Marriott’s acquisition of Starwood on November 16, 2015 caused a sensation in the industry，Marriott deserves attention as an acquirer，Starwood is listed on the capital market、Exit to create liquidity，Tricks to increase investment returns are also worthy of attention。Starwood Capital Group has created or participated in 8 listed companies，Including Starwood 188bet online live casino Management Group。

The aroma of Starwood hotels is impressive。The 188bet online live casino lobby spreads a unique fragrance，For example, the lobby of the Westin 188bet online live casino exudes the elegant aroma of white tea，Mixed with geranium and freesia，Calming、Relax；The aroma in the Sheraton 188bet online live casino lobby is mixed with figs、Mint、Jasmine and Freesia Fragrance，Making people feel at home；Four Points uses the aroma extracted from apples and cinnamon，When you smell it, it reminds you of apple pie and the earthy style of the 188bet online live casino。The aroma is emitted from a concealed sprayer near the 188bet online live casino entrance。The perfume designed by perfume designer Manning first ensures that it does not cause allergic reactions in people，Also try to avoid offending those who are sensitive to fragrance。Scientific research believes，Smell and memory、Emotions are also processed by the same part of the brain，So aroma can affect people’s emotions。

The transfer of Starwood does have a big background。In the past 10 years，The average annual revenue per room growth rate of global five-star hotels is less than 2%，If inflation is taken into account，It can even be said to be negative growth。The decline in global 188bet online live casino group stock prices that began in early 2015 reflects the changes in supply and demand in the global 188bet online live casino industry，As a highly competitive industry，The 188bet online live casino industry has not performed well in the past five years。5 years from 2010 to 2014，Wyndham stock price rises 164%，Is the only 188bet online live casino group that outperformed the 124% increase in the market index；Marriott stock price rises 92%；Starwood and Hyatt shares rose 28% each；Hilton stock price rises 6%。Starwood’s net profit fell by 27% in the first quarter of 2015.74% to US million，Compared to the net profit of the same period last year was 1.US.7 billion；Earnings per share of 58 cents，Down from 71 cents a year ago。Operating income in the second quarter of 2015 14.USD 800 million、Decreased by 3 year-on-year.8%；Net profit 1.USD 3.6 billion、11 year-on-year decrease.11%。Operating income in the third quarter of 201514.USD 300 million，YoY decrease 4.0%；Net profit 0.USD 8.8 billion，YoY decrease 19.3%，Starwood’s operations declined for 8 consecutive quarters。

1. Starwood’s 11 188bet online live casino brands

1222 hotels in total、354225 rooms。2 of them own real estate.95%，36 wholly-owned companies、13 of them are in North America。Most of Starwood’s guest rooms are located outside North America，There are more than 150 hotels in China。Starwood’s 11 188bet online live casino brands include Westin、Sheraton、Regis、Luxury Collection、W 188bet online live casino、Aimee、Four Points、Aloft、Source、Tribute Portfolio、Design Hotels。

The last brand, Design Hotels, was confirmed by Starwood on December 1, 2015，Starwood has been the largest shareholder of Design Hotels since 2011。Over 20 years，Design Hotels has provided distribution for nearly 300 independent member hotels and resorts around the world for more than 20 years、Sales and Marketing Support。DesignHotels as Design 188bet online live casino Alliance，Emphasis on original design。The three members of Design Hotels in China include Shanghai Puli 188bet online live casino (the wall of the library opposite the lobby bar is made of pieces of real pearl fish skin，It is the posthumous work of Aman’s royal designer Jaya)、Shanghai Seaside 188bet online live casino (Neri&Hu’s famous 188bet online live casino design studio，19 rooms with different interior designs，Configure Arne Jacobson、Exquisite furniture designed by designers such as Finland and Hans Wegner)，Shanghai Swatch Peace 188bet online live casino Art Center (formerly the "Huizhong 188bet online live casino" in the south building of the Peace 188bet online live casino designed by British architect Walter Scott，18 rooms invite artists from all over the world to create works)。

Three 188bet online live casino brands account for half of the newly opened hotels。Four Points by Sheraton、Aloft、Three Element brands accounted for 35 of the 74 newly opened hotels of 188bet online live casino Group in 2014.30%，Nearly 40% of the 100 newly signed hotels；will still account for nearly 50% of newly opened hotels in 2015。Four Points by Sheraton signed 50 contracts in 2014，Will exceed 200 in 2015，Upcoming Four Points include: Phoenix Mesa Gateway Airport (March 2015)、Downtown New York (March 2015)、Las Vegas East Flamenco (April 2015)、Lake Norman, Charlotte (May 2015)、Vadodara (June 2015)、Istanbul (June 2015)、Penghu (June 2015)、Chengdu Anren (September 2015)。Aloft (a technology and fashion brand) signed 31 contracts in 2014，Plan to open the 100th store in 2015，Upcoming Aloft hotels include: Downtown Manhattan Financial District (February 2015)、Downtown New Orleans (February 2015)、Chengdu Shixiang Lake (March 2015)、South Beach (March 2015)、Stuttgart (July 2015)、Munich (August 2015)。Element (a brand of high-performance building energy and environmental design certification standards) signed 19 contracts in 2014，Will increase to 3 times the current value in 2017，Upcoming Element hotels include: Vancouver Metrotown (February 2015)、Suzhou Science and Technology City (May 2015)、Amsterdam (November 2015)、Boston Waterfront (December 2015)。

Starwood launches Sheraton Grand 188bet online live casino，The first batch of 10 Sheraton hotels include: Sheraton Grand Beijing Jinyu 188bet online live casino、Sheraton Grand Taipei 188bet online live casino、Sheraton Miyazaki Grand Ocean Resort、Sheraton Grand Sukhumvit 188bet online live casino, Bangkok、Sheraton Grand 188bet online live casino, Dubai、Sheraton Grand Bangalore 188bet online live casino、Sheraton Grand Walkerhill、Sheraton Grand Tokyo Bay 188bet online live casino、Sheraton Grand 188bet online live casino & Spa, Edinburgh、Sheraton Grand Rio 188bet online live casino。Plans to develop 50 Sheraton hotels around the world by the end of 2015、Increased to 100 at the beginning of 2017，Strive to open more than 150 new Sheraton hotels around the world by 2020。

2. The grandfather of the Starwood 188bet online live casino brand: Starwood Capital

Established in 1991，As a real estate fund management company，In the past five years, a total of US.6 billion in private equity real estate funds have been raised，Ranked second only to Blackstone Group in 2015。In the past 24 years，Starwood Group has acquired a total of US billion in assets，Current total assets under management billion，Owned or managed assets include 84,000 apartments、55 million square feet of office space、50 million square feet of retail property、2500-seat 188bet online live casino、49,000 residential lots, etc.。

The main business components of Starwood Capital Group include: global opportunistic real estate investment，The group has launched a total of 13 private real estate funds，Includes 9 opportunity funds，2 188bet online live casino funds，2 real estate debt investment funds。The specific business involves real estate claims for normal performance、188bet online live casino Management Group、Retail Property Investment、Mortgage Securitization Services、Residential Business、Real Estate Securities Investment、Energy infrastructure business、Oil and gas resources investment。

Starwood Capital has created or participated in 8 listed companies in 22 years，Includes 1 188bet online live casino management company、1 residential development company、1 rental apartment REITs、1 rental villa REITs、2 commercial real estate mortgage REITs、1 commercial real estate mortgage investment fund listed on the London Stock Exchange，1 commercial bank focusing on real estate business that took shares during the financial crisis。Specifically include: Starwood 188bet online live casino Management Group；EquityResidential (NYSE: EQR)，The largest rental apartment REITs in the United States；Starwood Waypoint Residential Trust (NYSE: SWAY)，Large REITs in the single-family rental space；TRI Pointe Homes (NYSE: TPH)，A large real estate developer on the West Coast of the United States，It is also the first newly listed residential development company in the United States after the financial crisis；Starwood Property Trust (NYSE: STWD)，The largest commercial real estate mortgage REITs in the United States；iStar Financial (NYSE: STAR)，U.S. large commercial real estate mortgage REITs；Starwood European Real Estate Finance (LSE: SWEF)，A commercial real estate mortgage investment fund that invests in the European market and is publicly listed on the London Stock Exchange；OpusBank (NASDAQ: OPB)，Commercial bank serving small and medium-sized enterprises and high net worth individuals，Especially good at the design of real estate financial solutions。The total market value of the above eight listed companies has reached 52 billion US dollars。

3. The father of the Starwood 188bet online live casino brand: Starwood 188bet online live casino Group

Starwood has transformed from a capital management company into a large group through mergers and acquisitions，Later, Sheraton was acquired through snacks。Sheraton started from one 188bet online live casino in the 1960s，The stock was purchased by ITT (Northern Telecommunications Corporation) in the 1970s，The combination of ITT’s funds and Sheraton’s professional 188bet online live casino management skills made Sheraton famous，Sheraton separated from ITT in the late 1990s。

The establishment of Starwood 188bet online live casino Management Group can be traced back to the establishment of Starwood Capital Group No. 2 Fund in 1993。Starwood Capital Group was founded in 1991，Earned the first pot of gold through the acquisition of non-performing assets in the residential sector，1993，Starwood Capital Group launched the second fund, Starwood Opportunity Fund II (SOF II)，Raising funds 1.USD 0.2 billion。With the support of Fund No. 2，1994，Starwood Capital Group acquired most of the distressed debt of 188bet online live casino Investors Trust (HOT), a 188bet online live casino REITS company on the verge of bankruptcy，And put all the 188bet online live casino assets held by its No. 1 Fund and No. 2 Fund into the listed company HOT，In exchange for 75% of the equity of HOT company，After the reorganization, HOT holds a total of 47 188bet online live casino interests，Became the largest 188bet online live casino REITS company in the United States at the time，Thus laid the foundation for the birth of Starwood 188bet online live casino Group。1995，Starwood Capital Group’s funds have joined forces with Goldman Sachs Group to 5.Buy the Westin 188bet online live casino brand from a Japanese company for US.7 billion。1998，Starwood 188bet online live casino Group acquired ITT Sheraton for a total price of US.6 billion，Get Sheraton、Four Points by Sheraton、The three major 188bet online live casino brands of The Luxury Collection。

Created the luxury boutique 188bet online live casino brand WHotel in 1998，Created the luxury 188bet online live casino brand St. Regis (St in 1999.Regis），As the founder of Starwood 188bet online live casino Group，Sternlicht served as CEO of the 188bet online live casino group until 2004，After that, he began to fully return to the investment business of Starwood Capital Group，Focus on the management of real estate funds。But he still maintains close cooperation with Starwood 188bet online live casino Group。Wfor traditional definition of luxury；The Luxury Collection has five、A six-hundred-year-old landmark building，Like the palace of Alfonso XIII；The luxury of St. Regis 188bet online live casino is aimed at the global elite，Copy the social tradition of the upper classes centuries ago。W 188bet online live casino rejects the sameness of traditional hotels，Thus becoming a leader in a new aesthetic movement。The first W New York 188bet online live casino opened in December 1998，At the same time, it set off a trend all over the world。

August 25, 2005，Starwood Hotels Corporation acquires the Le Meridien brand and all its managed and franchised hotels，More than 130 hotels and resorts in total。A joint venture between Starwood Global Capital Group and Lehman Brothers acquires LeMeridien’s owned and leased hotels。Le Méridien was born in 1972，Created by Air France at the time，Aimee entered Shanghai in 2004，Two hotels in People’s Square and Sheshan opened in November 2005 and 2006 respectively。In the "Luxury Brand Ranking" in 2005，Le Méridien International 188bet online live casino Group was named one of the top 15 luxury 188bet online live casino brands in the world。

Starwood, which entered China in 1985, has doubled in size every two years since 2011，Doubled capacity from 2011 to 2013，Plan to double the capacity by the end of 2015。146 Starwood hotels opened in Greater China，143 under preparation。Starwood Greater China is expected to add 20 new hotels in 2015，There are 2 luxury 188bet online live casino brands、12 high-end brands、6 featured selected brands，Specifically including 1 St. Regis、Luxury Collection 1、Westin 2、Aimee 2 Home、Sheraton 8、Four Points 4、1 Aloft、Element 1。All nine major brands will enter China in 2015。The Sheraton Great Wall 188bet online live casino, opened in 1985, is China’s first international brand 188bet online live casino，Starwood’s 1000th 188bet online live casino is the Sheraton Qiandao Lake Resort，The catering revenue per unit area of ​​Sheraton Changsha Yunda 188bet online live casino ranks first among more than 1,000 hotels in the world，60% of the guests of hotels in China come from China。2011，Starwood briefly moved its headquarters management to China for the first time in its history，The purpose is to have a deeper understanding of China，And provide experience to decision-makers from the United States。

W Hotels will open 8 new hotels in China by 2019，Except Xi’an，Also includes Shanghai、Shenyang、Sanya、Suzhou、Changsha、Chengdu、Xiamen、Macau。Other cities that will welcome W 188bet online live casino include Chengdu、Suzhou、Sanya、Xiamen and Shenyang。

The St. Regis brand currently has 6 stores in China, each in Beijing、Chengdu、Lhasa、Sanya Yalong Bay、Shenzhen、Tianjin，9 planned hotels in Macau、Changsha、 Lijiang、Nanjing、Zhuhai、Haikou、Sanya Haitang Bay、Hainan Clearwater Bay、Guiyang。

2014，188bet online live casino Capital Group has sold ownership of 30 of the 32 Le Meridien hotels it purchased，However, these hotels will still be managed by 188bet online live casino Hotels Group，The hotels under the Le Méridien brand have expanded to more than 130。

Starwood opened 74 new hotels in 26 countries around the world in 2014，The total number of new rooms is approximately 1.50,000 rooms；175 new 188bet online live casino management and franchise agreements signed，15% increase year-on-year；Renewed or extended 76 existing agreements；More than 1,200 hotels in 100 countries and regions around the world。Planned to open the 300th 188bet online live casino in Asia Pacific and China in 2015、The 150th 188bet online live casino in China (all 9 brands entered)、The 90th 188bet online live casino in Africa and the Middle East；In terms of brand，Includes 175th luxury 188bet online live casino、The 750th high-end 188bet online live casino、The 300th mid-range 188bet online live casino。

188bet online live casino increased by 0 in 2014.70,000 rooms、Up 2 year-on-year.0%，Existing 344233 guest rooms，Planned to add 10.80,000 rooms。188bet online live casino’s room growth rate in 2014 2.0% is much lower than the expected 4% to 5%，The number of new guest rooms planned in the future is 10.80,000。The resigned CEO of 188bet online live casino, Chen Shengfu, once summarized the reason why 188bet online live casino’s room growth fell behind in 2014 on February 10, 2015: focusing on long-term development，Long construction period；Few hotels are renovated；Rising share of select-service hotels with fewer rooms。175 management and franchise contracts signed in 2014, second best year in company history。

2006 to the end of 2014，188bet online live casino sells 87 hotels in total，Received .1 billion in revenue。

4. 188bet online live casino’s serious level redemption adjustments

2% of SPG guests bring 30% of Starwood’s profits。The management fees and franchise fees received by Starwood are 80% of the total revenue。SPG Club registered a new member every 20 seconds in China in 2013，Gold and Platinum elite members (staying more than 25 nights per year) increased by 53% compared with the same period in 2012。More than 30% of general managers and 79% of 188bet online live casino senior executive committee leaders in Starwood hotels in China are Chinese。55% of guests staying at Starwood China hotels are Starwood SPG members，China’s SPG club is the second largest market after the United States，It is also the fastest growing market。The number of SPG members in China increased by 108% in the three years from 2011 to 2014。66% of Chinese hotels are Chinese guests，95% of third-tier cities are Chinese guests。

There are 5 levels of SPG member points redemption within the Starwood Group，10000 points are at the fourth level，7000 points belong to the third level。January 2015，Hilton 188bet online live casino Group completes 2015 tier redemption adjustments for its hotels。More than 22% of Starwood hotels have adjusted their tiers，10 of them.49% increased the level，11.78% of hotels have been downgraded。The 11 hotels in China that have been upgraded by Starwood since March 10, 2015 are: Aloft Beijing Haidian 188bet online live casino Level 1 and Level 2、Four Points by Sheraton Beijing Haidian Yongtai 188bet online live casino Level 2 to Level 3、Four Points by Sheraton Hangzhou Longxi 188bet online live casino Level 1 to Level 2、Four Points by Sheraton Taizhou Yuhuan 188bet online live casino Level 1 to Level 2、Hefei Xinzhan Ligang Sheraton 188bet online live casino Level 1 to Level 2、Sheraton Shanghai Waigaoqiao 188bet online live casino Level 1 to Level 2、Sheraton Shantou Longguang 188bet online live casino Level 2 to Level 3、The Westin Blue Bay Greentown Resort 188bet online live casino Level 4 to Level 5、Hefei Wanda Westin 188bet online live casino Level 3 to Level 4、The Westin Ningbo 188bet online live casino Level 2 to Level 3、The Westin Zhujiajian Resort Zhoushan Level 3 to Level 4。The 15 hotels in China whose grades have been downgraded are: Four Points by Sheraton Bijie from Level 2 to Level 1、Four Points by Sheraton Sanya, Level 3 to Level 2、Four Points by Sheraton Shanghai Daning Level 3 to Level 2、Changsha Yunda Sheraton 188bet online live casino Level 4 to Level 3、Sheraton Changzhou Wujin Jiuzhou 188bet online live casino Level 2 to Level 1、Sheraton Chongqing 188bet online live casino Level 4 to Level 3、Sheraton Dongguan 188bet online live casino Level 3 to Level 2、Guilin Sheraton 188bet online live casino Level 2 to Level 1、Guiyang Sheraton Guihang 188bet online live casino Level 4 to Level 3、Sheraton Langfang Chaobai River 188bet online live casino Level 2 to Level 1、Sheraton Xindu Greentown 188bet online live casino Level 2 to Level 1、Xiamen Sheraton 188bet online live casino Level 3 to Level 2、Zhengzhou Mosaic Sheraton 188bet online live casino Level 3 to Level 2、Yuhaitang Resort, a Luxury Collection Resort, Sanya Level 5 to Level 4、The Westin Nanjing 188bet online live casino Level 4 to Level 3。

5. Starwood is the first to use 188bet online live casino robots

August 20, 2014，Aloft 188bet online live casino in Cupertino, Silicon Valley, USA opens Arlo (A.L.O.) Robot 188bet online live casino Butler，After receiving the guest’s request, we will quickly take the elevator from the second floor of the 188bet online live casino to the door of the corresponding room，Able to hand over a towel、Toiletries such as toothbrushes。Will spin and dance when saying some compliments to guests who are satisfied with the service。The robot’s R&D and design company is Savioke, which was founded in Sunnyvale, California, in 2013。Starwood Group’s Aloft 188bet online live casino in Cupertino, California has launched a robot butler called Botlr，Ability to provide food, toothbrushes and other items to guest rooms in the evening。This robot looks like R2D2 from the movie "Star Wars"，Made by Savioke, a startup in Santa Rosa, California。The company started developing Botlr more than a year ago，The purpose is to help 188bet online live casino employees complete daily repetitive tasks。Google invested in Savioke earlier this year。Botlr is a fully automated robot butler。This robot can remember all the passages in the 188bet online live casino、Elevator and guest room locations，Using lidar for navigation，Determine the road，And use the camera to avoid collisions with people and obstacles。Google’s self-driving cars also use lidar navigation technology。When 188bet online live casino guests call the front desk for service，188bet online live casino employees can enter information into the robot。Just press a few buttons，The robot can provide guests with the items they need。Botlr can call the elevator through the 188bet online live casino’s WiFi network，Get on the elevator，Then go to a specific floor，None of these operations require the robot to touch the elevator control panel。Savioke plans to launch similar pilot projects in other hotels in 2015。The company plans to provide Botlr robots as a service to hotels，And charge monthly service fee。The company will be responsible for the daily maintenance of the robot。Botlr robot is only available for hotels with compatible internal systems。for example，Aloft Cupertino 188bet online live casino upgraded the new WiFi system for the elevator，So that the Botlr robot can detect and use the elevator。Botlr robot is also suitable for restaurants、Hotels, nursing homes and other places。

September 9, 2014，Apple CEO Cook showed 2 cases，One of them is the independent APP of 188bet online live casino Hotels and Resorts Group through the combination of software and hardware，Guests can easily unlock the guest room door through Watch。Apple Watch is the first wearable device launched by Apple，Estimated to be officially launched in early 2015。188bet online live casino’s own APP is compatible with this smart watch，Provide watch door opening service for SPG members，Guests can simply hold their watch close to the door and touch the screen to open the door。Kevin Lynch, Apple’s Vice President of Technology said，All W hotels around the world will activate this function in 2015。

November 5, 2014，Starwood Mobile “SPG Smart Check-in” program at Aloft Beijing Haidian 188bet online live casino、W 188bet online live casino Hong Kong、Aloft Harlem、Aloft Cupertino、Aloft Cancun、W 188bet online live casino New York City Center、W 188bet online live casino Hollywood、W 188bet online live casino Singapore、10 hotels including W 188bet online live casino Doha and Element New York Times Square are the first to implement it。Starwood Group plans to open Aloft in the first half of 2015、150 hotels under the Element and W 188bet online live casino brands around the world，A total of 30,000 rooms have enabled the "SPG Smart Check-in" solution。

February 25, 2015，188bet online live casino announces the establishment of Starlab, a brand innovation laboratory in Manhattan Fashion District, New York。Starlab is design-led，188bet online live casino has launched the "188bet online live casino Experience" at its global headquarters in Stamford, Connecticut and its previous design center in Tribeca, New York。

March 2015，A 188bet online live casino under Starwood has become the first batch of pilot hotels to stay in with Alibaba Travel’s “Future 188bet online live casino” credit。Alibaba’s combination includes Taobao 3.500 million users、Sesame Credit、Alipay、Huabei、Alibaba Cloud and Shiji。Starwood hotels in China will gradually access Alipay offline scan code payment，Being the first among international 188bet online live casino groups to adopt the front-end PMS integrated scan-to-pay solution provided by Shiji Information。

6. Social Responsibility of 188bet online live casino

June 2014，188bet online live casino Hotels & Resorts Worldwide releases corporate responsibility report "188bet online live casino Global Citizen"，Including reducing greenhouse gas emissions by 30% by the end of 2020。188bet online live casino has helped more than 2,700 employees survive natural disasters or emergencies since 2006；Donated .8 million to charity in 2012，More than 43,000 employees have accumulated approximately 129,000 hours of volunteer work in local communities。

188bet online live casino clearly stated: before 2020，To reduce energy consumption by 20% group-wide，Reduced water consumption by 30%，Carbon emissions reduced by 30%。

Starwood Asia Pacific has achieved significant results in energy conservation and consumption reduction，12% less energy consumption in 2014 than in 2008.03%，Carbon emission reduction 10.61%，Reduce water consumption 15.06%。Based on 2008，Starwood Group achieves energy consumption on a global scale、Carbon emissions and water consumption reduced by 12% respectively.08%、16.07% and 17.26%。Starwood hotels in China have reduced energy consumption by 12.96%，Reduce water consumption 11.98%。Le Méridien Shanghai Shimao Sheshan is a leader among hotels in Greater China in terms of energy conservation and emission reduction，From 2008，This 188bet online live casino combines daily operational adjustments and 188bet online live casino renovation projects，Reducing energy consumption 27.96%，Carbon emissions reduced by 29.52%，Water consumption has also been reduced by 22.6%。

＊Author of this article: Zhao Huanyan，Chief Knowledge Management Expert of Huamei 188bet online live casino Consulting Co., Ltd.，Special researcher at the Tourism Research Center of Shanghai Academy of Social Sciences，Zhihui travel expert author。

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