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Starwood Hotels & Resorts To Strengthen Lead In Mexico And Expand Footprint By 30 Percent

Stocks in this article: HOT

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today plans to expand its hotel portfolio in Mexico by 30 percent, emphasizing the important role the country plays in Starwood’s Americas growth strategy and its prominence in the global travel market. Starwood continues to lengthen its lead as the largest operator in the upper-upscale hotel segment in Mexico with eight new hotels in its development pipeline that will add nearly 1,100 rooms. Mexico is Starwood’s largest market in Latin America with 24 hotels and a total of 4,800 rooms, representing eight of the company’s nine brands including the recently launched Aloft brand, which made its debut in Cancun.

“Mexico has been a central part of our strategy in the Americas for many years, and we are pleased to see an upswing in the country as U.S. tourists return and business travel picks up,” said Frits van Paasschen, President and CEO, Starwood Hotels & Resorts. “We are seeing strong demand for new hotel development across all of our brands and have the largest pipeline we have had in the country since before the global economic crisis.”

van Paasschen continued: “Mexico is illustrative of the trends we are seeing around the world as rising wealth and ever greater global connectivity fuel new demand for travel along with new travelers. In fact, in the past three years we have more than doubled our base of active SPG members in Mexico, and they are seeking ever more global and diverse destinations.”

Leading Luxury Footprint

Starwood currently has eight luxury hotels in Mexico, more than in any other Latin American market between its St. Regis, W and The Luxury Collection brands, and the company will expand its luxury portfolio in the country by 50 percent over the next three years to meet increasing demand. Hotels under development include:

  • W Santa Fe located in the desirable Santa Fe business district with spectacular views of the Popocatepetl and Iztaccihuatl volcanoes.
  • W Retreat Kanai Riviera Maya nestled on the eastern coast of Mexico’s Yucatan Peninsula; the first W resort in the region.
  • The St. Regis Kanai Riviera Maya, which will bring the brand’s bespoke style of luxury to the resort area and represent the brand’s third hotel in Latin America, joining St. Regis Mexico City and St. Regis Punta Mita.
  • Frida Kahlo® Guadalajara, A Luxury Collection hotel in Guadalajara, marking the brand’s entry into this growing city.

Growth Across Portfolio

“Starwood is ideally positioned to take advantage of positive trends given our robust and growing footprint in Mexico where we have been present for more than 40 years,” said Osvaldo Librizzi, Co-President Starwood Hotels & Resorts Americas. “Mexico will continue to be a focal point of our expansion strategy in Latin America where we are on track to have 100 hotels in operation and development by the end of 2013.”

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