Leading hospitality company
Starwood Hotels & Resorts Worldwide, Inc.
) recently declared that amid such global macroeconomic turmoil,
it has entered into maximum number of hotel agreements in
At the end of 2012, the company inked nearly 125 new hotel
management and franchise deals, which reflect an increase of 13%
year over year. Of its total pipeline, 20% of hotel deals are
consistent with the company's brand conversion strategy.
Earlier, the company projected to unveil 71 new hotels with
nearly 18,500 guestrooms located across 20 countries by the end
The company will be able to beef up its portfolio with these
new deals and hotels, especially in the emerging markets. In
2012, the company entered into the maximum number of hotel deals
in the developing markets. In order to ramp up its presence in
the flourishing Chinese market, Starwood Hotels is set to
introduce its 125
hotel in the country in 2013.
Moreover, in a concerted endeavor to strengthen its
full-service, luxury/upscale brands portfolio the company opened
various significant properties in 2012. The company has unveiled
new hotels such as Blue Mountains in Australia, Metropole Palace
in Serbia and Twelve at Hengshan in Shanghai under its luxury
brand St. Regis. The company's W brand also had a strong year
with its debut in Paris, Bangkok and Singapore.
Besides, the company's upscale brand Sheraton, Westin and Le
Méridien also witnessed the opening of various new properties
including The Westin New York Grand Central in Manhattan,
Sheraton Macao Hotel, Cotai Central, The Westin Lake Las Vegas,
Le Méridien Arlington, The Westin Snowmass Resort, Sheraton
Vitoria in Brazil and Le Méridien Mexico City in Mexico.
The company's mid-market brands, Four Points by Sheraton,
Aloft and Element also grew in 2012. Starwood introduced highest
number of hotels under its Four Points by Sheraton brand in 2012.
In addition, Aloft made its debut in Zhengzhou Zhengdong in China
and San Jose in Costa Rica. The company also launched its Element
brand in South Florida with the opening of its first hotel in
Miami International Airport.
Starwood Hotels competes with major hoteliers like
InterContinental Hotels Group
Hyatt Hotels Corporation
Marriott International Inc.
Starwood currently retains a Zacks #3 Rank (a short-term
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