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Starwood Hotels and Resorts to Expand European Portfolio by 40 Percent

Starwood Hotels and Resorts to Expand European Portfolio by 40 Percent

Starwood Hotels and Resorts Worldwide Inc. has announced plans to open more than 60 new hotels and resorts across Europe by 2020, increasing its current European hotel portfolio by nearly 40 percent. Starwood will open nine new hotels in Europe in 2014, primarily in fast-growing markets such as Turkey, Russia, and the Commonwealth of Independent States. Further underscoring its long-term development strategy, Starwood announced that it has signed a deal to open Sheraton Istanbul Atasehir Hotel, its seventh Sheraton hotel in Turkey.

Simon Turner, president of global development for Starwood Hotels and Resorts, said: “We are seeing rising demand for development in both established and rapidly growing markets across Europe, fueled by strong interest in our globally recognized and admired brands and the ability to tap into Starwood’s strong distribution network and loyalty program. The surge in infrastructure development in markets such as Turkey and Russia and the success of our mid-market brands across the continent have created favorable conditions for the expansion of all of our brands across Europe over the next several years.”

In 2013, Starwood signed 12 new hotel management and franchise agreements in Europe, maintaining the company’s 2007 deal signing pace. The company opened seven hotels in Europe last year, adding approximately 1,200 rooms in five countries while expanding its footprint across the continent with 80 percent of this growth in developing markets.

Starwood’s mid-market brands—Four Points by Sheraton, Aloft Hotels and Element—continue to enjoy strong growth in Europe with 12 hotels currently under development, which will double the mid-market portfolio by 2016. And Starwood will continue to grow its luxury brands in Europe, with five new hotels under development.

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