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Starwood Hotels and Resorts Expects Robust Growth in North America

Starwood Hotels and Resorts Expects Robust Growth in North America

STAMFORD, Conn.—From the 2014 American Lodging Investment Summit in Los Angeles, Starwood Hotels and Resorts Worldwide Inc. announced that it expects another year of robust growth in North America with approximately 30 new hotels slated to open by year’s end, driven by the rapid proliferation of its Four Points by Sheraton and Aloft brands and a surge in conversions across several of its brands, including Le Méridien, which is experiencing strong development momentum. In 2013, Starwood opened 33 new hotels and signed 52 new hotel deals in North America, up 27 percent over signings the previous year and the most signed since before the global economic crisis.

“Starwood remains extremely bullish about its growth prospects in North America, which is still our largest market, comprising over 50 percent of our existing global portfolio,” said Simon Turner, president of global development for Starwood Hotels and Resorts Worldwide Inc. “We now have a total of 577 hotels in North America and expect record low supply and growing demand to continue driving growth.”

“Starwood will open about one-third of its new hotels in North America in 2014, reflecting the continued strength of our brands in this important market,” said Allison Reid, senior vice president of North America Development for Starwood Hotels and Resorts Worldwide Inc. “Owners and developers are showing increased interest in conversions and new builds under one of Starwood’s brands in order to tap into Starwood’s powerful network, global booking platforms and loyal customer base.”

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