Starwood

From Wikipedia, the free encyclopedia
Jump to: navigation, search
For other uses, see Starwood (disambiguation).
Starwood Hotels and Resorts Worldwide, Inc.
Subsidiary
(Acquisition by Marriott International closed on September 23, 2016)
Industry Hospitality, tourism
Founded 1969 as a REIT
1980 as a corporation[1]
Headquarters Stamford, Connecticut, U.S.
Products Hotels, resorts
Brands St. Regis
The Luxury Collection
W Hotels
Sheraton
Westin
Le Meridien
Tribute Portfolio
Design
Four Points
Aloft
Element
Revenue
  • Decrease US$6.115 billion (2013) [2]
  • Increase US$6.321 billion (2012) [2]
  • Increase US$925 million (2013) [2]
  • Increase US$912 million (2012) [2]
  • Increase US$635 million (2013) [2]
  • Increase US$562 million (2012) [2]
Total assets
  • Decrease US$8.762 billion (2013) [3]
  • Decrease US$8.855 billion (2012) [2]
Total equity
  • Increase US$3.363 billion (2013) [3]
  • Increase US$3.142 billion (2012) [2]
Owner Marriott International
Number of employees
181,400 (2013)[4]
Website www.starwoodhotels.com
Footnotes / references
[5][6]
Former Starwood logo

Starwood Hotels and Resorts Worldwide, Inc. is an American hotel and leisure company headquartered in Stamford, Connecticut.[7][8] One of the world's largest hotel companies, it owns, operates, franchises and manages hotels, resorts, spas, residences, and vacation ownership properties under its 11 owned brands. As of 1 December 2014, Starwood Hotels and Resorts owned, managed, or franchised over 1,200 properties employing over 180,400 people, of whom approximately 26% were employed in the United States.[9]

On November 16, 2015, Marriott International announced it would purchase Starwood Hotels and Resorts Worldwide for $13.6 billion, presumably creating the world's largest hotel chain once a closed deal.[10] The merger was finalized on September 23, 2016 after gaining the final approval from Chinese authorities. [11]

Brands[edit]

(The following list of Starwood brands is chronological, according to each brand's entry into Starwood)

Westin[edit]

Main article: Westin Hotels

The Westin Hotels and Resorts brand is Starwood's largest upscale hotels and resorts brand. It was bought by Starwood in 1994 and is also the oldest brand within Starwood, dating back to 1930 and still continuing with it.

Sheraton[edit]

Sheraton is Starwood's "flagship" brand, providing luxury hotel and resort accommodation. It began operating in 1937 and was sold to Starwood in 1998 by ITT. Also under the Sheraton brand are 7 Vacation Ownership properties.

The Luxury Collection[edit]

The Luxury Collection brand began in 1994 when ITT Sheraton purchased a controlling interest in CIGA (Compagnia Italiana Grandi Alberghi, or Italian Grand Hotels Company), a super elite Italian based international hotel chain which owned a significant number of the world's most famous and exclusive hotels. Those hotels, as well as a number of top-tier Sheraton Hotels, were then marketed as ITT Sheraton Luxury Hotels. After Starwood bought Sheraton, they established a separate brand identity for The Luxury Collection and expanded it.

Both ITT Sheraton and later Starwood kept CIGA's original logo (the four horses of St. Mark) for The Luxury Collection brand logo until 2010; each Luxury Collection hotel now uses its own logo. Many hotels in The Luxury Collection are smaller establishments in converted palaces or other significant buildings, others are restored historic hotels.

Confusingly, some hotels in The Luxury Collection which were originally part of the ITT Sheraton Luxury group kept their Sheraton name when the Luxury division was spun off as a completely separate brand under Starwood. There are four such hotels remaining today, operating with the name Sheraton, but not technically part of Sheraton. These hotels are the Sheraton Addis (Addis Ababa, Ethiopia), Sheraton Grande Sukhumvit (Bangkok, Thailand), Sheraton Algarve Hotel (Albufeira, Portugal), and Sheraton Kuwait Hotel (Kuwait City, Kuwait).

A part of the Collection, the Royal Penthouse Suite, at Hotel President Wilson in Geneva, billed at US$65,000 per night, is listed at number 1 on World's 15 Most Expensive Hotel Suites list compiled by CNN Go in 2012.[12]

Four Points by Sheraton[edit]

Launched in 1995 under the Sheraton Group's brand, this brand is a set of mid-range hotels that replaced the Sheraton Inn sub-brand of Sheraton.

W Hotels[edit]

Main article: W Hotels

W Hotels is Starwood's luxury boutique hotel brand, generally marketed towards a younger crowd. It was launched in 1998 with the W New York, a conversion of the old Doral Inn hotel at 541 Lexington Avenue in Manhattan and the brand has since expanded with over fifty hotels and resorts around the world.

Though the hotels vary from newly built flagship properties to more modest conversions of previous hotels, they have a common theme of spare, minimalist modern decor and hip, informal names for categories of rooms and public areas. For example, the lobbies of all the hotels are known as the "Living Room." W Hotels attempt to include the letter W wherever possible - the swimming pool is known as "Wet", the concierge is known as "Whatever Whenever", the laundry bag in every room is known as "Wash", and so on.

St. Regis[edit]

St. Regis is Starwood's main luxury brand, launched in 1999. It is named for The St. Regis Hotel in New York, which was built in 1904 in Manhattan at 5th Avenue and 55th Street by John Jacob Astor IV, who also founded the Astoria Hotel (which later became the Waldorf-Astoria Hotel) and who died in 1912 on the RMS Titanic. In the 1930s, head bartender Fernand Petiot, introduced the Bloody Mary cocktail. The St. Regis was a Sheraton from 1966 on, and following a lavish restoration from 1985 to 1991 was part of the ITT Sheraton Luxury division before it became the cornerstone and flagship of Starwood's new brand. The brand is currently present on four continents with a total pipeline of 57 operating and signed hotels as of April 2016.

Le Méridien[edit]

Main article: Le Méridien

Le Méridien was founded by Air France in 1972 and was sold to Starwood in 2005, by which point it was based in the UK. It has a total of 137 properties operating or in the pipeline worldwide, with its first property being Le Méridien Etoile in Paris, France. Le Méridien is positioned as an upper-upscale brand in the Starwood hierarchy and offers properties with an edge towards art, design and local destination, with each hotel customized to its respective location with the intent of "unlocking destinations" for guests. Certain locations offer guests complimentary access to art galleries and museums through collaborations and partnerships. Le Méridien has a partnership with the Italian coffee roasting company Illy, serving and promoting Illy-branded coffee and products throughout its hotels around the world.

Aloft, a Vision of W Hotels[edit]

Main article: Aloft Hotels

Aloft is a mid-scale, urban-style business / boutique hotel brand. The brand was launched in 2005, in a relationship with W similar to Four Points by Sheraton and its 'brand parent', Sheraton.

Element by Westin[edit]

Announced in 2006, this is Starwood's first brand of hotels intended to be environmentally friendly. The designs include energy and water efficient features.[13] The first Element hotel opened in Lexington, Massachusetts in July 2008.[14] Element hotels are built eco-friendly from the ground up, from the floors made of recycled materials to energy-efficient lighting and plumbing fixtures. In 2013 the first Canadian location opened in Vaughan, Ontario. In September 2014 the first German location opened in Frankfurt.

Tribute Portfolio[edit]

Launched in April 2015, Tribute Portfolio is the 10th brand of Starwood.[15] Similar to The Luxury Collection brand, Tribute Portfolio is a collection of independent hotels but with a focus on four-star hotels instead of five-star ones.[16] Individual hotels under this brand gain access to Starwood's sales platform[16] and participate in the Starwood Preferred Guest loyalty program[15] but do not share their look and feel.[17]

Design Hotels[edit]

Main article: Design Hotels

Berlin-based Design Hotels provides hospitality services to a network of nearly 300 independently owned and operated hotels. Starwood has been a majority investor in the Design Hotels since 2011.[18] In October 2015, Starwood announced that it would add Design Hotels to its brand portfolio through a new marketing partnership.[19] Member hotels of the Design Hotels collection have the option to join the Starwood Preferred Guest loyalty program and gain access to Starwood's sales platform.[20] Design Hotels continues to operate independently.[18]

Starwood Preferred Guest[edit]

After the acquisition by Marriott was approved, the Starwood Preferred Guest program announced it would provide reciprocal benefits with Marriott's guest reward program. The two programs will be merged under a single brand in the future.[21]

Partnerships[edit]

Starwood has a credit card partnership with American Express. A former partnership with MBNA Canada Bank in Canada was replaced by American Express in 2010. Starwood Preferred Guest also has a partnership with 32 affiliated airlines allowing guests to redeem their points for flights under the "SPG Flights" program.[22] According to Starwood Hotels and Resorts' corporate profile, the SPG program has over 21 million members.[9]

Gallery[edit]

See also[edit]

References[edit]

  1. ^ "Form 10-Q". p. 7. Retrieved 2007-11-12. 
  2. ^ a b c d e f g h "STARWOOD HOTEL & RESORTS WORLDWIDE, INC 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 24, 2014. 
  3. ^ a b "STARWOOD HOTEL & RESORTS WORLDWIDE, INC 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. April 24, 2014. 
  4. ^ STARWOOD HOTELS & RESORTS WORLDWIDE, INC.Form 10-K, Securities and Exchange Commission, February 24, 2014
  5. ^ Starwood Hotels & Resorts (HOT) annual SEC income statement filing. Wikinvest. Retrieved 7 February 2011.
  6. ^ Starwood Hotels & Resorts (HOT) annual SEC balance sheet filing. Wikinvest. Retrieved 7 February 2011.
  7. ^ "Investor Overview". Starwood Hotels & Resorts Worldwide. Retrieved April 7, 2013.
  8. ^ "Starwood Hotels & Resorts (HOT) Details". http://investing.businessweek.com/. Retrieved 1 September 2014.  External link in |work= (help)
  9. ^ a b "Company Overview". Starwood Hotels and Resorts. 
  10. ^ Nycz-Conner, Jennifer (November 16, 2015). "Marriott International to acquire Starwood Hotels & Resorts Worldwide in $12.2 billion deal". Washington Business Journal. Retrieved November 16, 2015. 
  11. ^ Trejos, Nancy (September 23, 2016). "Marriott, Starwood merger is complete, loyalty programs will reciprocate". USA Today. Retrieved September 24, 2016. 
  12. ^ Arnold, Helen "World's 15 most expensive hotel suites". CNN Go. 25 March 2012. Retrieved 2012-04-11
  13. ^ "ELEMENT Lexington opens its doors". TTG MENA. Archived from the original on January 25, 2009. Retrieved 4 January 2009. 
  14. ^ "Opening Day of ELEMENT Lexington Marks the World Premiere of Starwood Hotels' Newest..." (Press release). Starwood Hotels & Resorts Worldwide. 1 July 2008. Retrieved 7 February 2011. 
  15. ^ a b "Starwood Hotels Introduces Tribute Portfolio" (Press release). Starwood Hotels & Resorts Worldwide. April 16, 2015. Retrieved April 17, 2015. 
  16. ^ a b "Why Starwood Launched Tribute Portfolio". Forbes. April 16, 2015. Retrieved April 17, 2015. 
  17. ^ "Starwood unveils a new 10th brand; Loews adds a third". USA TODAY. April 16, 2015. Retrieved April 17, 2015. 
  18. ^ a b "More Access, More Destinations: Starwood Hotels & Resorts Expands Partnership with Design Hotels" (Press release). Starwood. December 1, 2015. Retrieved February 1, 2016. 
  19. ^ "New Starwood brand to be partnership with Design Hotels". Travel Weekly. October 30, 2015. Retrieved February 1, 2016. 
  20. ^ "Hotel and Tour News: A Lodge in Kenya Evokes 'Out of Africa'". The New York Times. December 23, 2015. Retrieved February 1, 2016. 
  21. ^ "Marriott, Starwood merger is complete, loyalty programs will reciprocate". USA Today. Retrieved 24 September 2016. 
  22. ^ "SPG Flights". SPG Flights. Retrieved 2014-05-14. 

External links[edit]