Starwood Expects 71 Hotel Openings, 125 New Hotel Management and Franchise Agreements by Year End
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced
that, despite ongoing macroeconomic and geo-political uncertainty, 2012
was a year of the most deal signings since before the global economic
crisis. Before year-end, the company expects to have signed in excess of
125 new hotel management and franchise agreements, surpassing last
year's deal signings by approximately 13 percent.
By year end 2012, Starwood expects to have opened 71 new hotels,
representing approximately 18,500 rooms in 20 countries, strengthening
its global lead and expanding its footprint particularly in developing
markets. Since 2007, Starwood has added over 100,000 gross new hotel
rooms to its system.
“Starwood's nine highly sought-after