2012 strong year for Starwood
Despite global and national uncertainty, 2012 was Starwood Hotels & Resorts Worldwide Inc.’s best year since the recession.
Starwood signed more than 125 new hotel agreements, which was 13 percent more than the previous year, the company announced Dec. 26. By the end of the year, 71 new hotels will have opened in 20 countries.
“Rising wealth and a growing middle class around the world are creating new demand for infrastructure, including new hotels, and Starwood is well positioned to take advantage of these trends,” said Frits van Paasschen, Starwood CEO, in a press release. “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.”
Starwood, based in Stamford, owns 1,128 properties in nearly 100 countries. Its most famous brands include St. Regis, W, Westin, Le Méridien, Sheraton and Aloft.