Starwood’s profits and properties are finally on the rebound after being hit hard in 2007, but its current multi-brand success in the U.S. isn’t being matched by properties in still-hurting economies.
From the 2013 American Lodging Investment Summit in Los Angeles, Starwood Hotels & Resorts Worldwide, Inc. announced that it opened 23 hotels in North America in 2012 and signed more new deals than in the previous two years, including 21 conversions. Looking ahead to 2013, Starwood anticipates its strongest year of openings in North America since before the global economic crisis with 28 scheduled openings.
“North America remains our largest market with 576 hotels and saw more hotels signed in 2012 than any other region in our vast network,” said Simon Turner, President of Global Development. “We have opened over 135 new hotels in North America since the global economic crisis and expect pent up demand and limited new supply to continue to drive our growth in 2013.”