Starwood Hotels & Resorts, Inc. has invested $3 billion in existing and new Le Méridien properties since the company acquired the brand in late 2005. With a pipeline of several Le Méridien hotels planned over the next 12 months, Starwood will invest another $1 billion in the brand.
“Over the past seven years, Starwood has made significant investments in developing Le Méridien as a contemporary lifestyle brand with a truly distinct point of view, and with the tremendous support of our ownership groups, we have also transformed the portfolio into its most competitive position to date,” says Brian Povinelli, global brand leader, Le Méridien and Westin.
Le Méridien has undergone a full brand transformation-including a comprehensive portfolio review and re-development of its brand strategy, marketing approach, and hotel service standards. Le Meridien has also removed more than 40 hotels and resorts from the original portfolio purchased by Starwood, while another 25 hotels have undergone renovations.
“The Le Méridien portfolio is the strongest it has ever been, and the brand is benefiting from growing recognition and deal signing momentum around the world,” says Simon Turner, president of global development, Starwood Hotels & Resorts. “Le Méridien is poised for expansive growth in primary cities and resorts around the globe, and we’re continuing to see increased interest among owners, especially around conversions.”
Le Méridien has had more new hotel deals signed in the past year than in the previous four years combined. Earlier this year, the brand announced a growth pipeline of 10 new hotels and resorts expected to open by early 2014including properties in Cairo, Chicago, China, and India.
