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Starwood Hotels and Resorts
Starwood Hotels & Resorts Worldwide is one of the world’s largest hospitality ownership, franchise and management companies. This leading hotel and leisure group operates over 871 hospitality properties in some 100 countries, under its nine owned brand names. Starwood’s hotel empire comprises upscale and luxury brands such as Sheraton, Four Points, or Westin. The company also operates 60 high-end hotels and resorts through its Luxury Collection and St. Regis, while the 20-hotel chain of W Hotels provides ultra-modern style to sophisticated business travelers.
More than 360 of Starwood’s hotels and resorts are owned and operated through a successful system of franchises, while 85 locations are owned or leased by the company. Furthermore, Starwood Vacation Ownership, one of the company’s subsidiaries, operates 25 time-share resorts in Aruba, the Bahamas, Mexico and the United States. Starwood had over 145,000 employees and around 266,000 rooms around the world by December 31st, 2006.
Brands
Based in White Plains, New York, Starwood Hotels & Resorts originally belonged to a real estate investment firm and was known as Starwood Lodging. Under different brand names, the company owned various hotels all over North America and in 1994 acquired the Westin Hotel Company from the Japanese Aoki Corporation. In 1998, Starwood purchased ITT Sheraton and its brands Sheraton, The Luxury Collection and Four Points by Sheraton.
W and aLoft were launched later on, catering towards new categories of travelers. By 2012, Starwood plans to have 500 aLoft hotels for business travelers all over the world. In 2006, the company introduced Element, a new brand name hotel aimed specifically at the extended stay market. Inspired by Westin, the first upscale and modern Element hotel is expected to open in 2008.
Markets and Revenues
Starwood Hotels & Resorts is well represented in all major markets worldwide. The company has two operating segments – residential operations and hotels and vacation ownership, respectively. Most of Starwood’s revenues and earnings come primarily from hotel operations, franchise receipt, as well as the operation of owned hotels and other fees deriving from management contracts. Other revenues derive from the ownership, operation, and development of vacation ownership resorts, selling vacation ownership interests in the resorts and offering financing to customers. Additional earnings are gained from the marketing, selling and development of residential units.
Strategy
The company’s hotel business focuses on the global operation of resorts and hotels especially in the upscale and luxury segment of the industry. Starwood thus seeks to acquire interests in franchise and management rights of properties in this segment. The company tries to maintain its leading position on the lodging and vacation ownership market by further developing its competitive strengths. Having the benefit of its strong brands and brand recognition, the Starwood Hotels & Resorts Worldwide continues to expand its customer base by maintaining loyalty among the world’s travelers while capturing new customers. Launched in 1999, the Starwood Preferred Guest loyalty program has more than 33 million members, offering outstanding customer service, hassle-free redemption, innovative promotions and benefits and a dedicated member website.
Address
- 1111 Westchester Ave
- White Plains NY 10604 US
Contact
- Starwood Hotels And Resorts, Niklas Schlappkohl
-
- +1 202 638 0280
Additional Information
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External Links
- Stock: HOT
- Alexa: StarWoodHotels.com
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