Starwood will add more than 90 hotels to its existing 70-property portfolio in China, the company’s second largest market. In fact, Starwood has eight of its nine brands represented in the country and will open one hotel every two weeks in China this year.
According to president and CEO Frits van Paasschen, Starwood’s growth in China is illustrative of growth opportunities in other markets throughout Asia Pacific, Africa, the Middle East, and Latin America. “Many predict that more than 70 percent of the world’s growth over the next decade will come from emerging markets, which is consistent with Starwood’s skew towards development in these markets. China recognizes that hotels are an essential component of infrastructure growth, and other fast growing markets are following suit.”
