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.
"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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