Starwood to triple Indian hotel portfolio
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Starwood Hotel and Resorts Worldwide plans to triple its Indian hotel portfolio.
The hotel group plans to touch 100 properties by 2015-16, a senior executive of the company stated. The company which has 36 operational properties in India right now, will add another 64 properties in the next 2-3 years allowing itself to better tap in the growing opportunities in the upscale hospitality segment.
Starwood aims to close the year with 40 properties in India and add a further 10 hotels next year. “In the next five year we will have most of our brands present in India. Though there is a lack of adequate infrastructure to support hotel development, there is no dearth of demand,” Vasant Prabhu, Vice Chairman and Chief Financial Officer for Starwood Hotels and Resorts Worldwide Inc was quoted as saying by the Business Standard.
In India, Starwood operates brands like Westin, Le Meridien, Four Points, Aloft and Sheraton, while two more brands – W will open its first hotel in Goa in 2014-15 with W Retreat and Spa, Goa followed by Mumbai, Noida and Gurgaon. St.Regis will make its debut in Noida in 2017.