Starwood to open 50 new hotels in Europe over next five years5 Mar, 2013
Starwood Hotels & Resorts Worldwide said it plans to open 50 new hotels in Europe over the next five years, including nine new hotels across the continent in 2013. The company noted that the plan will boost its European hotel portfolio by 30 percent. In addition, Starwood will enhance its existing portfolio of European luxury hotels. Along with its owner partners, the company will invest more than $200 million to renovate and restore its Luxury Collection hotels and add the King George hotel in Athens to its Luxury Collection portfolio later this year.
At the International Hotel Investment Forum in Berlin, Simon Turner, president of global development for Starwood said, "Europe continues to be home to many of the world's most sought-after destinations and to attract travelers from markets around the globe. There is strong demand for all of our brands on the continent and, after years of tight supply, we are seeing great deal signing momentum in Europe both in established and rapidly growing markets."
Since 2009, Starwood has added 25 new hotels to its European portfolio of now 163 hotels in 32 countries. The company will open nine new hotels this year in established as well as fast-growing markets such as Russia, the Commonwealth of Independent States or CIS, and Turkey.
This year, Starwood will add three new Starwood hotels in Turkey, including the debut of the Sheraton brand in Adana. The company will also open its third hotel in Moscow with the opening of the Sheraton Moscow Sheremetyevo Airport Hotel, part of the Skypoint business Park located 800 meters from the country's busiest airport.
External Source : RTT