Through next year, one out of every three new hotels entering the Starwood Hotels & Resorts Worldwide portfolio will be opening in China, including new flagships for eight of its nine brands, the company says.
Starwood has 62 existing hotels in China and a pipeline of 86 more hotels in the country. China is now Starwood's second largest hotel market in the world, behind only the United States.
"China is one of the world's fastest growing domestic and outbound travel markets," says Frits van Paasschen, president and CEO of Starwood. "Demand continues to outpace supply in China, and there is still a long runway for growth, especially when you consider that China has 171 cities with populations of more than 1 million, most of which do not yet have a major international branded hotel. It is not hard to imagine that we will ultimately have as many hotels in China as we do in the United States, which is more than 450."
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