LE MÉRIDIEN BOASTS IMPRESSIVE PORTFOLIO

With a robust pipeline of new hotels planned over the next 12 months, Le Méridien owners have announced they will invest another US$1 billion in an effort to solidify its world-class portfolio of more than 100 hotels from Barcelona to Bali, Istanbul to Atlanta, and Mexico City to Shanghai. Since being acquired in 2005 by Starwood Hotels & Resorts, both the company and its hotel ownership groups have repositioned Le Méridien brand as a leader in the upper-upscale category. Over the past seven years, Le Méridien has undergone a full brand transformation, including a comprehensive portfolio review as well as the redevelopment of its brand strategy, marketing approach and hotel service standards. Le Méridien has also removed more than 40 hotels and resorts from the original portfolio purchased by Starwood, while another 25 hotels have undergone renovations to make up the best portfolio in the brand’s history. According to officials, Le Méridien brand continues to provide Starwood with opportunities for new deal signings and conversions in both emerging and established markets as a result of its unique lifestyle positioning focused on bringing the destination to life through cuisine, the arts and local culture. Le Méridien has had more new hotel deals signed in the past year than in the previous four years combined. Earlier this year, Le Méridien announced a significant growth pipeline of 10 new hotels and resorts expected to open by early 2014, including properties in Cairo, Chicago, Yixing (China), Zhengzhou (China), and Mahabaleshwar (India). Additionally, as the Middle East and Africa region continues to evolve as an international business and leisure travel hub, Le Méridien brand this past March announced an investment totalling more than $200 million for the renovations of 12 hotels in the region. (http://www.lemeridien.com)