Starwood Plans to Double Portfolio in 2007

Starwood Hotels & Resorts Worldwide, Inc. anticipates executing 200 new deals and opening more than 80 new hotels in 2007, almost doubling the number of properties the company opened last year.

Underscoring the company’s portfolio expansion across all nine of its brands, Starwood currently has a global pipeline of approximately 420 hotels and more than 100,000 rooms.

Starwood has also taken the lead in the upper upscale and luxury segments, with 38 percent of the hotels and rooms in the industry pipeline, according to Smith Travel Report. Demand for Starwood’s brands outside of North America is at its highest levels to date, with almost half of the company’s new hotels located outside of the region.

In Asia, Starwood is experiencing unprecedented growth in India and particularly in China, where the company currently operates 34 hotels and is targeting more than doubling its presence in the region in the next three years.

In Latin America, the company has announced plans for 12 new hotel projects, making it the largest and fastest growing hotel company in the region. In Europe, Africa and the Middle East, Starwood anticipates nearly doubling the number of new hotel projects this year, up from 23 deals in 2006, and targets opening approximately 50 hotels in the region in the next three years.

In North America, Starwood’s pipeline is the most robust in the company’s history, with nearly 200 hotels projected to open over the next three years. Another key focus for Starwood is new brand development, particularly in segments where the company has traditionally had limited penetration.