BUSINESS

Starwood hotel agreements up 26 per cent in 2015

Traders stand by the post where the stock for Starwood Hotels & Resorts Worldwide Inc is traded on the floor of the New York Stock Exchange . REUTERS/Brendan McDermid - RTS7EBK
Reuters Images/Brendan McDermid - RTS7EBK

Starwood Hotels and Resorts Worldwide said that it has signed 220 hotel management and franchise agreements in 2015, up 26% year-on-year.

Gulf News

January 8, 2016

PHOTO
Traders stand by the post where the stock for Starwood Hotels & Resorts Worldwide Inc is traded on the floor of the New York Stock Exchange . REUTERS/Brendan McDermid - RTS7EBK

Friday, Jan 08, 2016

Dubai: Starwood Hotels and Resorts Worldwide said on Thursday that it has signed 220 hotel management and franchise agreements in 2015, up 26 per cent year-on-year.

The company opened a record 105 hotels in 30 countries in 2015, as per a statement on Thursday.

The select serve or mid-market segment drove last year’s signings, accounting for slightly more than 50 per cent.

In the upper-upscale segment, Sheraton, Starwood’s largest brand, saw signings up by more than 40 per cent compared to the previous year.

Four Points by Sheraton continues to maintain the company’s largest pipeline.

Staff Report