Starwood Hotels & Resorts Worldwide Inc. said on Tuesday that it plans to open about 30 new hotels in North America this year, down from the 33 opened last year.

The company currently has 577 hotels in North America. It expects that growing demand and a low supply of rooms will drive growth.

Starwood’s brands include Le Meridien, Westin, and Sheraton. It has about 1,200 properties globally.

The Stamford, Conn., company is expected to report fourth-quarter results on Feb. 13.

Copyright (2014) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Photo Credit: The entrance to a Grand Suite in Starwood's St. Regis Hotel. Starwood Hotels & Resorts