Starwood Says Hotel Conversion Opportunities in North America to Rise in 2012

Starwood Hotels & Resorts opened 27 hotels in North America in 2011, more than it had predicted this time last year with the addition of several high quality conversions that were signed and opened during the course of the year.

In 2011 Starwood also signed more new deals than in the previous two years. In fact, Starwood’s North American division – the company’s largest with 550+ hotels – led all of its global divisions in new deal signings last year.

Looking ahead to 2012, Starwood is slated to open 20 new properties in North America, not including late breaking in-the-year conversions which are expected to result in additional new hotels this year.

“We ended 2011 with a renewed sense of momentum in the North American deal environment and, as we enter 2012, we’ve got a close eye on several transactions which may lead to an increase in conversion opportunities,” said Allison Reid, Senior Vice President of Managed Development for North America for Starwood.

Conversions continue be the primary driver of new hotel growth in developed markets. In 2011, 75% of Starwood’s openings and 63% of its new deal signings in North America were conversions.

“Our nine unique and differentiated lifestyle brands are all conversion friendly and Starwood has an unsurpassed ability to match the right brand with the right development opportunity in the right market to drive results for our owners and shareholders,” said Simon Turner, President of Global Development for Starwood. “We continue to be pragmatic in our approach to conversions, ensuring we maintain our brands’ standards while at the same time balancing the needs of our owners.” 

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