Upper Upscale Brands Continue to Fuel Global Growth
2013 will be a strong year for Starwood’s upper upscale brands, Sheraton, Westin and Le Méridien. Sheraton, the global hospitality icon which has been a first mover into many new markets around the world, will continue to fuel Starwood’s growth with nearly 20 planned openings in 2013, a historic number of openings as the brand moves towards its milestone 500th opening in 2015. Sheraton remains a leader in China with 57 hotels now operating and another 9 expected in 2013.
Westin is also experiencing meaningful growth around the world and expects to open its 200th hotel this year. Expected openings for 2013 include The Westin Birmingham (U.S.); The Westin Chennai Velachery (India); The Westin Houston Downtown (U.S.); The Westin Haikou (China); The Westin Sanya Haitang Bay Resort (China); The Westin San Jose (U.S.); The Westin Chongqing Liberation Square (China); The Westin Qingdao (China) and The Westin Singapore Marina Bay (Singapore). After a significant investment in its hotels, Le Méridien is benefiting from growing brand recognition and deal signing momentum around the world. Planned 2013 openings include: Le Méridien Dallas, The Stoneleigh (U.S.); Le Méridien Atlanta Perimeter (U.S.); Le Méridien Zhengzhou (China); Le Méridien Saigon (Vietnam); Le Méridien Dhaka (Bangladesh); Le Méridien Cairo Airport (Egypt); Le Méridien Mahabaleshwar Resort & Spa (India) and Le Méridien Jiaonan Resort (China).
Long Runway to Grow Mid-Market Brands GloballyBuilding on significant deal signing momentum in 2012 and the most room openings since 2009, Starwood’s mid-market portfolio, which includes Aloft, Element and Four Points by Sheraton, has grown over 60 percent since 2009 reflecting the brands’ worldwide appeal. This is a direct benefit from Starwood’s longstanding tenure and teams in key global markets where there are significant growth prospects - particularly in secondary and tertiary markets – and meaningful guest, customer and owner appetite for affordable and reliable global hotel brands. Starwood will open its 250 th mid-market hotel this year. The three brands account for approximately one third of the company’s global development pipeline and nearly 45 percent of expected hotel openings worldwide in 2013. Four Points, which represented over a quarter of Starwood’s openings and signings last year, is set to open its 175 th hotel and is expected to sign more deals in 2013 than ever before in company’s history, driving growth throughout the world. Aloft is also being fueled by great global momentum, and plans to grow its portfolio by nearly 30 percent in 2013, and celebrate its 75 th hotel, driven heavily by openings in China, North America and India. The brand is benefiting from a desire for design-centric, hotel brands around the world at an affordable price. Aloft is growing through an increased number of conversions, and will debut in Panama, Malaysia and Turkey during the year. Element will open its first hotel outside of the United States with its debut in Canada this summer followed by the brand’s debut in Europe in 2014. About Starwood Hotels & Resorts Worldwide, Inc. Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1,134 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.)
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts