BackIndia to become third largest market for Starwood by 2015
India to become third largest market for Starwood by 2015
PremiumNew Delhi: Global hospitality major Starwood Hotels & Resorts Worldwide on Sunday said it expects India to become its third biggest market by 2015 as the company expands in the country faster than planned.
The hospitality chain that had earlier set a target of 100 operational hotels in India by 2015 is also preparing to add another full services luxury brand ‘St. Regis´ from its international portfolio to its existing seven brands within this year.
“We are expecting to cross our target of having 100 hotels operational in India (by 2015). It is difficult to say by how much we will exceed that number, but we are confident seeing the current pace of growth here," Starwood India managing director Dilip Puri told PTI.
He said for Starwood India is currently at No 4 position after the US, China and Canada.
“By 2015, India will be number three market for Starwood globally after the US and China, both in terms of number of properties and revenue generation," Puri said without disclosing the sales numbers.
With over 100 hotels expected to be operational by 2015, India will overtake Canada, he added. The company operates in India through management contracts and franchise agreements.
Starwood operates 37 hotel properties in India under brands -- W, Le Meridien, Westin, Sheraton, Four Points, The Luxury Collection and Aloft.
“At the moment we are holding talks with several developers for St. Regis and by the end of this year an announcement is expected," Puri said, adding that Delhi and Mumbai would be preferred destinations.
Starwood had earlier announced that it aims to operate 50 hotels in India by the end of 2012 and 100 hotels by 2015.
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