Starwood to expand India portfolio 60% by 2013
07 April 2010
Starwood Hotels & Resorts has stated it is on track to meet its objective to grow its India portfolio 60% by 2013.
The hospitality giant currently has 26 hotels in the country under its Westin, Sheraton, Four Points by Sheraton, The Luxury Collection, and Le Méridien brands.
“India is a key focus of our expansion efforts, in large part, because it is a market that today is relatively under-hoteled,” said Starwood’s president and CEO, Frits van Paasschen, as he embarked on a two-week tour of the country. “As a point of perspective, consider that India with a population of one billion people has just 100,000 hotel rooms, while New York City alone has roughly 80,000 hotel rooms.”
Starwood’s expansion plans in India include the opening of an additional 15 hotels and launch of its Aloft brand in the country. The hotel company plans to open six Aloft hotels in India, of which three this year.
The company will also be looking at its Four Points by Sheraton brand for growth.
“India is one of the most promising markets within Asia Pacific, with GDP estimates topping 7% for the next two years and a consumer market expected to rank as the world’s fifth largest by 2025,” added Miguel Ko, chairman & president of Starwood’s Asia Pacific Division. “This relatively underdeveloped hotel market is fertile ground for our high-caliber lifestyle brands and we look forward to further establishing our presence here.”
The Asia Pacific region is a huge focus for growth for Starwood. The company earlier stated the majority of its openings in 2010 would be located in the Asia Pacific region.
In addition to India, China is also a focus for expansion; Starwood recently selected China for the milestone opening of its 1000th hotel.
