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Starwood Hotels’ Sizzling Aloft Brand Arrives In Panama

Stocks in this article: HOT

Starwood Hotels & Resorts Worldwide, Inc.® (NYSE:HOT) today announced that its rapidly expanding Aloft brand has arrived in Panama, one of the most important travel markets in the Americas. Aloft Panama is the fourth Aloft hotel to open in Latin America, since the brand made its debut less than two years ago. It is owned and operated by Nuevos Hoteles de Panama S.A. under a franchise agreement. Aloft Panama offers 139 spacious loft-like rooms, tech forward innovation and a buzzing, social atmosphere. By 2014, it will offer an additional 186 rooms as part of an expansion phase.

“Aloft’s growth in Latin America over the last two years reflects the appeal of the design led focus and vibrant social scene among people who travel to the region for business or pleasure,” said Brian McGuinness, Senior Vice President, Specialty Select Brands for Starwood Hotels & Resorts Worldwide, Inc. “We are excited about Aloft’s continued momentum as we open hotels in important travel markets like Panama.”

Panama is one of the most dynamic travel markets in the Americas, with a high-demand of business travel and an increasing number of leisure tourism. Strategically, Panama is an important market for Starwood. Following this opening, Starwood will operate five brands in the country, including Aloft, Sheraton, Four Points by Sheraton, Le Meridien and Westin, and will extend its footprint to eight hotels.

“2013 has been a record-year for us in terms of openings, and we are thrilled to continue to grow Starwood’s presence in Latin America by bringing the Aloft brand to Panama,” said Osvaldo Librizzi, Co-President, Starwood Hotels & Resorts, Americas. “Panama is one of the region’s most important financial centers and business travel destinations. Aloft Panama is an ideal addition to our robust portfolio in the country as it caters to the next generation of travelers, who are looking for a vibrant alternative in the mid-market segment.”

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