Starwood Announces Key Appointments and Organizational Changes
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today several promotions and changes to its leadership team. These changes follow the decision to retire by three admired senior leaders - Matt Avril, President of the Hotel Group; Denise Coll, President of Starwood North America; and Miguel Ko, Chairman and President of Starwood Asia Pacific. The planned retirements will take place over the next several months allowing for a smooth transition to their successors. Reflecting Starwood's long commitment to talent development, all of the new leaders are being promoted from within the Company.
Starwood will realign its structure by combining its North America and Latin America operations together into the Americas. This move recognizes the significant commercial overlap between the two regions and will better position both to take advantage of accelerating travel trends within the Americas. The combination of the two groups also acknowledges Latin America's significant growth opportunity by creating a better support system and infrastructure to maximize this potential. In 2011, Latin America was Starwood's fastest growing region in terms of both net rooms and RevPAR growth. In addition, given that the geographic footprint of SVO falls entirely within the region, Starwood has made the strategic decision to incorporate SVO into the Americas as well.
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