Starwood expects to open approximately 30 new hotels by year’s end, driven by the rapid proliferation of its Four Points by Sheraton and Aloft brands and a surge in conversions across several of its brands, including Le Méridien, which is experiencing strong development momentum.
In 2013, Starwood opened 33 new hotels and signed 52 new hotel deals in North America, up 27% over signings the previous year and the most signed since before the global economic crisis.
“Starwood remains extremely bullish about its growth prospects in North America, which is still our largest market, comprising over 50% of our existing global portfolio,” said Simon Turner, President of Global Development for Starwood Hotels & Resorts Worldwide, Inc. “We now have a total of 577 hotels in North America and expect record low supply and growing demand to continue driving growth.”
“Starwood will open about one-third of its new hotels in North America in 2014, reflecting the continued strength of our brands in this important market,” said Allison Reid, Senior Vice President of North America Development for Starwood Hotels & Resorts Worldwide, Inc.
Starwood’s “Specialty Select” brands – Four Points by Sheraton, Aloft and Element – are leading Starwood’s growth in North America and account for approximately 75% of new hotel openings in the region in 2014. As a group, these brands have grown 80% globally since 2008 and are on track to surpass 200 hotels in North America this year.
Starwood’s robust portfolio of upper-upscale hotels under its Le Méridien, Westin and Sheraton flags are poised for another year of robust growth. In 2013, Le Méridien signed more hotels worldwide in one year since Starwood acquired the brand in 2005, driven by accelerating demand in North America. In 2014, the brand expects to open more hotels worldwide in one year since the brand was acquired, including five openings in the United States with two adaptive re-use projects, Le Méridien Tampa and Le Méridien Chicago-Oakbrook Center. Le Méridien will also launch a brand-new lifestyle development in Columbus, Ohio and open two conversions this year: Le Méridien Indianapolis, which has transformed a historic downtown hotel, and Le Méridien Charlotte, part of a dual-hotel development along with the already opened Sheraton Charlotte Hotel.
Starwood’s Westin brand, known for the resounding success of its wellness positioning, will reach its 200th milestone worldwide in 2014. Westin will open two new hotels this year in the United States: The Westin Wilmington on the city’s revitalized waterfront, and The Westin Cleveland Downtown. In 2015, the brand will reach the 125th hotel milestone in North America with openings planned for Denver, CO; Bethesda, MD; Austin, TX; San Jose, CA; Jackson, MS; and Jekyll Island, GA.
Sheraton, Starwood’s largest brand, will return to the Dominican Republic this year with the opening of Sheraton Santo Domingo. The global hotel icon opened five conversion properties and signed seven deals in North America in 2013. Of those deals, four were conversion properties that opened within the year.
Starwood continues to lead the luxury segment globally and boasts one of the strongest North American luxury portfolios in the industry under its St. Regis, W Hotels and Luxury Collection brands. This year, Starwood will open The St. Anthony, A Luxury Collection Hotel, San Antonio, an external conversion and the company’s fourth luxury property and first Luxury Collection property in Texas. In 2013, St. Regis Hotels unveiled its newly refurbished brand flagship, The St. Regis New York, while W Hotels completed renovations at W New York – Union Square and W Dallas.
