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Starwood Hotels & Resorts reinforces its presence in Latin America

The hotel group wants to augment its portfolio by 50% in the region over the next five years, with an average of seven hotel openings per year.

Starwood Hotels & Resorts wants to become a major actor of the Latin American hotel scene, by increasing its portfolio in the region by 50% over the next five years. The hotel group's goal is to open seven hotels on the continent per year on average. Il There, it has a current pipeline of 19 hotels under development, representing 3 200 rooms, and plans to open six hotels (1 100 rooms) between now and the end of 2013.

"Macro-economic trends continue the economic and touristic landscape in Latin America, creating a strong growth in demand for lodging and many opportunities to develop in the region for Starwood. What's more, The Latin American middle class has grown by 50% over the course of the 10 past years, meaning that more and more people have the means to travel today", stated Frits van Paasschen, P-dg of Starwood Hotels & Resorts.

Starwood already has a portfolio of 72 hotels in the region, for 15 600 rooms, spread over 13 Latin American countries. Since 2007, the group has increased its presence in this zone by 36%.

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