Starwood plans to open its 600th hotel in North America. It should achieve this goal in 2015. Meanwhile on each segment the group's brands have announced openings or renovations this year.
"North America remains one of Starwood's most important global markets accounting for approximately 50% of our global portfolio and a third of our hotel openings in 2014, and we expect strong growth trends to continue this year," reminds Simon Turner, President of Global Development for Starwood Hotels & Resorts Worldwide, Inc. "The ongoing economic recovery and increased availability of financing are creating favorable conditions, contributing to strong growth across all three segments of our business and a notable surge in demand for new-build hotels."
Midscale: Starwood's economic growth engine
Midscale hotels such as Element, Aloft and Four Points by Sheraton continue to grow very quickly. Last year 53 contracts were signed on this segment alone. Four Points will open fifteen hotels this year including its 125th. The twelve annual openings of Aloft will allow it to reach the symbolic figure of 75 properties. Element, meanwhile, will open its fifth hotel in North America. These figures also show the real appetite for partnerships. Allison Reid, Senior Vice President of North America Development for Starwood Hotels & Resorts Worldwide, Inc, says, "We highly value our relationships with our owners and franchisees, and continue to see strong interest from partners looking to leverage Starwood's powerful brands and network, global booking platforms and loyal customer base."
Upscale and upper upscale are also growing
Upscale properties such as Sheraton, Westin and Le Méridien continue to perform well in North America . After a record number of signatures in 2013 and four openings in 2014, the brand Le Méridien should not upset the hotelscape in 2015 and will open only one property in Columbus. Westin will open four hotels to reach the milestone of 125 properties in Canada and the United States. Finally four hotels are also expected to open under Sheraton in the next two years, but the goal is more global: open the 500th Sheraton worldwide. On the luxury segment, W and St. Regis will concentrate on renovations while The Luxury Collection will open 3 hotels before the end of 2016 in the Americas.
On January 1, 2014, Starwood Hotels & Resorts was the seventh hotel group worldwide in terms of number of rooms, according to the ranking realized each year by MKG Hospitality, hospitality consulting firm founded by Georges Panayotis. The group had 339,243 rooms in 1,161 hotels. (Read our report)
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