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European Expansion

Starwood Hotels & Resorts To Expand European Portfolio By 40%

Starwood_March6

From the International Hotel Investment Forum in Berlin, Starwood Hotels & Resorts Worldwide, Inc. has announced plans to open more than 60 new hotels and resorts across Europe by 2020, increasing its current European hotel portfolio by nearly 40%.

Starwood will open nine new hotels in Europe this year, primarily in fast-growing markets such as Turkey, Russia and the Commonwealth of Independent States (CIS). Further underscoring its long-term development strategy, Starwood has signed a deal to open Sheraton Istanbul Atasehir Hotel, its seventh Sheraton hotel in Turkey.

Simon Turner, president of Global Development for Starwood Hotels & Resorts, commented, “We are seeing rising demand for development in both established and rapidly growing markets across Europe, fuelled by strong interest in our globally recognized and admired brands and the ability to tap into Starwood’s strong distribution network and loyalty program. The surge in infrastructure development in markets such as Turkey and Russia and the success of our mid-market brands across the continent have created favourable conditions for the expansion of all of our brands across Europe over the next several years.”

Following the opening of three new hotels in Turkey last year, Starwood will open an additional four properties in the country, including The St. Regis Istanbul later this year, followed by Four Points by Sheraton Istanbul and two new Sheraton hotels in Samsun and Istanbul.

In addition to Turkey, Starwood is maintaining strong growth momentum in Russia and the CIS countries where it is poised to triple its portfolio over the next three years, with 12 new hotels. These openings include the debut of Aloft and The Luxury Collection in Ukraine, the company’s entrance into Tajikistan and Kazakhstan, plus seven additional hotels in Russia – in Moscow and St. Petersburg as well as secondary and tertiary cities, including Kaluga, Perm, Krasnodar and Rostov-on-Don.

Among other future hotel openings are three new mid-market hotels in Germany, including the European debut of the Element brand at Frankfurt Airport. Aloft is seeing marked growth in Europe with plans to enter new markets such as Liverpool, Munich, Stuttgart, St. Petersburg, Kiev and Amsterdam.

(http://www.starwoodhotels.com)

 

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