The World’s Most Global Hotel Company Pursues Aggressive Growth Plans in Europe and Invests More Than $200 Million to Enhance Existing Luxury Portfolio
Starwood Announces Addition of the Celebrated King George Hotel in Athens to its Luxury Collection Portfolio Later this Year
BERLIN -- From the International Hotel Investment Forum (IHIF) in Berlin, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to open 50 new hotels in Europe over the next five years, increasing its European hotel portfolio by 30%.
This year, Starwood will open nine new hotels across the continent, primarily in fast-growing markets, a key focus of Starwood’s long-term development strategy in Europe. At the same time, Starwood and its partners are making significant investments to restore and enhance some of the company’s most iconic European hotels.
“Europe continues to be home to many of the world’s most sought-after destinations and to attract travellers from markets around the globe,” said Simon Turner, President of Global Development for Starwood. “There is strong demand for all of our brands on the continent and, after years of tight supply, we are seeing great deal signing momentum in Europe both in established and rapidly growing markets.”