In an effort to strengthen its position in the Mid
dle East and North Africa region, Starwood Hotels & Resorts Worldwide Inc has announced a pipeline of 40 new hotels in addition to an existing portfolio of nearly 70 hotels. This growth, primarily in the luxury and upper-upscale segments, represents an increase of nearly 60% over the next five years.
In the past 18 months, Starwood has debuted six new hotels throughout MENA and momentum continues in the region where the company has recently inked deals for 10 additional hotels.
“Despite economic and political uncertainty in parts of the region, Starwood continues to see demand for growth of all of our brands across the Middle East and North Africa,” said Frits van Paasschen, president and CEO, Starwood Hotels & Resorts.
“The MENA region is key to Starwood’s global expansion strategy, representing our second largest growth market after China. When you consider that the region has 35 metropolitan areas with a population of over one million, and many with a wealthy middle class, there’s huge long-term potential for internationally-branded luxury and upper-upscale hotels.”
Starwood continues its rapid growth in 2012 with further expansion in key markets, including Saudi Arabia where the company will debut two hotels later this year: the Sheraton Medina and Four Points by Sheraton Medina. Both hotels combined will add nearly 500 rooms to the Holy City and increase Starwood’s portfolio to 12 hotels in the country.
“MENA continues to evolve as an international business and leisure travel hub. With the number of tourists traveling to the region expected to double from nearly 80 million last year to 195 million by 2030, MENA is one of the most attractive growth markets in the world,” said Roeland Vos, president of Starwood Hotels & Resorts, Europe, Africa & Middle East.
With more than 70% of the world’s economic growth coming from fast-growing markets over the next few years, Starwood is focused on expansion in developing markets such as the UAE, Saudi Arabia and Algeria as well as key emerging markets including Iraq, Tajikistan and Pakistan.
The 10 confirmed hotel projects in the region include four new hotels in Dubai, including three hotels on Sheik Zayed Road under the company’s St. Regis, W Hotels and Westin brands and a second W Hotel in Dubai on The Palm Jumeirah. The launch of the Aloft brand in the emirate of Sharjah; Sheraton hotel in Tajikistan; re-entry of Starwood into Iraq with a new Sheraton hotel in Erbil. And finally, Starwood’s fifth hotel in Algeria with the new Sheraton Annaba Hotel.
