Starwood Unveils Ambitious New Plans for Europe
The Starwood Hotels & Resorts Worldwide, Inc. brand has grown to over 1,200 properties in nearly 100 countries, and the next five years will feature even more growth as the company looks to add more than 40 new hotels and resorts across Europe.
According to a press release from the company, Starwood Hotels & Resorts Worldwide is looking to expand its portfolio by 30 percent. The business strategy is to invest in both fast-growing and established markets.
Starwood Hotels & Resorts Worldwide president of global development Simon Turner spoke about the company’s success in 2014 and the continued growth moving forward, via a press release:
“2014 was a record year of deal signings for Starwood in Europe with consistent, sustainable high-quality portfolio growth in key European markets and sought-after destinations. Our growth momentum continues this year with 14 hotels on track to open across Europe and strong owner interest in our nine lifestyle brands, backed by our loyalty program, the collective strength of our global platform and our highly-experienced, local teams.”
The company has not wasted any time, and the planned aggressive expansion has already begun. On March 1, the Starwood Hotels & Resorts Worldwide opened The St. Regis Istanbul Hotel & Resort and is scheduled to build four more hotels in Turkey over the next year.
The expansion also includes new hotels in Russia, Germany, The Netherlands, Romania, Italy, Croatia and many other European nations. Add in plenty of success following up on brand conversion opportunities, and the company has an efficient plan in place.
Another reason for the recent expansion is the continued success of the company’s mid-market brands like Aloft, Four Points by Sheraton and Element. With even more growth in the United Kingdom, the future looks very bright for Starwood Hotels & Resorts Worldwide.
If the company can fulfill the ambitious business model presented to the International Hotel Investment Forum in Berlin, the Starwood Hotels & Resorts brand will continue to be one of the leading hotel and leisure companies in the world.
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