Starwood to increase investment in India

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Starwood Hotels and Resorts Worldwide, who owns prestigious brands like Sheraton, Westin, LeMeridien, W Hotels and the Luxury Collection is planning to launch an additional 100 hotels by the year 2015, in India. The group is famous for signing an average a property a week. Last year, it broke records by signing up 72 deals.

The group currently owns 34 properties, is targeting to achieve 50 properties by 2012 and planning to have 100 hotels, either under development, in operation or contracted by the year 2015.

Hoyt Harper, senior VP- brand management in Sheraton Hotels and Resorts said, ?When I look at India, Sheraton will help us build a base and create opportunities to grow Four Points by Sheraton an Aloft brands. We are getting ready to open in India by 2013.?

When asked how he compares India with China for Starwood, he said, India and China are the fastest growing markets in Asia. The only thing common for both the countries are its population. ?You may say that Starwood has a robust pipeline with 150 hotels in China and why does India only have 50? Being in the kind of business we are in, we see challenges in the cost of land, real estate and lifestyle. That is why it is difficult to compare the pace of growth in India and China?, he added.

Starwood Hotels is a hospitality ownership and management organization. It is one of the world?s largest hotel companies and it owns, operates and franchises and manages hotels, resorts, spas, residences and vacation ownership properties under nine owned brands.

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