Starwood signals aggressive growth

Starwood signals aggressive growth
By admin


Starwood Hotels and Resorts will focus on expanding its network of properties in 2013, with growth in both emerging and developed markets firmly within its sights.

Its upscale brands are expected to drive the growth, with 20 new Sheratons planned for 2013, and its tally of Westin properties to break the 200 mark.

Meanwhile, midscale brands Aloft, Element and Four Points by Sheraton will account for nearly 45% of openings this year, including Starwood's 250th property in the segment.

The hospitality firm, which also includes St Regis, Luxury Collection, W Hotels and Le Meridien among its nine brands, confirmed that nearly two-thirds of its new properties this year will open in emerging markets. It has plans for its first property in Tajikistan, with further growth across Latin America, Asia, Africa and the Middle East also on the agenda.

However, president and chief executive Frits van Paasschen insisted the firm will also continue to focus on growing in developed regions.

"As part of our developed approach to development, we are also seeing significant opportunities in established markets where conversion momentum continues, and record low supply and growing demand are driving growth," he said.

Van Paasschen attributed the aggressive growth strategy to recent global trends and economic conditions which saw Starwood signed 131 new management and franchise agreements in 2012. The figure represents an increase of 17% on the previous year and is the most hotel deals signed by the firm since before the global financial crisis.

"Rising wealth, increasingly global businesses and a digitally connected world are creating unprecedented demand for travel and new travel patterns, and we continue to be as bullish as ever about our long-term growth," he said.

Latest News

  • Food & Beverage
  • Hotels

Park Proxi Gibraltar Bowral announces partnership with Lotus Dining Group

Renowned Lotus Dining Group will offer a new dining experience at Southern Highlands property, Park Proxi Gibraltar Bowral, Seibu Prince Hotels & Resorts has announced.  Scheduled to open on 1 September, Lotus will bring its acclaimed Asian cuisine to the Southern Highlands with a hyper-local twist. Diners can expect a blend of favourite Lotus dishes […]

  • Hotels

Nozo Hotel Furano announce winter season exclusive package

Nozo Hotel Furano in Hokkaido has announced a special invitation to Aussie and Kiwi travellers with an exclusive winter package, in anticipation of its first anniversary. The hotel are offering a 30 per cent discount on all rooms and breakfasts for seven-night stays or more. The offer marks the hotel’s milestone celebration and ushers in […]

  • Conferences

Melbourne and Geelong convention centres pave the way for accessibility and inclusion

The operators of Melbourne Convention and Exhibition Centre and the future Nyaal Banyul Geelong Convention and Event Centre have taken a significant step towards inclusivity with the launch of their latest Accessibility Action Plan. Welcoming visitors from diverse backgrounds, Melbourne Convention and Exhibition Trust (MCET) is committed to providing safe spaces to connect and engage. […]

  • Cruise
  • News

AmaWaterways celebrates 22nd anniversary with offers on 2025 trips

As AmaWaterways embarks on its 22nd year, the luxury river cruise line has announced a range of savings offers to make river cruising even more accessible to both new and experienced cruisers. Travellers planning ahead can enjoy savings of up to 20 per cent on a range of European itineraries in 2025. Solo travellers also […]