Starwood experiences 2009 boom

Starwood Hotels and Resorts Worldwide Inc., experienced sustained long-term growth and meaningful milestones in 2009, despite market conditions. The North American Division alone executed 25 new deals, opened more than 40 hotels and anticipates an additional 20 openings by year’s end. Globally, Starwood is approaching its 1,000th resort opening, with 60 hotel openings and 50 deal signings in the past 10 months.

“We continue to focus on smart growth, which is key in today’s challenging environment,” says Paul Sacco, senior vice president of development for Starwood’s North America Division. “And while the pace of new deal executions has slowed, our recent deal signings reinforce that there are still growth opportunities in the right markets with the right brands.”

Starwood’s conversion focus helped drive strong hotel openings and new deal signings at the Four Points by Sheraton San Antonio-Downtown, the Sheraton Toronto Airport Hotel and Conference Center and W Washington D.C. “Conversions offer the chance to enhance an existing product by changing brands, which can ultimately provide a better value proposition to guests and greater market share to owners,” Sacco says.

The North America Division’s 2009 milestones include:

• The St. Regis Atlanta marks 500th hotel opening
• W Fort Lauderdale is the 30th W Hotel worldwide
• Element Denver Park Meadows is the 5th Element Hotel
• Aloft Tallahassee Downtown is the 30th Aloft Hotel worldwide
• Four Points by Sheraton is the 100th Four Points by Sheraton