Starwood Hotels & Resorts achieved a record year of portfolio growth in 2015, having signed 220 new hotel agreements and opened 105 new properties.
The year was marked by a series of portfolio milestones, including the opening of Starwood’s 700th hotel in the Americas, its 250th hotel the EMEA region, 300th hotel in Asia Pacific, 150th hotel in Greater China, 200th Four Points by Sheraton hotel, 100th Aloft and 100th Luxury Collection hotel.
“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, the US-based company’s president of global development.
“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.”
The mid-market segment drove last year’s signing in 2015, accounting for slightly more than 50% of total new contracts. Four Points by Sheraton continues to maintain the company’s largest pipeline, while the Aloft brand experienced a 65% year-on-year increase in signings.
In the luxury sector, Starwood penned deals for 29 new St Regis, Luxury Collection and W hotels, an increase of almost 40% over the prior year. And in the upscale segment, Sheraton’s signings that were also up more than 40%.
Starwood also launched the Tribute Portfolio in 2015, along with the new Sheraton Grand sub-brand, while the Design Hotels collection was added to Starwood’s booking channels.
But the major development for Starwood in 2015 was the announcement that Marriott International will purchase the company for US$12.2 billion – a deal that is expected to close later this year.
“As we begin 2016 and work towards our merger close with Marriott to become the world’s largest hotel company, we will continue to vigorously compete in the marketplace, deliver value to our owners, delight our guests and grow our brands into new markets around the world,” said Thomas Mangas, Starwood’s newly-appointed CEO.