An Indie Darling: Tribute Portfolio Sees Impressive First Year, Doubling Growth Projections and Reaching 20 Hotels Globally

STAMFORD, Conn. -- Tribute Portfolio, a collection of independent hotels and resorts from Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), today announced three new signings, bringing the brand's footprint to 20 properties worldwide, exactly double the original growth projection for its first year. Continuing to global expansion with its first-ever property in China and continuing to expand in Florida with signings in Tampa and Sarasota, Tribute Portfolio maintains its steadfast position as having the fastest takeoff of any Starwood brand, ever, while also celebrating its individuality through innovative social media and brand partnership strategies. With a long runway to grow, Tribute Portfolio continues to add exceptional properties around the globe that offer guests and owners the ability to "Stay Independent."

From the Bustling City of Shanghai to the Sunny Coast of Florida

With momentum steadily building for the one year old brand, Tribute Portfolio once again answers consumer demand with the addition of three properties in Shanghai, Sarasota and Tampa. When surveying Starwood Preferred Guest^®(SPG) Members, the brand found that 62% would be very interested in staying at a Tribute Portfolio hotel in Shanghai. Answering this call, Tribute Portfolio will expand its footprint in Asia by adding a property in the cosmopolitan Chinese city. Members also told the brand that beach destinations remain at the top of their list, particularly in Florida. As a result, the brand will open an additional two new properties in the Sunshine State: a 323-room hotel in Tampa, and The Sarasota Modern, a Tribute Portfolio Hotel, in Sarasota.

Giving Guests -- And Owners -- What They Want

From boutique resorts to urban destination properties, Tribute Portfolio gives guests access to outstanding upper upscale hotels with an independent spirit, all while benefitting from the award-winning SPG^® program. Built and fueled by consumer preferences, Tribute Portfolio carves out its distinction in the category through its close collaboration with the SPG community.

"The independent hotel segment has continued to grow exponentially, with consumers increasingly desiring travel to hotels and resorts that don't fall under a cookie-cutter brand," said Dave Marr, Global Brand Leader, Tribute Portfolio. "This trend, coupled with the strength and support of our owner and developer community, has contributed to the meteoric growth of the brand and its continued success as we enter our second year."

Tribute Portfolio debuted in April 2015 with its first hotel, the Royal Palm South Beach Miami, and has since opened eight additional properties: the Great Northern Hotel in London, UK; The Kiroro Resort in Hokkaido, Japan; The Hermitage in Jakarta, Indonesia; the SLS Las Vegas in Las Vegas, NV; The Riviera Palm Springs in Palm Springs, CA; Avenue of the Arts in Costa Mesa, CA; and Le Dokhan's and Le Metropolitan, both in Paris. Future locations includeCoral Gables, FL; Fort Lauderdale, FL; Tampa, FL; Sarasota, FL; Asheville, NC; Nashville, Tennessee; Savannah, GA; Charleston, SC; Denver, CO; Shanghai, China; and Quebec City, Canada.

With flexibility and individuality at its core, Tribute Portfolio has also struck a chord with the owner/developer community, enabling them to maintain their independent spirit, while benefiting from Starwood's powerful distribution, loyalty and sales platforms.

"The rapid rate of growth that Tribute Portfolio has achieved comes as no surprise, combining Starwood's robust sales, marketing and loyalty programs with the flair and individualism of the independent boutique hotelier," said Jeremy Robson, Owner-Operator, Great Northern Hotel, London. "I am delighted that Great Northern Hotel is now part of the Tribute Portfolio franchise, and the abundant positive feedback we get from our customers indicates they feel the same. I expect the brand's global expansion to continue accelerating way beyond the most optimistic of forecasts."

Reaching Socially Connected, Independent-Minded Travelers

Shifting focus from being the expert on the destination, Tribute Portfolio instead elevates the notion that guests seek out independent hotels because the hotels themselves can be the destination. To capture this, each Tribute Portfolio property features a noteworthy selection of #independentmoments: distinct design details and experiences that illustrate what guests love about "staying independent." In addition, Tribute Portfolio is the first hotel brand to partner with consumer shopping service, LIKEtoKNOW.it, enabling travelers to translate their wanderlust into room bookings at two of the Tribute Portfolio brand's newest hotels – Le Metropolitan and Le Dokhan's – directly by "liking" a photo on Instagram. Finally, the brand also launched a new partnership with Pitchfork that will bring unique pop-up music activations to several Tribute Portfolio properties worldwide, exposing guests to emerging artists and established pioneers who apply a true independent mindset to their musical craft, regardless of genre.

For more information, please visit www.tributeportfolio.com.

Media Contact

Tanya Elm

Starwood Hotels & Resorts [email protected] 917-202-5309