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Starwood Targets Europe for Growth

Wednesday March 6th, 2013 - 8:23AM

Sheraton Palace Hotel, Moscow

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.