Company Sees Strong Growth Momentum for Four Points by Sheraton, Aloft and Element Brands in 2nd Largest Market Outside the U.S.
Toronto – May 6, 2014 – From the Canadian Hotel
Investment Conference in Toronto, Starwood Hotels & Resorts
Worldwide, Inc. (NYSE: HOT) announced today that it will expand its
Canadian portfolio to 70 hotels within the next 12 months.
The Aloft Calgary University, Starwood’s first Aloft hotel in Western
Canada, opened last month, following the February opening of Four Points
Waterloo-Kitchener Hotel & Suites.
The momentum continues with the
upcoming openings of Four Points Regina, Four
Points Surrey, Four Points Moncton and the Element Vancouver
Metrotown. This activity comes after a strong 2013, which included the
openings of Four Points Edmonton International Airport, Four Points
Kelowna Airport, Four Points Edmundston and Element Vaughan
Southwest, maintaining Canada’s position as Starwood’s 2nd largest
market outside the U.S.
Simon Turner, President of Global Development for
Starwood Hotels & Resorts, said: “We are continuing to see rising
demand for development in both secondary and tertiary markets across
Canada, fuelled by strong interest in our globally
recognized and admired brands and the ability to tap into Starwood’s
strong distribution network and loyalty program. Our solid portfolio of
66 hotels in the country across seven of our brands positions us well
for continued growth, particularly in the mid-market
segment where we are seeing a lot of traction.”
Specialty Select Brands Maintain Upward Momentum for Starwood
Starwood’s Specialty Select Brands (SSB) are
continuing to drive positive momentum and fuelling growth across the
country, underscoring the company’s long-term development strategy to
grow its Aloft, Element and Four Points by Sheraton
brands, increasingly in secondary and tertiary cities where there is
strong demand for domestic business travel. Currently, Starwood has 30
hotels under these three brands across Canada, the largest SSB portfolio
outside of the U.S., with plans to grow to
35 operating hotels by the end of first quarter 2015.
Four Points is Starwood’s most prolific brand in
Canada with 27 hotels. Boasting the second largest global pipeline of
all of Starwood’s brands, Four Points has proven to be a hit with
travelers in markets worldwide and is a key player
in a new generation of mid-market hotels delivering honest,
uncomplicated comfort and exceptional guest service. The company has
recently signed agreements for two new hotels, including Four Points
Estevan, SK. and Four Points Lloydminster, SK.
Scott Duff, Sr. Director Development - Canada &
Alaska, said: “We are proactively looking to increase our portfolio
throughout Canada with the right partners, creating the right
properties, in the right places. Our agile development approach
allows us to adapt our growth strategies based on specific geographies
and brand needs for both new development and conversions, where we are
seeing strong interest.”
Starwood’s latest brand innovation, Element made a
strong debut in Canada in June 2013 in Vaughan, Ontario, quickly
becoming a market leader on TripAdvisor against a strong competitive
set. Canada’s second Element, Element Vancouver Metrotown
is progressing nicely towards its opening in the first quarter of next
year with two additional Western Canada Element hotels slated to break
ground this year – Element Calgary Airport and Element Edmonton West.
Starwood’s innovative Aloft brand recently entered
Western Canada with the opening of Aloft Calgary University. The hotel,
which was a conversion, marked the third Aloft in Canada joining Aloft
Montreal Airport and Aloft Vaughan Mills.
Industry changing initiatives in music, design, and technology have
positioned Aloft as a must-have brand for the next generation of
travelers.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is
one of the leading hotel and leisure companies in the world with nearly
1,200 properties in 100 countries and 181,400 employees at its owned and
managed properties. Starwood is a fully integrated
owner, operator and franchisor of hotels, resorts and residences with
the following internationally renowned brands: St. Regis®, The Luxury
Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by
Sheraton, Aloft®, and Element®. The Company boasts
one of the industry’s leading loyalty programs, Starwood Preferred
Guest (SPG®), allowing members to earn and redeem points for room stays,
room upgrades and flights, with no blackout dates. Starwood also owns
Starwood Vacation Ownership, Inc., a premier provider
of world-class vacation experiences through villa-style resorts and
privileged access to Starwood brands. For more information, please visit
www.starwoodhotels.com.
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