Starwood Hotels & Resorts Worldwide, Inc. plans to open more than 60 new hotels and resorts across Europe by 2020, increasing its current European hotel portfolio by nearly 40%.
Starwood will open nine new hotels in Europe this year, primarily in fast-growing markets such as Turkey, Russia and the Commonwealth of Independent States (CIS). Further underscoring its long-term development strategy, Starwood today announced that it has signed a deal to open Sheraton Istanbul Atasehir Hotel, its seventh Sheraton hotel in Turkey.
Following the opening of three new hotels in Turkey in 2013, Starwood will open an additional four properties in the country, including The St. Regis Istanbul later this year, followed by Four Points by Sheraton Istanbul and two new Sheraton hotels in Samsun and Istanbul.
The newly signed Sheraton Istanbul Atasehir will feature 160 guest rooms with scenic views of the Marmara Sea and the bustling city. Starwood currently operates 10 hotels in Turkey under five of its nine its lifestyle brands. Set to open next year, Sheraton Istanbul Atasehir will reinforce the global growth of the Sheraton brand as it remains on track to open its 500th hotel.
In 2013, Starwood signed 12 new hotel management and franchise agreements in Europe, maintaining the company’s 2007 deal signing pace. The company opened seven hotels in Europe last year, adding approximately 1,200 rooms in five countries while expanding its footprint across the continent with 80% of this growth in developing markets.
In addition to Turkey, Starwood is maintaining strong growth momentum in Russia and the CIS countries where it is poised to triple its portfolio over the next three years, with 12 new hotels. These openings include the debut of Aloft and The Luxury Collection in Ukraine, the company’s entrance into Tajikistan and Kazakhstan, plus seven additional hotels in Russia – in Moscow and St. Petersburg as well as secondary and tertiary cities, including Kaluga, Perm, Krasnodar and Rostov-on-Don.
Starwood’s mid-market brands – Four Points by Sheraton, Aloft Hotels and Element – continue to enjoy strong growth in Europe with 12 hotels currently under development, which will double the mid-market portfolio by 2016. Among future hotel openings are three new mid-market hotels in Germany, including the European debut of the Element brand at Frankfurt Airport. Aloft is seeing marked growth in Europe with plans to enter new markets such as Liverpool, Munich, Stuttgart, St. Petersburg, Kiev and Amsterdam. The company is in advanced discussions on more than a dozen new mid-market hotel deals across the continent and is particularly focused on growing these brands with multi-unit owner partners under franchise hotel contracts in markets such as Germany, Scandinavia and the UK.
Starwood will continue to grow its luxury brands in Europe, where it operates nearly 50 hotels under the St. Regis, W Hotels and Luxury Collection brands. The company has five new luxury hotels under development in Europe, including W Hotels in Amsterdam, Milan and Tel Aviv, The St. Regis Istanbul and the addition of Hotel Bristol, a Luxury Collection Hotel in Odessa (Ukraine). Starwood is in advanced discussions for five additional luxury hotels on the continent.
Together with its owner partners, Starwood continues to make significant investments to restore and enhance several of the company’s iconic European luxury hotels. In the past two years, Starwood and its partners have invested more than 150 million Euros to restore four of Europe’s most iconic hotels under The Luxury Collection brand – The Gritti Palace in Venice, Prince de Galles in Paris, Hotel Alfonso XIII in Seville and Hotel Maria Cristina in San Sebastian. Additionally, The Luxury Collection has unveiled restored public spaces and enhanced guest accommodations at the historic Hotel Bristol in Vienna, Hotel Danieli in Venice and The Park Tower in London while introducing new villas at Hotel Pitrizza and Hotel Romazzino in Sardinia and branded residences at Pine Cliffs in the Algarve.