Starwood Hotels & Resorts has revealed it opened 74 new hotels, representing 16,200 rooms in 22 countries in 2013, as well as signing a total of 152 new hotel management and franchise agreements across the year.
This amounted to an increase of 16% over its 2012 signings, while Starwood also signed 75 contract renewals, up nearly 34% from the previous year.
Commenting on the group’s performance, Starwood Hotels & Resorts president of global development Simon Turner said: “Consistent, sustainable high-quality portfolio growth in both mature and emerging markets led to another strong year of openings, incremental hotel agreements and the highest number of contract renewals in our company’s history.”
Starwood also revealed that nearly 75% of the group’s development pipeline and 60% of the 2013 signings were in fast-growing markets, including Bangladesh, Malaysia, Indonesia, Colombia and Saudi Arabia, while 40% of the group's 2013 signings were in developed markets, with 13 conversions that signed and opened within the year.
Starwood Hotels & Resorts Worldwide, Inc. president and CEO Frits van Paasschen said: “We have a balanced approach to development, with continued focus on growth in the world’s fastest growing economies, and we are also seeing significant opportunities in established markets where conversion momentum continues and record low supply and growing demand are driving growth.”
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“2014 already looks to be shaping up as a better version of 2013 with a number of key milestones for us, including the opening of our 200th Westin, 200th Four Points by Sheraton, and more Le Meridien hotels in any one year since we acquired the brand in 2005,” he explained.
Another key milestone for the group was the opening of six luxury hotels in 2013 – effectively doubling Starwood’s luxury portfolio in six years – including the first W hotel in mainland China among other properties such as the St. Regis Abu Dhabi – the brand’s second hotel in the emirate and third in the Middle East.
In 2014, the company will open 10 new luxury properties, including six new hotels under The Luxury Collection brand in destinations including Ajman in the UAE, Dalian and Hangzhou in China, and Broumana in Lebanon.
Starwood’s upscale brands, including Sheraton, Le Meridien, and Westin collectively opened 30 new properties, with 60 new deals signed in 2013. Le Méridien signed more new hotel deals in 2013 and will open more new hotels in 2014 than any other year since Starwood acquired the brand in 2005, while the 200th hotel under the Westin brand is set to open in 2014.
Starwood’s mid-market brands also witnessed strong growth, with brands such as Four Points by Sheraton, Aloft, and Element growing nearly 80% since 2008, with 77 new signings in 2013. The three brands account for approximately 40% of the company’s development pipeline and nearly 45% of expected hotel openings worldwide in 2014, including the opening of the 200th Four Points by Sheraton property.
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