Starwood Hotels & Resorts has invested nearly US$3 billion in its Le Meridien properties since taking over the upper-upscale brand in 2005.
The US company has undertaken a complete brand revamp of Le Meridien since acquiring the former Air France hotel label seven years ago, removing more than 40 hotels and resorts from the original portfolio, and adding more to build the total collection to almost 100 properties in 40 countries.
And in the next 12 months, Le Méridien’s owners will invest another US$1bn, with new properties expected to launch in Chicago, Zhengzhou, Mahabaleshwar, Ho Chi Minh City, Cairo, Qingdao, Dhaka, Tampa and Columbus.
“Over the past seven years, Starwood has made significant investments in developing Le Méridien as a contemporary lifestyle brand with a truly distinct point of view, and with the tremendous support of our ownership groups, we have also transformed the portfolio into its most competitive position to date,” said Brian Povinelli, global brand leader for Le Méridien and Westin. “Le Méridien has soared under Starwood, and we are proud of the robust pipeline and healthy performance levels of our hotels around the world.”
Le Meridien was initially bought to strengthen Starwood’s portfolio in the EMEA region, where more than 80 of its properties were located. Moving forward, the brand’s expansion strategy will focus on Asia Pacific and the Americas.
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