Starwood Hotels and Resorts to open 25 new hotels in Europe

Friday 9, March 2012


Starwood Hotels and Resorts to open 25 new hotels in Europe


From the International Hotel Investment Forum in Berlin, Starwood Hotels and Resorts Worldwide has announced that it will open 25 new hotels in Europe over the next four years.


The company isalready off to a strong start this year, opening two new flagship hotelsin Europe with a W hotel in Paris and a Le Méridien hotel in Istanbul.Globally, Starwood plans to open 80 new hotels in 2012, building on ayear of record growth with 112 new hotel deals in 2011, the highestnumber since before the global economic crisis.

Even against a backdrop of uncertainty, Starwoods pipeline of bothmanaged and franchised deals for all nine brands in Europe is healthyand expected to grow in 2012, said Simon Turner, President of GlobalDevelopment for Starwood. Eastern and Central Europe are particularlyfertile ground for growth, primarily with new-build properties, while wesee numerous ongoing conversion opportunities in established marketsthroughout Europe.

Starwoods growth in Europe is being accelerated by a focus on keyfast-growing markets, including Russia, Ukraine and Turkey. Starwoodwill double its portfolio in Russia and Ukraine by 2014 with openings inMoscow, Rostov-on-Don, Perm and Kiev. In Turkey, Starwood is expandingits pipeline aggressively with four new hotels opening in a three-yearperiod, including the recent debut of Le Méridien Istanbul Etiler,marking the brands entrance into the country. With that, Starwood willoperate 10 hotels in Turkey under five of its distinct brands.

Starwood Strengthens Luxury PositionIn just four years,Starwood has grown its global luxury room count by 75 percent. Turningto 2012, more than 60 percent of Starwoods new hotels will be in theluxury and upper-upscale segment.

In Europe, Starwood continues to expand its W Hotels brand into some ofthe worlds most exciting and vibrant destinations. Following the launchof the W brand in Europe just four years ago, Starwood has opened new Whotels in London, Barcelona, St. Petersburg, Istanbul and most recentlyin Paris with the new W Paris  Opéra. The company will open twoadditional W Hotels in Europe next year with the new W Milan and thebrands first ski resort, W Verbier Retreat & Spa in Switzerland.

Starwood is also making significant investments to enhance its existingluxury portfolio in Europe. The company has invested more than $100million USD to renovate and restore some of its most iconic LuxuryCollection hotels, including the Grand Hotel in Florence, whichre-opened last year as a St. Regis hotel, as well as the Hotel AlfonsoXIII in Seville, Hotel Maria Cristina in San Sebastian, Hotel Prince deGalles in Paris and Hotel Gritti Palace in Venice.

The enhancement of the Sheraton brand continues to be a focus with a $6billion USD investment in new hotels and renovations of existingSheraton hotels. In Europe, there is a major renovation of the SheratonEdinburgh underway, the UKs flagship Sheraton Hotel.

Starwood continues to grow aggressively in the established as well asthe fast-growing European economies utilizing both a managed andfranchised operating model. There is a large landscape of independenthotels ripe for flags and we expect to capture more than our fair shareof conversion opportunities across all our nine brands. The recentconversions of the Sheraton Baku in Azerbaijan, the Four Points bySheraton Barcelona and the upcoming re-branding of the SheratonMirasierra Hotel & Spa in Madrid are a testament of this strategy, saidRoeland Vos, Starwood Hotels & Resorts, Europe, Africa & Middle East.

Long Runway to Grow Mid-Market BrandsStarwood continues toexpand its mid-market brands in secondary and tertiary markets aroundthe globe where there is a long runway to grow reliable and affordablehospitality. Accounting for over 25% of the companys global developmentpipeline, Starwood will open its 250th mid-market hotel this year.Starwood sees great momentum for its Four Points by Sheraton and Aloftbrands in Europe with particular demand coming from Germany, Benelux,United Kingdom and Russia.

We see great opportunities to grow our Four Points by Sheraton andAloft brands in more mature markets where there is a strong demand foraffordable yet innovative hotel brands. In the years to come, we plan toexpand these brands throughout Europe with development partners who havea proven track record of success and are looking for a new and excitinggrowth vehicle, said Bart Carnahan, Senior Vice President Acquisition &Development, Starwood Hotels & Resorts, Europe, Africa & Middle East.



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