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Emerging markets propel Westin brand’s global growth

STAMFORD (Connecticut): Emerging markets now account for nearly 70% of Westin development pipeline, according to Starwood Hotels & Resort Worldwide Inc.

The demand is fuelled by accelerating demand in China and India, where rising wealth and rapid urbanisation have generated a fierce appetite for strong global brands, said Simon Turner, president of Starwood Global Development in a press statement recently.

“The opening of The Westin Chongqing marks the Westin brand’s debut in this important economic hub in southwest China and offers travellers an ideal location in the city’s central business district,” said Turner.

Westin Chongqing is located in Chongqing Liberation Square in Chongqing, China.

Starwood expects the Westin portfolio in China to surpass 20 hotels including debuts in several other new markets, such as Zhujiajian in Zhoushan, Qingshui Bay and Haikou in Hainan by year-end. The Westin portfolio in China will see an increase of almost 50% with 11 new hotels.

The Westin will also open The Westin Delhi North Capital Region Noida next year, on track with its aim to increase its portfolio in India by 50%.

The group is expected to open nine new Westin hotels worldwide in 2014 and another 30 by the end of 2016, with almost half of the new hotels in Westin’s fastest-growing region, the Asia Pacific.

“The Westin brand has built a strong foundation and following in established markets over the last decade, and the fact that we have opened our 200thWestin in China is illustrative of the phenomenal demand we are now experiencing in the Asia Pacific, as well as our strong local teams in dynamic markets worldwide,” added Turner.

Starwood is also looking to expand in Indonesia from one to three hotels in the next two years. Westin Ubud Resort & Spa is set to open in Bali later this year and the brand will debut The Westin Jakarta next year.

Westin will also continue to reignite in markets across the Asia Pacific with the brand’s return to Singapore last November after a 12-year absence and is looking to re-enter the Philippines in 2016.

In the Middle East, Westin is expanding rapidly and will triple its portfolio by 2016 with the addition of five new hotels in markets including Saudi Arabia, Jordan and the United Arab Emirates.


This article first appeared in The Edge Financial Daily, on July 11, 2014.

 

 

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