Starwood Hotels & Resorts had a record year in 2015, signing 220 new hotel agreements and opening 105 properties.
It is the sixth consecutive year of increased signings by the group, while the opening of 105 hotels, representing approximately 22.5k rooms in 30 countries, is the highest in its history.
“Our continued commitment to brands, design and innovation this past year allowed us to accomplish much on behalf of our shareholders, which is a true testament to the great work of our associates and something our team should be proud of. As we begin 2016 and work towards our merger close with Marriott to become the world’s largest hotel company, we will continue to vigourously 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, recently appointed CEO of Starwood Hotels & Resorts Worldwide, Inc.
The select serve or mid-market segment drove last year’s signings, accounting for slightly more than 50%, according to Starwood.
Four Points by Sheraton continued to maintain the company’s largest pipeline, while the Aloft brand experienced a 65% increase in signings over the year. Starwood also increased its lead in the luxury and lifestyle segment, with 29 deals across its St. Regis, The Luxury Collection and W Hotels brands, and new hotels planned for destinations including Dubai, Maldives, Punta de Mita and Shanghai.
In the upper-upscale segment, Sheraton, Starwood’s largest and most global brand, had over 40% more signings when compared to 2014. The company’s newest brand, Tribute Portfolio, which launched in 2015, finished the year with 16 hotels either operating or with signed agreements.
Starwood, therefore, looks to be in a strong position as it prepares to conclude its US$12.2 billion purchase of Marriott International 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,” continued Mangas.