Starwood Hotels & Resorts Worldwide is celebrating an important milestone – the company currently has 103 hotels open and in operation with another 100 signed hotels deals in the world for Greater China, which is not Starwood’s second largest market outside of the U.S.
As Starwood holds celebrations at the Sheraton Shanghai Hongkou Hotel following the Starwood Asia Pacific Investor Day, the group announced its historic milestone with 103 hotels open and in operation.
Vasant Prabhu, Vice Chairman and Chief Financial Officer of Starwood Hotels & Resorts Worldwide, Inc., said, “Our celebration of more than 100 hotels in operation and 100 hotels in the pipeline marks another significant milestone for Starwood’s growth and development in China as we double our footprint in the region. Our success in China reflects our first mover advantage, the strength of our brands and the entrusted partnerships we have fostered with our developers, partners and guests since our first landmark debut with The Great Wall Sheraton Hotel in Beijing in 1985.”
Thus far in 2012, Starwood has open 11 hotels in China and they expect to open 13 more before the end of the year.
Simon Turner, President, Global Development, Starwood Hotels & Resorts Worldwide, Inc., said, “China continues to present tremendous growth opportunities for Starwood as we drive to introduce our valued, world class brands into new markets that do not yet have a major international brand.”
Stephen Ho, President, Asia Pacific, Starwood Hotels & Resorts Worldwide, Inc., noted that as demand for luxury in China continues to grow, there is a change in luxury consumption and “luxury is not longer a one-size-fits-all proposition.”
Starwood currently has nine luxury hotels operating under their St. Regis, Luxury Collection and W brands in Greater China and 18 more are planned for the near future. The company currently employs over 38,000 associates in Greater China and expects to increase that number by 10,000 jobs per year based the fact that they are opening an average of 23 new hotels per year.
Source: Elite Traveler