(MENAFN- Khaleej Times) Starwood Hotels and Resorts termed the relocation of its headquarters to Dubai "once-in-a-lifetime growth opportunity" and will help expand the company's all brands across the region.
Marking the conclusion of Starwood's month-long relocation to Dubai, Frits van Paasschen, president and chief executive officer of Starwood Hotels and Resorts Worldwide, on Thursday shared highlights and insights from the company's immersion in the Middle East with journalists in Dubai.
"It's hard to overstate the potential for our business in this region of the world. By bringing our executives here and spending time with our partners and local teams, we are uniquely positioned to take advantage of this once-in-a-lifetime growth opportunity," said van Paasschen. "I have no doubt that our time spent here will drive future hotel contracts in the region, accelerate Starwood's position as the most global high-end hotel company and further define our culture."
The Middle East is an integral part of Starwood's strategy with 45 hotels and over 30 more in the pipeline and will be second region after North America to home all nine of the company's brands. Last month Starwood announced that it will increase its Middle East and Africa portfolio by more than 60 per cent with nearly 50 new hotels set to open over the next five years, adding more than 14,000 guest rooms to the region and creating thousands of local employment opportunities.
With 82 operating hotels and over 20 hotels expected to open by the end of 2015, Starwood is on track to reach a milestone with 100 hotels across the MEA. Starwood plans to have 100 hotels in its Middle East portfolio by 2015], according Starwood's senior vice-president and regional director Middle East Guido De Wilde.
"With 80 per cent of Starwood's pipeline coming from rapidly growing markets, it's important for us to remain at the forefront of new travel demands and changing travel patterns," said Simon Turner, president of global development at Starwood Hotels and Resorts.
"The Middle East is experiencing rapid economic growth, a growing middle class and ever greater global connectivity, and the Dubai relocation will help us expand all of our brands across this important region," Turner said.
The hospitality chain also announced a comprehensive renovation strategy for its Le Méridien brand, for which Starwood and its ownership groups will invest more than $200 million in the renovations of 13 hotels and resorts in the MEA region over the next three years. Throughout the month of March, van Paasschen and members of Starwood's senior leadership team met with 3,000 associates, conducted nearly 50 owner meetings and visited all 14 Starwood hotels in Dubai.
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