Starwood Hotels & Resorts Worldwide, Inc. announced at the International Hotel Investment Forum (IHIF) in Berlin that it will open 25 new hotels in Europe over the next four years. The company is already off to a strong start this year, opening two new flagship hotels in Europe with a W hotel in Paris and a Le Meridien hotel in Istanbul. Globally, Starwood plans to open 80 new hotels in 2012, building on a year of record growth with 112 new hotel deals in 2011, the highest number since before the global economic crisis.
"Even against a backdrop of uncertainty, Starwood's pipeline of both managed and franchised deals for all nine brands in Europe is healthy and expected to grow in 2012," said Simon Turner, president of global development for Starwood. "Eastern and Central Europe are particularly fertile ground for growth, primarily with new-build properties, while we see numerous ongoing conversion opportunities in established markets throughout Europe."
Starwood's growth in Europe is being heightened by an emphasis on key fast-growing markets, including Russia, Ukraine and Turkey. Starwood will double its portfolio in Russia and Ukraine by 2014 with openings in Moscow, Rostov-on-Don, Perm and Kiev. In Turkey, Starwood is expanding its pipeline aggressively with four new hotels opening in a three-year period, including the recent debut of Le Meridien Istanbul Etiler, marking the brand's entrance into the country. With that, Starwood will operate 10 hotels in Turkey under five of its distinct brands.