STAMFORD, CT—In 2012, Starwood Hotels & Resorts Worldwide, Inc. signed more hotel deals than it has since before the economic crisis.
According to the company, by year’s end, it expects to have signed more than 125 new management and franchise agreements, surpassing last year’s numbers by 13%. Approximately 20% of the deals signed were conversions. By year’s end, the company expects to have opened 71 new hotels, adding 18,500 rooms in 20 countries to its portfolio.
Starwood’s pipeline in developing markets also is growing and the company expects to open its 125th hotel in China in 2013.