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Record growth continues for Starwood in 2012

Starwood Hotels & Resorts made it abundantly clear during the American Lodging Investment Summit (ALIS) in Los Angeles that building on a year of record growth and deal activity in 2011 it plans to open an additional 80 new hotels in 2012. In 2011 — against a backdrop of economic and geo-political uncertainty — Starwood added 81 new hotels — that’s 21,000 new rooms — and signed 112 new hotel deals. “Our global multi-brand growth continues unabated and Starwood is particularly well positioned to take full advantage of growth anywhere in the world, whether in established markets or in fast growing economies,” said Simon Turner, president of global development for Starwood. Turner said that “In 2012, markets like Brazil, Africa, the Middle East and Indonesia will be ones to watch. In developed markets, conversions continue to drive growth. In Europe, while financing for new builds is scarce, there is a large landscape of independent hotels ripe for flags, and we’re also keenly focused on an expected uptick in portfolio transaction activity in North America which should lead to heightened conversion opportunities.” The company’s president and CEO, Frits van Paasschen stated: “All pipelines are not created equal. Never in Starwood’s history have we had a pipeline of this scale and quality. Our growth as a percentage of our base continues to exceed that of our competition and with 389 new hotels since 2007, we have more new hotels as a percentage of our portfolio than our competitors, which demonstrates ongoing demand for our sought-after lifestyle brands.” Go to http://www.starwoodhotels.com for more.

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