January 25, 2011
Starwood Hotels & Resorts plans to open between 70 and 80 hotels this year, with more emphasis on mid-scale brands in emerging and mature markets, according to Reuters news agency.
Most of the new hotels will be located abroad, especially in China. But the owner of the St. Regis and Westin brands will also open more than 20 hotels in North America this year, Simon Turner, Starwood president for global development, told Reuters.
Known for stylish, upscale offerings like W, Starwood’s expansion of more affordable brands, like Four Points by Sheraton, Aloft and Element, signals the importance of the global middle class to its business strategy, says Reuters.
“Not everybody is going to have the budget to stay in a St. Regis or a W or even a Sheraton or a Westin,” Turner said.
For more, visit Reuters’ site