Starwood Hotels & Resorts Plans 300 Hotel Expansion

by Emily DUNBAR on April 2, 2010

Starwood Hotels & Resorts says that they have plans to open 300 hotels over the next 3-4 years, most of which would open overseas. This announcement comes as the accommodations firm opens their 1,000th location.

On Wednesday, the company announced that they have reached the opening of their 1,000th hotel and resort - the Sheraton Qiandao Lake Resort, which is located on the shores of Qiandao Lake in China. This lake is also commonly known as the Lake of Thousand Islands.

Starwood Hotels & Resorts currently has 54 hotels operating in China, while another 70 are under construction or in development, according to president Matthew Avril. He also says that the company plans to double their footprint in the country from the end of 2009 to the end of 2012.

The chief executive officer Frits van Paasschen said that they are delighted to welcome their 1,000th hotel - a Sheraton that seems predestined in China. This hotel is symbolic of their history and bright future, he continued, and Starwood Hotels & Resorts is now the most global hotel company now, having more hotels outside the US for the first time. China is the most fertile land to grow in, he added, and they plan to double their presence by 2012.

Paasschen also said that they plan to open 300 hotels in the next 3-4 years. Starwood Hotels & Resorts anticipates to open another 80-100 hotels in 2010, and 70% of them will be outside the US, while most will be in the Asia Pacific. They have more than 20 hotels in their pipeline to open in China this year, while they already have plans to open 26 hotels in India and increasing their portfolio 60% by the end of 2012.

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