debut with a new hotel at the Miami International Airport. Starwood expects its robust mid-market portfolio growth to continue in 2013 and will celebrate the opening of its milestone 250 th hotel early in the 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 1,128 properties in nearly 100 countries and 154,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and ElementSM. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.

(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.)

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs