Starwood Hotels to expand business in India
Starwood Hotels & Resorts, the owner of luxury hospitality brands Westin, Le Meridien, St Regis and W is planning to construct a hotel in Mumbai.
Negotiations are on and the group is planning to conclude at least one deal for a luxury hotel management in central Mumbai and one in south Mumbai within few months.
At present, the group operates 35 hotels in India (with 8, 500 rooms) and has 23 under development, nevertheless the region doesn’t attribute in Starwood’s significant EBITDA (earnings before interest, tax, depreciation and amortisation) contributing markets.
Starwood at this time functions in 100 nations. The Indian subcontinent rates 4th in terms of number of properties, although is not in top ten market segments with respect to EBITDA contribution.
Starwood targets to have at the least 100 hotels under construction, development or management in India by 2015. Under its nine brand St Regis, W, The Luxury Collection, Le Meridien, Sheraton, Aloft, Element, Four Points by Sheraton and Westin Starwood Hotels & Resorts controls over 1,100 hotels in 100 markets, with a total of 325,600 rooms across the world.
Overseas hospitality chains are generally eyeing expansion options throughout India and are aiming to increase their revenue.
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