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September 2022, Virtual
September 29 2022, Virtual
US-headquartered global hotel group, Starwood, anticipates signing 200 deals and opening at least 80 new hotels by the end of 2007, with around half of the expansion planned for key markets outside the US.
The company currently operates 420 hotels, totalling 100,000 rooms, with 38% of its portfolio in the upscale and luxury segments.
In the next three years, Starwood plans to double its presence in China ” where it currently operates 34 hotels ” as well as add 50 hotels in Europe, the Middle East and Asia, in order to meet its highest level of demand outside the US to date.
In addition, the group plans to focus on new brand development with a particular emphasis on areas where it has a more limited presence. New for 2008 are the Aloft and Element projects ” the former a new select-service brand and the latter intended for the extended stay market, with projects set for cities such as Beijing, Brussels and Sydney.
”Starwood has garnered more than its fair share of new hotel deals as a direct result of the tremendous value we create for owners and developers through the distinct positionings of each of our brands in the global marketplace,” said president global development, Raymond Gellein.
”We look forward to continuing our aggressive expansion in destinations and markets around the world in which we have traditionally not had a presence.”
Pictured: The lobby at the Sheraton Grand Tai Ping Yang Shanghai