Starwood Hotels & Resorts has revealed 2014 was its fifth year of increased deal signings as it looks for expansion across the globe this year.
The hotel giant opened 74 hotels last year but also signed 175 new hotel management and franchise deals during the year, an increase of 15% on 2013.
This year the group will look to continue its growth with its mixed management and franchise approach.
“Our balanced growth approach continued in 2014 with consistent, organic signings across all nine of our brands,” said Simon Turner, president of global development for Starwood Hotels & Resorts Worldwide, Inc. “Looking ahead, emerging markets remain a focus for us, but recovering economic conditions and increased availability of financing have also led to strong growth in North America and Europe.”
The firm plans to open 25 luxury hotels in the next two years under the St. Regis (Istanbul, Macao, Dubai, Mumbai), The Luxury Collection (Nanjing, San Antonio, Broumana) and W brands (Amsterdam, Goa).
The Aloft brand will reach 100 properties this year with newcomers in China, Munich and Stuttgart, while new eco-focused brand Element Hotels will open in China, London, Amsterdam, Boston and Philadelphia.