Starwood Hotels' Westin to Open 200th Hotel During 2013
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that its Westin brand expects to open its 200^th hotel in 2013, driven by robust international demand and the phenomenal success of the brand's distinct well-being positioning. Westin will open 11 new hotels this year, the vast majority outside the United States in fast-growing markets including China, India, Singapore and Panama.
“Westin is now experiencing the bulk of its growth in the world's fastest growing economies, where it has emerged as a developer darling right out of the gate,” said Brian Povinelli, Global Brand Leader for Westin Hotels & Resorts. “With a history of industry firsts and a winning approach to well-being, Westin has inspired unwavering guest loyalty and generated tremendous enthusiasm among owners and developers across the globe.”
Westin Continues Strong Growth Trajectory Across Asia Pacific
In line with global growth trends, The Westin brand is experiencing a surge in new hotel openings across Asia Pacific. Seven new Westin hotels will open in Asia Pacific in 2013, increasing the brand's portfolio to nearly 50 hotels in the region by year's end. Fueling the brand's growth in the region is the rapid economic growth in China's second and third-tier cities. New Westin hotel openings in China this year include The Westin Haikou, The Westin Sanya Haitang Bay Resort, The Westin Chongqing Liberation Square and The Westin Qingdao.
Westin will also make its return to Singapore with the opening of The Westin Singapore Marina Bay in late 2013. In India, The Westin brand will add one hotel to its portfolio this year – The Westin Chennai Velachery.
Westin Nearly Doubles Portfolio in Latin America
Demand for new Westin hotels in Latin America is also heating up. In just the past 18 months, Westin has grown its footprint in Latin America by nearly 50% as part of the brand's strategic expansion in the region's fastest growing markets. This year's opening of The Westin Panama will increase the Westin portfolio in Latin America to 11 hotels, spanning five countries including Panama, Mexico, Peru, Costa Rica and Guatemala.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.