Aloft, Element and Four Points by Sheraton on Track to Sign all-time High Record Number of New Deals in 2016
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced that its Specialty Select Brands – Aloft, Four Points and Element – are propelling the company’s global growth with 132 new hotels deals signed so far this year, up 89% from the same time last year. Element Hotels, Starwood’s extended stay eco-incubator brand, has signed 35 hotel deals year-to-date, more than doubling the number of signed hotels in all of 2015. Aloft Hotels, Starwood’s tech-forward powerhouse, has signed 52 hotel deals so far this year. Four Points, Starwood’s second largest brand measured by number of hotels, has signed 45 hotels so far this year, nearly doubling its pace for the same period last year.
“Fueled by continued owner/developer interest in Starwood’s select service brands as well as enthusiasm for the benefits of the Marriott merger, Aloft, Element and Four Points continue to expand at a very encouraging rate, leading our global pipeline growth in 2016,” said Simon Turner, President of Global Development for Starwood Hotels & Resorts Worldwide, Inc. “In the third quarter this year, Aloft, Element and Four Points are expected to reach all-time high incremental annual global signing levels.”
Allison Reid, Senior Vice President of North America Development added “The distinct positioning of our Aloft, Element and Four Points brands has made them an increasingly favored choice among North American owners and developers for both new developments and conversions. Element’s pipeline is the largest in the history of the brand.”
Starwood has opened 30 new hotels across its Aloft, Four Points and Element brands this year and is expected to open 14 more by December 31st, which would bring its total portfolio in the segment to well over 350 hotels worldwide. Starwood’s global pipeline leader Four Points crossed its 200th hotel milestone in 2015 and is on track to add another seven hotels globally by year’s end, propelled by the success of its approachable design, stylish comfort and flexible development options. After topping 100 hotels worldwide in 2015, Aloft will open five more in 2016, fueled by its success with evolving global travelers who appreciate the brand’s distinctive design aesthetic and live music scene at the W XYZ® Bar. Promoting a life in balance with its clean, modern design and innovative offerings, the smart and stylish, Element Hotels brand has opened two hotels so far this year with plans to add another two by year’s end.
“Starwood’s Aloft, Four Points and Element brands have both energized and redefined the Specialty Select Segment with their distinct brand personalities and innovative offerings, contributing to their phenomenal success in markets throughout North America and across the globe,” Brian McGuinness, Senior Vice President, Starwood’s Specialty Select Brands. “Aloft, Four Points and Element are standouts in the market due to their widespread appeal among today’s global traveler, flexible development options and emphasis on style and affordability.”