Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced the beginning of a month-long relocation of its global headquarters from Stamford, CT to Dubai. From now until April 5th, Starwood President & CEO Frits van Paasschen and the company's top executives will conduct day-to-day business from Dubai, an increasingly important global destination and travel hub. Following the company's successful relocation to China in June 2011,
this second leadership move reflects Starwood's innovative management approach to cultivating a more global culture by understanding, appreciating and leveraging different societal perspectives and approaches to business and hospitality.
"With 80 percent of Starwood's pipeline coming from rapidly growing markets, it is simply not possible to lead a truly global business from a boardroom in Connecticut," said van Paasschen. "Rising wealth and ever greater global connectivity are creating a once-in-a-lifetime growth opportunity for our business – by fueling new demand, changing travel patterns, and entirely new travel markets. Dubai epitomizes this changing face of travel, and we expect this relocation will deepen our relationships with partners, associates and customers. Just as with our one-month relocation to China in 2011, our time in-market will spark new ideas that will fortify our position as the most global high-end hotel company."