Starwood to increase pace of expansion
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- June
- 4
Starwood Hotels & Resorts Worldwide Inc. announced yesterday that it expects to greatly expand the pace of new hotel openings this year as it looks to take advantage of strong economies and surging tourism around the world.
The White Plains-based company said that it anticipated opening more than 80 new hotels worldwide in 2007, nearly double the openings last year.
Starwood, whose brands include Sheraton, Westin and St. Regis, currently owns, manages or franchises 870 hotels in 95 countries.
“We look forward to continuing our aggressive expansion in destinations and markets around the world in which we have traditionally not had a presence,� said Raymond “Rip� Gellein, president of Starwood’s global development group.
Starwood is targeting international markets for more than half the new hotels. The most ambitious expansion plans are centered on China. The company currently operates 34 hotels in China and anticipates more than doubling its presence there in the next three years.
In Latin America, the company has announced plans for 12 new hotel projects. In Europe, Africa and the Middle East, Starwood said that it anticipates nearly doubling the number of new hotel projects this year and plans 50 hotels in the region in the next three years.
In North America, Starwood said that its development pipeline has never been stronger with nearly 200 hotels expected to open during the next three years.
This entry was posted
on Monday, June 4th, 2007 at 5:51 pm by David Schepp.
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