Starwood Hotels & Resorts To Grow Portfolio By More Than 40 New Hotels Across Europe

From the International Hotel Investment Forum (IHIF) in Berlin, Starwood Hotels & Resorts Worldwide, Inc today announced it is on track to open more than 40 new hotels and resorts across Europe in the next five years, expanding its portfolio by almost 30% with openings in both fast-growing and established markets. Further underlining its long-term growth strategy, Starwood is set to open five new hotels in Turkey this year, including The St. Regis Istanbul which just opened on March 1st.

“2014 was a record year of deal signings for Starwood in Europe with consistent, sustainable high-quality portfolio growth in key European markets and sought-after destinations,” said Simon Turner, President of Global Development for Starwood Hotels & Resorts Worldwide, Inc. “Our growth momentum continues this year with 14 hotels on track to open across Europe and strong owner interest in our nine lifestyle brands, backed by our loyalty program, the collective strength of our global platform and our highly-experienced, local teams.”

2015 opening highlights include:

• Five new hotels in Turkey, reaffirming Starwood’s commitment to growth in the country, bringing its portfolio to 15 hotels across seven brands by the end of 2015. Among the openings, is the St. Regis brand launch in Turkey with The St. Regis Istanbul introducing unparalleled luxury and style into the dynamic gateway city. Starwood will also introduce the Four Points by Sheraton brand into the country with two Four Points by Sheraton hotels in Batisehir and in Dudullu, two of Istanbul’s most promising districts. The iconic Sheraton brand will open a hotel in Atasehir, on the Asian side of Istanbul and recently entered the emerging coastal city of Samsun.

• Steady growth in Russia with two new Starwood hotels opening in 2015: Sheraton Ufa and a Four Points by Sheraton in Kaluga, marking the entry of the Four Points by Sheraton brand in the country. With six more hotels in the pipeline, Starwood will double its footprint in Russia over the next three years.

• Growth momentum in Germany with the launch of the Aloft brand in Stuttgart and Munich this summer, strengthening Starwood’s position in this key European travel market to nearly 30 hotels.

• The introduction of the W and Element brands to The Netherlands by year-end with W Amsterdam located in the prestigious Dam square, just steps from the city’s vibrant canal district, and Element Amsterdam, south of the city center.

• Three further additions to the Sheraton brand portfolio in Southern Europe: Entering Romania with the opening of Sheraton Bucharest this fall, a conversion that leverages the brand’s first-mover advantage. The brand will also open the Sheraton Lake Como Hotel, a conversion hotel, overlooking the spectacular Lake Como in Italy, and expand its footprint in Croatia with the Sheraton Dubrovnik Riviera Hotel.

2014 record year for hotel signings in Europe, conversion hotels driving expansion

In 2014 Starwood experienced a record year of deal signings in Europe with almost 60% more signed deals than in the previous year, largely driven by conversion deals. Starwood continues to see increased interest from owners looking to maximize the value of their assets quickly, with many conversion opportunities amidst growing demand coming from the UK, Germany, France and Southern Europe.

Recent conversions such as The St. Regis Moscow Nikolskaya and Excelsior Hotel Gallia, a Luxury Collection Hotel, Milan, have fuelled growth in Starwood’s luxury brand segment, highlighting development interest for strong brands with global selling power. Another key conversion this year is Sheraton Berlin Grand Hotel Esplanade, which marks the launch of the iconic Sheraton brand in Germany’s capital, one of the most important European travel destinations for business and leisure.

“We see many conversion opportunities across Europe through both managed and franchised deals,” said Bart Carnahan, Senior Vice President Acquisitions & Development, Starwood Hotels & Resorts, Europe, Africa & Middle East. “Our conversion-friendly approach allows us to deliver value to our partners through a flexible, cost-efficient process that yields almost immediate results and gives them access to world-class delivery systems as well as our SPG loyalty program, differentiated marketing, and much more.”

Franchise deals are a fundamental part of Starwood’s development strategy, driving nearly 50% of signed hotel deals in Europe last year. The pace of franchise deal signings is expected to continue through 2020 with developers seeing the added value Starwood’s brands deliver to their real estate strategies, particularly in mature markets such as the UK, Germany and France.

Starwood's mid-market brands build on strong growth momentum

Starwood’s three distinct mid-market brands, Aloft, Four Points by Sheraton and Element, are experiencing unprecedented growth momentum globally. In Europe, the company’s mid-market portfolio is poised to exceed 50% of Starwood’s development pipeline with more than 15 new hotel openings expected across the three brands by the end of 2017.

Aloft will more than double its portfolio in Europe with hotels opening in St. Petersburg and London over the next two years, in addition to two hotels in Germany, opening this summer. Four Points by Sheraton, Starwood’s fastest growing brand will also expand in emerging markets with eight openings planned in Turkey and Russia by 2017. The eco-centric Element brand, introduced to Europe with the opening of Element Frankfurt Airport Hotel last year, will debut in Amsterdam before year-end, and become part of an Aloft and Element dual-hotel development in the historic Tobacco Dock section of East London in 2017.

“The record growth experienced in the last five years in the mid-market segment has set the stage for 2015, where we will see a vigorous expansion in mature and emerging markets” said Michael Wale, President Starwood Hotels & Resorts, Europe, Africa & Middle East. “The increasing demand for conversion and franchise deals from new and existing partners is a strong reflection of Starwood’s powerful network, loyal customer base and commitment to deliver value for owners.”

Top Five Off-Peak Destinations For Winter 2014/2015

Four Seasons Denver (Photo: TripAdvisor, LLC)

Don't let fear of cold weather cloud your vision of the perfect winter vacation. Low-season trips to spots where winter weather reigns are where it's at, for many reasons. An off-peak destination affords budget travelers the rare chance to splurge: Luxury accommodations and flight upgrades become within reach during winter at popular destinations around the world. Plus, crowds are sparse and deals are plentiful. Here are five awesome and affordable spots to consider visiting this winter.

Blue Lagoon (Photo: Icelandair)

Iceland

For those of us in the northern hemisphere, it may seem counterintuitive to head north for the winter. However, Iceland offers thermal refuge during the coldest months of the year thanks to its many geothermally heated springs and pools. A hike through the Icelandic countryside often yields the chance to submerge in steamy hot springs. And the celebrated bath-like Blue Lagoon is, arguably, best visited on a brisk winter day, when the toasty mineral waters and blood-warming cocktails offer a welcome thaw.

Airfares to Iceland during winter are notably lower than those in summer. Icelandair, which flies from eight U.S. cities to the Nordic country and beyond, is a great choice for low-priced winter airfare. We spotted flights from New York to Reykjavik for as low as $622 round-trip in early February, via a Hacker Fare on Kayak (combining flights on Icelandair and Norwegian Air). The lowest fares we found for June and July travel started at $837 round-trip.

Iceland is also the perfect place for a winter stopover if you're heading to Europe. Check out Icelandair's free stopover package and take advantage of those affordable low-season airfares.

Hotel Monaco, Philadelphia (Photo: TripAdvisor, LLC)

Philadelphia

Philadelphia is an ideal winter destination because so many of its top historical attractions are indoors. It doesn't really matter how cold it is outside when you're taking in a Matisse at the Barnes, exploring Independence Hall, or fiddling with hands-on exhibits at the newly renovated Benjamin Franklin Museum. Plus, there'll be far fewer crowds to contend with while you're learning about Mr. Franklin's affinity for musical inventions and printmaking.

Not all Philadelphia properties offer clearly discounted seasonal rates. Still, it's common to see comparatively lower prices at many hotels during winter, and it didn't take us long to unearth a few examples: At the Hotel Monaco Philadelphia, we found rates in late December for as low as $135 per night, compared to June, when the lowest nightly rates amount to $189. At Rittenhouse 1715, nightly room rates start at $219 during January; in spring, those prices bump up to $239.

(Photo: Bucharest via Shutterstock)

Bucharest

Bucharest made our list of 10 Places to Go While They're Still Cheap this year. It's almost always inexpensive to visit Bucharest, compared to other major European cities. Better yet, it's an even more affordable place to visit during winter. From airfares to hotel rates, prices drop sharply with the temperature. This winter, you can get from JFK to Bucharest on Turkish Airlines for as little as $724 round-trip, with a stop in Istanbul. (Try a free stopover and get two cities for the flight price of one.)

Hotels are cheaper too, naturally. At Hotel Christina, the number-one rated Bucharest hotel according to TripAdvisor (our parent company), prices are the lowest all year during winter months. In February, for example, nightly rates come to €50 (about $63). In June, though, rates jump to €70 (about $87) per night. At Hotel Epoque, the best available rate in June came to €170 (about $212). In January, you can grab a room at this historical and luxurious property for as little as €128 (about $159) per night.

(Photo: Banff Lake Louise Tourism/Paul Zizka Photography)

Banff National Park

Banff National Park is achingly beautiful in wintertime. Whether seen from the ground by sleigh, snowshoe, or dogsled or viewed from the comfort of a fire-warmed room, the park's snow-dusted mountains and turquoise lake appear dreamlike against a pale winter sky.

Banff is full of well-known luxury properties that can cost an arm and a leg come spring and summer--but we found rates dropping by almost half during winter. For example, let's look at the local Fairmont resorts: If you want to stay at Banff's iconic and luxurious Fairmont Banff Spring, go soon. During winter, rates fall as low as $359 CAD (about $317) per night. Comparatively, the best available rate in July is $609 CAD (about $539). Same goes for the Fairmont Chateau Lake Louise. Grab January rates starting at $299 CAD (about $265). In June? Those prices skyrocket to $559 CAD (about $495) nightly. Moreover, both properties are offering a range of deals during winter, from free nights to complimentary resort credits with your stay.

(Photo: Denver via Shutterstock)

Denver

It's rare to see a U.S. ski destination offering lower seasonal rates during winter. There's an exception, though: Denver, Colorado. Though it isn't exactly a ski spot itself, the Mile-High City makes an ideal base for winter sports. It's close to Winter Park Resort and Loveland Ski Area. Plus, Rocky Mountain National Park, about an hour away, offers non-downhill activities, from hiking to snowshoeing to cross-country skiing in pristine park wilderness. Rent a car, take a few day trips, and return to Denver after the sun sets to enjoy the city's fabulous nightlife and restaurants. The best part? You'll save money on accommodations, and you can fly right into Denver International.

There's a general uptick in Denver room rates when the weather gets warmer. At theFour Seasons Denver, for example, weekday winter rates start at $525 per night in January. Comparatively, weekday nights in June cost $100 more. Denver's Magnolia Hotel offers weekday January rates from $215 per night. In June, those rates rise to $242.

Contributed by Caroline Costello, Smarter Travel

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