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Starwood Hotels & Resorts opened 27 hotels
in North America in 2011, more than it had predicted this time
last year with the addition of several high quality conversions
that were signed and opened during the course of the year.
In 2011 Starwood also signed more new deals than
in the previous two years. In fact, Starwood’s North American
division – the company’s largest with 550+ hotels – led all of its
global divisions in new deal signings last year.
Looking ahead to
2012, Starwood is slated to open 20 new properties in North
America, not including late breaking in-the-year conversions which
are expected to result in additional new hotels this year.
“We ended 2011 with a renewed sense of momentum in the North
American deal environment and, as we enter 2012, we’ve got a close
eye on several transactions which may lead to an increase in
conversion opportunities,” said Allison Reid, Senior Vice President of Managed Development for North America for Starwood.
Conversions continue be the primary driver of new hotel
growth in developed markets. In 2011, 75% of Starwood’s openings
and 63% of its new deal signings in North America were
conversions.
“Our nine unique and differentiated lifestyle
brands are all conversion friendly and Starwood has an unsurpassed
ability to match the right brand with the right development
opportunity in the right market to drive results for our owners
and shareholders,” said Simon Turner, President of Global
Development for Starwood. “We continue to be pragmatic in our
approach to conversions, ensuring we maintain our brands’
standards while at the same time balancing the needs of our
owners.”
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