Starwood Hotels & Resorts Expands Footprint in Mexico by 30%
Friday July 19th, 2013 - 9:35AM HQO
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STAMFORD, CT—Emphasizing the importance Mexico plays in Starwood’s Americas growth strategy and its prominence in the global travel market, Starwood Hotels & Resorts Worldwide, Inc. has announced plans to expand its hotel portfolio in the country by 30%.
In the upper-upscale hotel segment in Mexico, Starwood has eight new hotels in its development pipeline that will add nearly 1,100 rooms. Mexico is Starwood’s largest market in Latin America with 24 hotels and a total of 4,800 rooms, representing eight of the company’s nine brands including the recently launched Aloft brand, which made its debut in Cancun.
“Mexico has been a central part of our strategy in the Americas for many years, and we are pleased to see an upswing in the country as U.S. tourists return and business travel picks up,” Frits van Paasschen, president and CEO, Starwood Hotels & Resorts, said in a statement. “We are seeing strong demand for new hotel development across all of our brands and have the largest pipeline we have had in the country since before the global economic crisis.”
van Paasschen continued: “Mexico is illustrative of the trends we are seeing around the world as rising wealth and ever greater global connectivity fuel new demand for travel along with new travelers. In fact, in the past three years we have more than doubled our base of active SPG members in Mexico, and they are seeking ever more global and diverse destinations.”
Starwood currently has eight luxury hotels in Mexico, more than in any other Latin American market between its St. Regis, W and The Luxury Collection brands, and the company will expand its luxury portfolio in the country by 50% over the next three years to meet increasing demand.
Hotels under development include:
Tags: • Hospitality • Ownership • Management Companies • Owners/Operators •
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.