Starwood Announces Plans to Add 50 New Hotels in Europe, Africa and the Middle East by 2012 and Debuts Sheraton Brand in Slovak Republic
From the International Hotel Investment Forum (IHIF) in Berlin, Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announces plans to open 50 new hotels in its Europe, Africa and Middle East (EAME) division by 2012. And with the recent opening of the Sheraton Bratislava Hotel - along with 13 additional hotels slated to open this year - the division is firmly on track to reach this goal.
"With more than 240 hotels in 55 countries in EAME, we currently have a large enough footprint to enjoy the benefits of being an established and leading hotel operator in the most highly sought-after markets," said Simon Turner, President of Global Development. "That being said, there are still numerous markets in this vast division where we have an opportunity to launch our nine distinct and compelling brands - as evidenced by the debut of the Sheraton brand in the Slovak Republic."
Sheraton Fuels Growth in EAME with USD$1 Billion in New Hotels
Located in the new multifunctional city quarter EUROVEA on the Danube embankment, the Sheraton Bratislava Hotel features 209 guest rooms including 23 suites. This new hotel is indicative of Sheraton's role as a major driver of Starwood's growth in EAME, with additional flagship hotels scheduled to open in destinations such as Georgia (Sheraton Batumi, Spring 2010), Greece (Sheraton Rhodes, Spring 2010) and Italy (Sheraton Milan Malpensa, Summer 2010).
"We are proud to be launching our largest and most iconic hotel brand, Sheraton, in fast-growing destinations such as the Slovak Republic and we are well positioned to continue this curve of meaningful growth throughout 2010 and beyond," said Roeland Vos, President, Starwood Hotels & Resorts, EAME. "By working with our development partners to make landmark entries into new destinations we will be well positioned to own the upswing as we see signs of recovery."
Sheraton's history in EAME dates back to the early 1960s where it quickly established itself as the premier hotel brand for business and leisure travel. To maintain the brand's leading position, many flagship Sheraton hotels are presently undergoing an enhancement programme to revitalise their facilities and be in tune with the brand's updated identity. This includes an investment of USD$275 million in renovations of existing Sheraton hotels in the region in the next three years, such as a multi-million dollar refurbishment of the Sheraton Oman (to re-open in autumn 2010), which supplements a staggering USD$1 billion worth of new pipeline Sheraton hotels throughout Europe, Africa and the Middle East.
Among the brand-wide enhancements is the introduction of the innovative 'Link@SheratonSM
