Starwood Hotels & Resorts Worldwide today unveiled its 10th hotel brand and its second collection of independent hotels: Tribute Portfolio.
Like Starwood's other hotel collection, The Luxury Collection, Tribute Portfolio will consist of independent hotels and resorts that wish to maintain their independence while leveraging Starwood's vast sales and marketing network. The collection, whose first member is the Royal Palm South Beach Miami, will specialize in four-star, upper upscale hotels.
"With Starwood's history of brand innovation, design leadership, and our leading global high-end footprint, we believe Tribute Portfolio will be an exciting solution for hotel owners of distinct properties who wish to maintain their independent spirit, yet benefit from Starwood's powerful distribution, loyalty, and sales platforms," Starwood CEO Adam Aron said in a statement.
While hotels will benefit from Starwood's brand, systems, and reach, Starwood likewise will benefit by bringing new members to its Starwood Preferred Guest (SPG) loyalty program, and by bringing new hotels and new destinations to existing SPG members who have asked for more travel options.
"Our mission with Tribute Portfolio is very simple: Bring great hotels in great destinations to our loyal SPG members, who make up more than half of all Starwood stays," Aron continued. "We recognize that independent hotels also attract guests who are not already affiliated with SPG. Tribute Portfolio will provide a clear opportunity for us to grow our SPG member base and deliver more loyal guests across all of our Starwood hotels worldwide."
Starwood plans to have 100 Tribute Portfolio hotels and resorts within five years, initially focused in North American and European markets where Starwood lacks a presence. Hotels already are planned in Asheville, NC; Nashville; Savannah, GA; and Charleston, SC.
"Nearly 50 percent of upper upscale hotels in the U.S. are independent, and likewise, 60 percent of four-star hotels globally are not affiliated with a brand flag. This provides Starwood with a vast landscape to grow Tribute Portfolio," said Dave Marr , senior vice president of brand management, North America, and global brand leader for Tribute Portfolio. "In speaking with many owners, it is clear that they welcome the opportunity to partner with Starwood to enhance the performance of their independent hotels. They are attracted to the benefits that will come from the power of SPG and our high-end Starwood sales customers coupled with the flexibility of minimal brand-specific standards."
In honor of its 10th brand, Starwood is offering SPG members up to 10,000 bonus points for stays at Tribute Portfolio hotels through July 15, 2015. For more information, visit www.spg.com/tributeportfolio.
For a recap of recent top stories, check out MeetingNews Minute: