News for the Hospitality Executive
In 1985 Starwood Hotels Opened its First Hotel in China,
Historic Great Wall Beijing Sheraton Hotel, Now Starwood
Operates 43 Hotels with 57 Properties Scheduled to Open
White Plains, 31st July 2008 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) marks a milestone in its aggressive growth in Greater China announcing its 100th hotel there, with the signing of the Sheraton Beijing Dongcheng Hotel. As the first international hotel chain to enter China when the historic Great Wall Beijing Sheraton Hotel opened in 1985, Starwood today is the largest international upscale hotel company in China and continues to grow its footprint there with the expansion of its brands including Sheraton, Westin, Le Meridien, St. Regis, Luxury Collection, aloft, Four Points by Sheraton and W hotels in established and emerging cities as well as resort destinations.
“With strong domestic demand, an increasing affinity for global brands
and international inbound travel on the rise, our opportunity in China
is perhaps unsurpassed anywhere in the world,” said Simon Turner, President,
Global Development for Starwood Hotels & Resorts. “What’s
more, by 2020, China will generate over 100 million outbound trips a year,
more than triple its current output, making it one of the largest origins
of outbound travel in the world. As the Chinese travel abroad, they
look for brands they know, and therefore Starwood’s development in China
today, has significant implications for our hotels worldwide.”
A dominant player in the upper-upscale and luxury hotel market in China, Starwood is poised to grow in other segments as well, and the company will debut its new select service brand, aloft, in China this September with the opening of the aloft Beijing, Haidian. Designed with the DNA of W Hotels, aloft targets younger, style-conscious consumers.
“We expect healthy expansion as we launch aloft throughout China and continue to expand our established upper upscale and luxury brands in various Chinese cities where we are currently under penetrated,” commented Miguel Ko, President of Starwood Hotels & Resorts, Asia Pacific. “Starwood continues to win many new hotel projects in China and this is largely due to the confidence the development community has in our lifestyle brands, noted innovations and consistently strong delivery of results in the region.”
Starwood continues to grow aggressively throughout Asia Pacific, with over 80 hotels under construction. China continues to fuel growth in the region, and more than half of Starwood’s pipeline in Asia Pacific is in Greater China, where the company expects to double its portfolio by 2011. In addition to the 43 hotels Starwood currently operates in China, Starwood has 57 new properties scheduled to open. These include 22 Sheratons, 12 Four Points by Sheratons, eight Westins, five W hotels, four St Regis, three Le Meridien hotels, two aloft hotels and one Luxury Collection hotel.
Globally, Starwood will mark a milestone this year with the opening
of its 900th hotel, and expects to increase its portfolio by 50% over the
next five years, driven by aggressive global expansion across all its brands
and the unprecedented growth of its two new brands, aloft and Element which
launched earlier this year. Starwood’s global pipeline includes 500
hotels and 120,000 rooms. Approximately half of Starwood’s new hotels
are expected to open outside of North America, reflecting the company’s
impressive growth in dynamic international markets.
Sheraton Beijing Dongcheng Hotel (www.sheraton.com/beijingdongcheng ) will feature 470 rooms, approximately 36,000 square feet of meeting space, 3 restaurants and bar, a health club, spa and indoor heated swimming pool. The hotel is part of the final phase of the Global Trade Center (GTC) mixed-use complex development. The complex comprises offices, retail shops, condominium, serviced apartments, and the hotel. Located in Dongcheng District, Sheraton Beijing Dongcheng Hotel is located in the heart of Beijing transportation network near the Third Ring Road, and within close proximity to the 2008 Olympics venue, business and financial districts as well as Tiananmen Square. In addition to Sheraton Beijing Dongcheng Hotel, Starwood currently has 2 hotels under construction in Beijing : aloft Beijing Haidian and Four Points by Sheraton Beijing, Haidian; as well as 4 hotels in operation : Great Wall Sheraton Beijing, The Westin Beijing, Financial Street, The Westin Beijing, Chaoyang and St Regis Beijing.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 900 properties in more than 100 countries and 155,000 employees at its owned and managed properties.
This press release contains forward-looking statements within the meaning of federal securities regulations.
|Also See:||Beijing Yongtai Hotel Management Co., Ltd to Develop an aloft Hotel in Beijing, China / January 2007|