2011-04-05
Mumbai, India – April 5, 2011 – From the Hotel Investment Conference
– South Asia (HICSA), Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT)
today 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 Méridien 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 Indiaincluding W, The Luxury Collection, Le Méridien, 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 Triples
Starwood’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.
W Hotels to Make Landmark Debut in Mumbai
Since the opening of the first W hotel in New York City in 1998, Starwood has
transformed the design-led, luxury brand from a New York-centric concept to a
worldwide phenomenon with hotels in high-profile cities such as London, Mexico
City, Washington, D.C. and Bangkok. Now Mumbai is set to join that list with
the debut of W Mumbai scheduled to open in 2015.
Under a management contract with Jaguar Buildcon Private Limited, the W Mumbai
will be part of the landmark Namaste Tower, a 55-story, mixed-use
building. Designed by WS Atkins, the Namaste Tower is named for its
iconic design resembling two hands clasped together. Perfectly situated in the
centre of Mumbai’s business, financial, retail, entertainment and high end
residential hub, the hotel will provide the ultimate insider access.
Mid-Market Brands, Aloft and Four Points by Sheraton in Demand Across
India
Driving portfolio growth in India is the proliferation of Starwood’s Aloft and
Four Points by Sheraton brands. Aloft will double its footprint in India this
year with new hotels in Ahmedabad, Coimbatore and Chandigarh. Four Points by
Sheraton benefits from the halo effect of the Sheraton brand and its long
legacy in India, and has grown its footprint with two new hotels this year in
Visakhapatnam and Pune, following the openings of two hotels in 2010.
“India’s tech-savvy, younger generation is creating tremendous demand for our
popular and affordable Aloft and Four Points by Sheraton brands, which are
expanding rapidly in India’s many emerging urban centers,” said Dilip Puri,
Managing Director India and Regional Vice President of South Asia. “Starwood
has long-standing relationships with owners and developers across the country
and the expertise in delivering a range of high-caliber lodging options to meet
the needs of India’s rising middle class.”
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and
leisure companies in the world with 1025 properties in 100 countries and
territories with 145,000 employees at its owned and managed properties.
Starwood Hotels is a fully integrated owner, operator and franchisor of hotels,
resorts and residences with the following internationally renowned brands: St.
Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four
Points® by Sheraton, and the recently launched Aloft®, and Element
SM. Starwood Hotels also owns Starwood Vacation Ownership,
Inc., one of the premier developers and operators of high quality vacation
interval ownership resorts. For more information, please visit www.starwoodhotels.com.
About Starwood Preferred Guest
The SPG program’s breakthrough policy of No Blackout Dates at the world’s most
sought after collection of hotels, reinvented the hospitality loyalty program
when it launched in 1999. By creating a program centered on its members,
SPG has developed the most passionate and knowledgeable membership base in the
hotel loyalty space. Through its use of new technologies and innovative
channels such as SPG.com, SPG.com/stayconnected, SPG.com/flights and others,
SPG continues to innovate and lead the industry. By offering No Blackouts on
standard rooms at over 1,000 hotels and resorts in nearly 100 countries, No
Blackouts on hundreds of airlines, and once in a lifetime experiences available
through SPG Moments at spg.com/moments, the program has proven to be a big draw
for the world’s most frequent travelers, and a significant competitive
advantage for Starwood. For more information about Starwood
Preferred Guest please visit SPG.com.
Media Contact:
Alethea Lam
+65.6335.4837
alethea.lam@starwoodhotels.com
Anjali Mehra
+919920465761
anjali.mehra@starwoodhotels.com
Jennifer Leemann
+1.866.478.2777
Jennifer.leemann@starwoodhotels.com