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From the Hotel Investment Conference – South Asia (HICSA), Starwood Hotels & Resorts Worldwide, Inc. announced it will lengthen its lead with more four and five star hotels in India than any other hotel company with the opening of seven additional hotels in 2011 resulting in a total portfolio of 37 hotels in India by year’s end. Key openings in 2011 include Le Meridien Coimbatore and Sheraton Bangalore Hotel at Brigade Gateway, adjacent to the World Trade Center.
Starwood also announced the signing of the first W in India – W Mumbai. With the introduction of W Hotels, seven of Starwood’s nine brands will fly their flags in India including W, The Luxury Collection, Le Meridien, Westin, Sheraton, Four Points by Sheraton and Aloft.
“Already our fourth largest market, India is second only to China in terms of our future global growth,” said Frits van Paasschen, President and Chief Executive Officer of Starwood Hotels & Resorts. “Given India’s growing wealth, infrastructure demands and accelerating stature as a global business hub, our opportunity here is vast. India today is still an ‘under-hoteled’ market and the demand for high-caliber lodging is expected to far exceed current supply for the next three to four years.”
Starwood to Open 50th Hotel in 2012
Starwood’s legacy in India dates back to 1973 when its Sheraton brand debuted in Mumbai. The company has since grown its portfolio to 30 hotels. Looking ahead, Starwood is on track to operate 50 hotels in India by the end of 2012, doubling its presence in the region in just two years. By 2015, Starwood expects to have 100 hotels open or in development.
“Indian consumers continue to enjoy double digit growth in per capita income and have a higher propensity to spend on travel and recreation,” said Vasant Prabhu, Vice Chairman and Chief Financial Officer for Starwood. “As domestic travel increases and Indian travelers continue to demand more sophistication in terms of both quality and experience, we have significant opportunity to grow our brands across the spectrum – whether that’s debuting our ultra luxury St. Regis brand or expanding our mid market footprint in underserved markets with Aloft and Four Points by Sheraton.”
India Key Growth Market for SPG – Membership TriplesStarwood’s distinct and compelling brands are creating new loyal guests in India. Membership in Starwood Preferred Guest, the company’s award-winning loyalty program has tripled in India over the past three years. Today, SPG members represent 40% of hotel guests at Starwood’s hotels in India.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
