Starwood to relocate global HQ to India
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Starwood Hotels & Resorts will relocate its global headquarters from the US to India in March 2015, for a month-long initiative intended to bring the company closer to the Indian market.
Led by president & CEO Frits van Paasschen, Starwood’s top executives will split their time between Mumbai and Delhi, conducting day-to-day business from India and meeting key local partners. The Indian relocation follows previous moves to China in 2011 and Dubai in 2013.
“This is a particularly exciting time for us relocate to India,” said van Paasschen. “Its renewed focus on travel infrastructure is much needed, as travel demand is fueled by economic growth and a population expected to overtake China by 2030.
“We all know of India as a hotbed of technological innovation and global services. Coupled with the rise in entrepreneurship and investment, millions of people are joining its middle class every year. And, of course, this means millions of new travellers. At the same time, India is both unique and immensely diverse. Our extended time there will allow us to immerse ourselves and appreciate new approaches to the business of hospitality,” he added.
Over the course of the relocation, Starwood executives will travel to cities throughout India, including Bengaluru, Chennai, Pune, Hyderabad and Kochi, to meet with associates, customers, owners and prospective developers. They will also take the opportunity to travel throughout South Asia to Nepal, Bhutan, Sri Lanka, Bangladesh and the Maldives.
“With South Asia as our home base, we’ll be within a five-hour flight from nearly 40% of our global pipeline for new hotels,” said van Paasschen. “This includes major cities as well as some of the world’s most remote and untouched destinations.
“As we look at these growth markets, we will explore how we create opportunities for the thousands of people who will enter the global workforce through Starwood. We will also work to find ways for humans to coexist with nature while preserving it.”
Starwood’s presence in India dates back to 1973 with the debut of its Sheraton brand in Mumbai. It currently operates 40 hotels in the country with another 36 under development. Across South Asia, Starwood is on track to reach 100 hotels under operation or development in the region by 2016.
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