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Starwood Extends Presence in India and South Asia
Starwood Hotels & Resorts has revealed its decision to further extend its development in India and South Asia. This premier operator currently operates 34 hotels worldwide and also aims to open 24 hotels in near future. By 2015, the organization plans to operate, develop and manage 100 hotels. The organization also aims to establish eight out the current nine Starwood brands in India.
Starwood has signed 10 contracts in India, Bangladesh and Sri Lanka in the last year. In 2013, Starwood expects to launch The Westin Chennai Velachery, Aloft Ahmedabad SG Road and Aloft Bengaluru Cessna Business Park, Le Méridien Mahabaleshwar Resort & Spa and Sheraton Chandigarh Hotel.
In a statement, Stephen Ho, president, Starwood Asia Pacific Hotels and Resorts said, “Already our fourth largest market, India is comfortably poised to be second only to China in terms of our future global growth. India today is still an ‘under-hoteled’ market, and the demand for high-caliber lodging is expected to far exceed current supply for at least the next three to four years. 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 in gateway cities, tertiary markets as well as in resort destinations.”
According to Dilip Puri, MD, India and Regional VP, South Asia at Starwood, the organization is pleased with the triumph of the Westin brand in India along with the recently built and administered Sheraton. The organization therefore aims to extend these brands into major markets.
Matthew Fry, senior VP, Acquisitions and Development at Starwood Asia Pacific said, “We have one of the leading luxury footprints in the world with more than 150 luxury hotels under our St. Regis, Luxury Collection and W Hotels brands. More than 90 percent of our luxury pipeline is in emerging markets, reflecting new demand for luxury in new places. With a rising middle class, growing disposable income, an affinity for luxury brands and huge pent up demand for foreign travel, India is emblematic of the growth we are seeing in regions around the world and key to our global growth plans.”
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Edited by Brooke Neuman