Starwood keeps growing

After a record-breaking year in 2007, Starwood Hotels and Resorts plans to keep the momentum going upwards in 2008 as the plan to open their 900th hotel this year. The next five years will be working under the goal to increase the portfolio of the company by 50%, which includes plans for 500 new hotels, over half of which are outside North America. 2008 alone will see 80 to 100 hotels spring up under the Starwood moniker or one of its subsidiaries.

President of Global development group Raymond Gellein says, “Starwood continues to win more than our fair share of new hotel projects globally and when we open our 900th hotel that will certainly highlight the company’s terrific growth trajectory.

Our lifestyle brands and noted innovations have struck a chord with the development community as they believe this leads to increased loyalty as well as robust returns. In 2008 we expect healthy expansion as our newest brands in the select service category continue to gain traction and our established upper upscale and luxury brands expand in markets where we are currently underpenetrated.”

www.starwoodhotels.com