Starwood shifts global headquarers to Dubai—for the time being4 Mar, 2013
Dubai, not Stamford, Conn., will be Starwood Hotels & Resorts Worldwide's global headquarters for the next month. Starwood President and CEO Frits van Paasschen and the company's top executives will conduct day-to-day business from Dubai. This follows the company's relocation to China in June 2011.
"With 80 percent of Starwood's pipeline coming from rapidly growing markets, it is simply not possible to lead a truly global business from a boardroom in Connecticut," said van Paasschen. "Rising wealth and ever greater global connectivity are creating a once-in-a-lifetime growth opportunity for our business – by fueling new demand, changing travel patterns, and entirely new travel markets. Dubai epitomizes this changing face of travel, and we expect this relocation will deepen our relationships with partners, associates and customers. Just as with our one-month relocation to China in 2011, our time in-market will spark new ideas that will fortify our position as the most global high-end hotel company."
During the course of the relocation, more than 200 Starwood executives and GMs from the U.S., Europe, Asia and Latin America will travel to Dubai.The team will meet with associates, customers, owners and prospective developers in the UAE.
"Globalization is accelerating new trade patterns, capital flows and wealth creation: this translates to more people from more places traveling to more destinations than ever before," said van Paasschen. "We are on the cusp of a new Golden Age of Travel, and Dubai is at the epicenter of this sea change."
External Source : Starwood Hotels and Resorts Worldwide
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