Tribute Portfolio Reaches New Heights with Premiere Urban Property in Mile-High City
Addition of a New Hotel in Denver Puts Brand On Pace to Double Growth Projections by First Anniversary
STAMFORD, Conn. -- Tribute Portfolio, part ofStarwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), today announced the signing of a new boutique hotel in Denver, Colorado, anchoring the brand's presence in North America alongside its coastal properties. Slated to open in September 2018, the 165-room new build will be situated in Lower Highlands, an eclectic downtownDenver neighborhood that embodies the Tribute Portfolio brand's indie spirit. Marking the 14th property signing since launching last April, Tribute Portfolio is poised to double its initial first-year growth projections, with more than 20 hotels open or in queue by this spring.
Created for and by Starwood Preferred Guest® (SPG®) members, Tribute Portfolio has already answered demands for more access to booming markets such as Miami, Las Vegas, London and now,Denver. In addition to the city's ideal location near classic ski towns, Denver is becoming an increasingly popular destination for travelers looking to experience the city's burgeoning art and design scene.
"Our approach to evolving the Tribute Portfolio brand centers on listening closely to our SPG members and owners as we plot our growth strategy. This tactic continues to pay off as we are fortunate to work alongside some of the best ownership teams in the industry, including St. Charles Town Company, LLC," said Dave Marr, Global Brand Leader for Tribute Portfolio. "In a recent survey we conducted this past December, nearly 65% of our guests named Denver as one of the next places they'd like to see a Tribute Portfolio hotel, and within months the brand has delivered."
Located in Lower Highlands (LoHi) on the west side of downtown Denver, the new hotel, whose name will be released later this year, will bring to life the soul of "Stay Independent" through the indie experiences that can be found in this stylish neighborhood – from Linger, a bar and restaurant located in a former mortuary, to Little Man Ice Cream, built in a 28-foot tall, 14,000 lb. cream can. In addition to offering stunning views of downtown Denver from its rooms and rooftop, the new LoHi hotel will also be a short hop to Downtown Denver, numerous art museums and venues and local sports arenas, Pepsi Center, Mile High Stadium and Coors Field.
"Denver and our new hotel will be a must-visit destination for travelers looking to bask in the city's arts and culture, culinary and music scenes set against a majestic mountain backdrop," said Charlie Woolley, President, St Charles Town Company. "Embarking on a partnership with Tribute Portfolio enables us to provide a truly independent experience for our guests who can also benefit from the SPG rewards program."
En Route to One Year
Offering owners, SPG members and guests alike the ability to "Stay Independent," Tribute Portfolio debuted in April 2015 with its first hotel, the Royal Palm South Beach Miami, and has since opened five 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; and the Riviera Palm Springs in Palm Springs, CA. Future locations include Coral Gables, FL; Costa Mesa, CA; Fort Lauderdale, FL; Asheville, NC; Nashville, Tennessee; Savannah, GA; and Charleston, SC. Firmly anchored in the upper upscale category, Tribute Portfolio allows owners to maintain their independent spirit, while benefiting from Starwood's powerful distribution, loyalty and sales platforms.
"At our core, Starwood builds world-class brands with distinct personalities," said Allison Reid, Senior Vice President of Development, North America, Starwood. "With Tribute Portfolio, we are committed to providing an assortment of high-end hotels that offer a bold travel experience, backed by the Starwood 'seal of approval' that our guests and owners expect."
For more information, please visit www.tributeportfolio.com.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels &
