China is Starwood Hotels and Resorts' second largest hotel market in the world, behind the U.S. This year, the hotel company announced it would open one hotel every two weeks in China. There are currently 70 existing Starwood hotels in China with another 90 in the pipeline.
According to Frits van Paasschen, Starwood's president and CEO, China is illustrative of growth opportunities in other markets throughout Asia Pacific, Africa, the Middle East and Latin America. "Many predict that more than 70 percent of the world's growth over the next decade will come from emerging markets, which is consistent with Starwood's skew towards development in these markets. China recognizes that hotels are an essential component of infrastructure growth, and other fast growing markets are following suit," said van Paasschen in a written statement.
Currently Sheraton Hotels & Resorts, the dominant upper upscale brand in China, has 40 properties in the pipeline. Sister brand Four Points by Sheraton has another 13 poised to open. Westin has 13 properties slated to open, while St. Regis will open three new properties this year. The Luxury Collection debuted its first China property in Tianjin this year and it is the first of five. W Hotels debuted W Hong Kong in 2008 and has another four slated to open. Starwood's Aloft brand has six hotels in the works.
Visit www.starwoodhotels.com.
