From the American Lodging Investment Summit (ALIS) in San Diego, Starwood Hotels & Resorts Worldwide, Inc. has announced that it expects to open another 70-80 high quality new-build and conversion hotels in 2011, coming off of the 72 opened and 96 new deals signed in 2010. Propelled by unprecedented demand for hotels in the world’s fastest growing markets, Starwood, the world’s most global hotel company, will open nearly 70% of its new hotels outside North America, with the majority in Asia Pacific.Asia Pacific is Starwood’s Leading Growth Market
Robust demand in Asia Pacific remains a key driver of Starwood’s growth, accounting for more than half of all Starwood hotel openings in 2011. Starwood will open 40 new hotels in Asia Pacific this year, resulting in a portfolio of over 220 hotels in the region by year end.
Over half of the new Starwood hotels opening in Asia Pacific are slated for Greater China, where Starwood expects to increase its current portfolio from 70 to over 115 hotels by 2012. Openings will include 19 Sheraton hotels, ten Westin hotels, and two St. Regis hotels.
Demand continues to accelerate in India where Starwood is the largest five-star hotel operator. Starwood plans to grow its existing portfolio of 30 hotels in India by 40% in the next two years. Starwood’s stylish, new Aloft brand will more than double its footprint in India by year end with the opening of three more hotels, and four additional hotels will open under the Sheraton, Four Points by Sheraton and Le Méridien brands.
Growth for Starwood’s high-caliber brands is also picking up in Thailand, where it will add four Starwood hotels to its portfolio this year, including two Four Points by Sheraton hotels, an Aloft hotel and The St. Regis Bangkok. Starwood is also growing its footprint in Malaysia, with two Four Points by Sheraton hotels scheduled to open in 2011.
Starwood Accelerates Growth in Latin America
Starwood will open five new hotels in Latin America this year, joining the 62 currently open in 12 countries. Key openings include the first Westin in South America in Lima, Peru, the fifth Starwood hotel in Panama, which is emerging as a key financial hub in Latin America and Starwood’s first all-inclusive resort, The Westin Playa Conchal Resort & Spa in Costa Rica. Starwood will also debut its Aloft brand in Latin America with the opening of Aloft Panama, in addition to increasing its presence in Chile, Mexico and Colombia.
Select Service Brands and Conversions Drive Growth in North America and Europe
Half of Starwood’s current portfolio is in North America, where it will open more than 20 additional hotels this year. Fueling growth is an influx of conversion opportunities and strong demand for Starwood’s select service brands. This year, milestones will include the opening of the 60th Starwood hotel in Canada and the 50th Aloft hotel.
Starwood will increase its substantial portfolio of 247 hotels in Europe, Africa and the Middle East with almost a dozen new hotels opening in this division in 2011. Key openings in Europe include the first Aloft in London and three W hotels, including the long awaited debut of W in London and Paris.
Strengthening its position as one of the leading luxury hotel operators in the Middle East, Starwood will debut its ultra-luxury St. Regis brand this year with the opening of the St. Regis Doha and the St. Regis Saadiyat Island Resort in Abu Dhabi. Starwood’s total portfolio in the Middle East will grow to 50 hotels in 2011, with another 25 in the development pipeline.
SOURCE: Starwood Hotels & Resorts Worldwide, Inc.