Starwood Targets Europe for Growth
Wednesday March 6th, 2013 - 8:23AM
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MOSCOW–Starwood Hotels & Resorts Worldwide plans to open 50 new hotels in Europe during the next five years, increasing its European portfolio by 30%.
This year, Starwood is on track to open nine new hotels across the continent, primarily in fast-growing markets. Since 2009, Starwood has added 25 new hotels to its European portfolio. That portfolio currently consists of 163 hotels in 32 countries.
A special focus will be expansion in Russia, the Commonwealth of Independent States (CIS) and Turkey.The already-open Sheraton Palace Hotel in Moscow (pictured) helped establish the Sheraton name in that market.
Tags: Hospitality Ownership
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.