Starwood plans 350 new openings for its luxury brands in the next 5 years
In an interview to French media, Frits Van Paasschen, CEO of Starwood Hotels confirmed his company’s intention to open 350 new luxury hotels (of which 150 in Asia – Pacific), branded St Regis, W Hotels and Luxury Collection. In Europe, Starwood is currently working on 25 projects in Europe alone. In the past 5 years, the luxury division of Starwood has almost doubled in number of rooms.
Van Paasschen also confirmed second quarter revpar in Europe at 2,5 % growth (6,9% growth at a group level), with good performance in Italy and Spain. Starwood’s portfolio is now made of 160 properties in Europe only.