Starwood Hotels & Resorts Worldwide Inc. recently reported it opened 74 hotels in 2014, representing 15,000 rooms in 26 countries. The Stamford-based company also signed 175 new hotel management and franchise agreements last year, which is a 15 percent increase compared with 2013.
Starwood officials said the company completed more new deals in 2014 than in any year since 2007. It was the company’s fifth consecutive year of increased signings.
“With more than 1,200 hotels in 100 countries, we’re on the frontlines of global change and continue to see increasing demand for innovative, design-led brands, playing to Starwood’s strength,” said Frits van Paasschen, Starwood president and CEO, in a press release.
Company officials in the press release said Starwood plans to reach the following milestones this year: build its 300th hotel in the Asia Pacific and China, 150th hotel in China, 90th hotel in Africa and the Middle East, 175th luxury hotel, 750th “upper upscale” hotel and 300th midmarket hotel.
“Looking ahead, emerging markets remain a focus for us, but recovering economic conditions and increased availability of financing have also led to strong growth in North America and Europe,” said Simon Turner, president of global development for Starwood, in the press release.
North America accounted for more than one third of Starwood’s signings last year, Turner said, and the availability of construction lending yielded a more than 50 percent increase in new-build hotel signings compared with 2013. Globally, Starwood renewed or extended 76 existing agreements with owners in 2014.
