Starwood Targets Europe for Growth
Wednesday March 6th, 2013 - 8:23AM H
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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 •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.