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January 1, 2013

Starwood Hotels expands footprint with over 125 new deals in 2012

Starwood Hotels & Resorts Worldwide signed more than 125 new hotel management and franchise deals in 2012, an increase of 13% compared with the previous year.

By admin-demo

Starwood Hotels & Resorts Worldwide signed more than 125 new hotel management and franchise deals in 2012, an increase of 13% compared with the previous year.

Around one fifth of the agreements entered in the year were conversions of existing properties, of which 12 opened during the period.

Despite ongoing macro-economic and geo-political uncertainty, Starwood opened 71 new hotels in 2012, representing around 18,500 rooms in 20 countries.

The hotel and leisure company plans to open its 125th hotel in China in 2013.

"The size of our overall cumulative pipeline and the quality of developers, projects and commercial terms are the finest they have ever been in the company’s history."

Starwood’s St. Regis brand opened hotels across the globe, including properties in Florida, Mauritius and Doha.

The Luxury Collection opened two hotels in the Blue Mountains in Australia, Metropole Palace in Serbia, and Twelve at Hengshan in Shanghai.

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W Hotels witnessed strong growth with the brand’s launch in Paris, Bangkok and Singapore.

Starwood’s upper upscale brands Sheraton, Westin and Le Méridien also registered strong growth, with the opening of The Westin New York Grand Central in Manhattan and the addition of around 7,000 rooms in China.

The Westin Lake Las Vegas, Le Méridien Arlington, The Westin Snowmass Resort, Sheraton Vitoria in Brazil and Le Méridien Mexico City in Mexico were also opened during the year.

Starwood opened the highest number of Four Points by Sheraton hotel rooms in over a decade in 2012.

Its mid-market brand Aloft also opened in new global markets, including Zhengzhou Zhengdong in China and San Jose in Costa Rica.

The Element brand debuted in South Florida with a new hotel at the Miami International Airport.

Starwood president and CEO Frits van Paasschen said that the company is well positioned to take advantage of the demand for new hotels created by rising wealth and a growing middle class population around the world.

"Our annual deal signings have increased progressively since 2009. Furthermore, the size of our overall cumulative pipeline and the quality of developers, projects and commercial terms are the finest they have ever been in the company’s history," he added.

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