In a recent development, Starwood Hotels & Resorts Worldwide Inc announced aggressive expansion in Africa and Indian Ocean, increasing its market penetration across the region.
As per recent statistics, the company has a strong footprint with 34 operating hotels and a pipeline of 20 hotels under development. With expansion of its luxury, upper upscale and mid-market brands, Starwood will grow its portfolio by over 50% in the next five years, with more than 50 hotels operating and nine out of its 10 lifestyle brands opening in the region.
Michael Wale, president for Starwood, Europe, Africa and Middle East said: “Africa is a market with huge potential. With economic growth, a rising middle class and rapid urbanization, the demand for travel and quality lodging will continue to grow and provide significant opportunity to grow our brands.”
As part of its growth plan, the company announced seven new deals including W Sharm El Sheikh and The Residences at W Sharm El Sheikh (Egypt), Sheraton Bamako (Mali), The Westin Abuja and Residences (Nigeria), Four Points by Sheraton Abuja and Residences (Nigeria), Four Points by Sheraton Nairobi Airport (Kenya), Aloft Dakar (Senegal), and Element Oyster Bay Dar es Salaam (Tanzania). With the new signings Starwood will further build its position in Nigeria and Egypt, increase its presence in Senegal and enter new markets, which include Mali, Kenya and Tanzania.
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