Investors focus on serviced apartments worldwide – Hybrid class of hiotel industry opens up new market opportunities

Hamburg, Germany – 15 June 2016 – Luxurious and equipped with kitchen & co. – high class serviced apartments such Comfort, residential feel and a little luxury: The success factors of serviced apartments are obvious. Since the (terrific) success of Airbnb with the rental of private apartments, the hybrid hotel class is internationally on the rise. Investors and operators have discovered the fragmented market of boarding properties for themselves. Renowned hotel groups such as Starwood Hotels, Citadines and Adina amplified their portfolio to serviced apartments as tophotelpropjects.com reports.

Luxurious and spacious comfort with fully euqipped kitchens – Serviced apartments of ‘The Doorman’ in Frankfurt/Germany are waht guests want (Photo: The Doorman)

With its Element concept – elegant city apartments – Starwood Hotels & Resorts has 40 global projects in the pipeline. The French Citadines group is building currently 24 new properties. Australian Adina Apartments is currently planning six new boarding houses. Europe’s leading hotel group Accor is developing 14 new apartment buildings with Adagio.

The secret of the serviced apartments are excellent concierge services around the clock, such as the new luxury apartment hotel “The Doorman” in Frankfurt. The basic equipment of the apartments includes fully equipped kitchens with modern cooking appliances and luxury furnishings on a high class level. Extensible services on the network should be: cooperation with gyms and wellness and beauty salons, recommendations of selected restaurants and bars in the neighborhood as well as a directory of professional interpreters. Travel services such as limousine services and car rental are understood.

The marketing for serviced apartments opens new ways. The aspiring Novum Hotel Group from Hamburg has a two-way interface to Airbnb in development. In a short term, the groups own serviced apartments in Germany are bookable via their platform at just three percent commission.

Starwood Hotels & Resorts Strengthens Dubai Portfolio with Debut of Aloft and Element Brands

With 2018 Openings of Aloft and Element, Dubai will be Home to all Nine of Starwood’s Iconic Lifestyle Brands

Dubai, UAE – 04 March 2015 – Starwood Hotels & Resorts Worldwide announced an agreement with wasl hospitality & leisure LLC, a subsidiary of wasl Asset Management Group, to debut the Aloft and Element brands in Dubai. Scheduled to open in 2018, Aloft Dubai Raffa and Element Dubai Raffa will bolster Starwood’s presence in Dubai – the city with the second largest concentration of hotels for the company after New York City. With the debut of both brands in 2018, Dubai will soon be home to all nine of Starwood’s brands.

“We are very excited to introduce the Aloft and Element brands into Dubai, and are delighted to expand Starwood’s successful relationship with wasl hospitality & leisure,” said Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East. “With the Dubai government promoting mid-scale hotel development ahead of the Dubai World Expo 2020, we believe the timing is right to widen the reach of our signature Aloft and Element experiences, which are revolutionizing the hospitality industry by delivering a modern, urban-style experience at an affordable price.”

“Bringing the Aloft and Element brands to Dubai for the first time is the latest initiative in the long and fruitful relationship that wasl has enjoyed with Starwood Hotels & Resorts,” said HE Hesham Abdullah Al Qassim, CEO wasl Asset Management Group. “wasl is committed to supporting the growth of Dubai’s hospitality sector, particularly in the mid-range segment, which has been identified as being an important area of hotel expansion in the run up to Expo 2020. We are delighted to have partnered in the launch of two new exciting concepts for visitors to the city and look forward to playing a continued role in helping to fulfil Dubai’s vision.”

Aloft Dubai Raffa and Element Dubai Raffa will be built simultaneously and operate as a unique complex offering 165 and 96 rooms, respectively, upon opening in early 2018. Located near Dubai Maritime City — the new development at Port Rashid — the hotels will be conveniently located close to Sheikh Zayed Road and the heart of Dubai’s traditional commercial centre.

Designed to shake up the staid and traditional mid-market hotel sector, Aloft hotels are redefining the category by delivering urban-influenced, modern and vibrant design and a social guest experience at an affordable price point. Aloft Raffa will feature the brand’s signature W XYZ Bar, where guests can mix and mingle over lively music, and Re:fuel by Aloft, the grab and go eatery open 24 hours a day. Other amenities include Re:charge the fully equipped fitness centre and a refreshing outdoor Splash pool. All of Aloft Raffa’s facilities will be accessible to guests of Element Raffa.

Element Raffa marks the debut of Starwood’s trailblazing eco-wise brand in the UAE. Inspired by Westin, Element Hotels provide guests with space to live their lives, offering bright, modern design, green-minded sensibilities and a reimagined extended stay experience, perfect for the traveller who is visiting for a few days or a few weeks.

“The addition of these two new hotels is a testament to the confidence owners have in Starwood and our brands,” said Bart Carnahan, Senior Vice President Acquisitions & Development, Starwood Hotels & Resorts, Europe, Africa & Middle East. “The pipeline for our mid-market brands is increasingly robust and we see many opportunities for both new-build hotels and conversions for the brands throughout the Middle East.”

Starwood currently operates nearly 50 hotels and resorts across the Middle East under eight of the company’s nine distinct lifestyle brands including: The Luxury Collection, St. Regis, Sheraton, Westin, W Hotels, Le Méridien, Four Points by Sheraton and Aloft. The company has plans to further expand its portfolio in the region with a pipeline of over 35 hotels due to open by 2017.

Dubai is the company’s second largest market after New York City with 15 operating hotels and six properties in the pipeline, including Aloft Raffa and Element Raffa.

Starwood Hotels & Resorts to Introduce Trailblazing Element Brand in the Netherlands

Element Amsterdam to open in November 2015 offering a stylish, whole living experience

Amsterdam, Netherlands – 01 December 2014 – “Following the success of the recently opened Element Frankfurt Airport Hotel, we are proud to expand our relationship with the Bari Gruppe as we introduce the first Element hotel in Amsterdam,” said Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East. “Now that Element is open in Europe, we’re seeing growing guest and owner interest for the brand across the continent, where there is a strong demand for affordable and innovative hotel brands. Element’s unique design with spacious studio style rooms and additional kitchen facilities provides the perfect whole living experience for longer stay travellers.”

Launched in 2008, Element has reimagined the extended stay hotel experience and is the first major hotel brand to mandate that all properties pursue the US Green Building Council LEED certification (Leadership in Energy and Environmental Design) for high-performance buildings. Recognised as an industry leader in the eco-space, Element’s global portfolio is set to more than double within the next two years and reach 30+ hotels by the end of 2017. In addition to Element Amsterdam, the brand will soon debut in other major travel markets including Element London Tobacco Dock as part of an Aloft and Element dual-hotel development and Element Suzhou Science and Technology Town, marking the brand’s debut in Asia Pacific.

Marco Bari, Managing Director & CEO, Bari Gruppe GmbH & Co. KG added, “We are extremely proud to once again partner with Starwood and introduce our second Element in Europe. We look forward to expanding our successful multi-development collaboration further with this project.”

An adaptive re-use project, Element Amsterdam will be developed by Kroonenberg Groep B.V. who will transform a former office building in the Gelderlandplein shopping centre into the sleek, new hotel. Element Amsterdam’s 160 light-filled studios and one-bedroom suites will be stylish and designed for comfort. Each will feature a fluid design of modular furniture, swivelling flat-screen televisions, large desks with open shelving and custom-designed closets. Bathrooms will be spa-inspired, with an invigorating rain shower and dual-flush toilet. Rooms will also feature fully equipped energy-efficient kitchens and the signature Heavenly® Bed to ensure a good night’s rest.

Furthermore, the hotel will offer guests Motion, a state-of-the-art, 24-hour fitness centre, two meeting rooms with modular furnishings, a flexible layout and state-of-the-art technology that can be customised to meet any business or social needs and a fully equipped business centre. In addition, Element Amsterdam will offer a signature all-day dining restaurant and bar.

Lesley Bamberger, CEO Kroonenberg Groep: “I’m delighted that the Element Amsterdam will form part of the redeveloped Gelderlandplein shopping centre and the adjacent Zuid As. There is no doubt that the new hotel will become a hub for both locals and visitors alike bringing new energy and investment to the local area. Kroonenberg Groep and Multi Vastgoed will oversee the project which will see an existing office building called ‘De Veldert’ completely renovated and transformed into the new hotel.”

Guests at Element Amsterdam will also be able to enjoy complimentary Wi-Fi throughout the hotel, the brand’s signature healthy and complimentary RISE breakfast, RELAX evening receptions, and Restore, a 24/7 grab-and-go gourmet food pantry to buy everything they need to make delicious meals in-room. Additionally, 24-hour laundry facilities with washers and dryers will be available for guests’ convenience along with a range of bicycles to hire.

“The signing of Element Amsterdam underscores Starwood’s commitment to grow our innovative select service brands, Aloft, Element and Four Points by Sheraton, in key European travel hubs,” said Bart Carnahan, Senior Vice President Acquisition & Development, Starwood Hotels & Resorts, Europe, Africa & Middle East. “Bari Gruppe has been a great partner for us on the launch of the first European Element hotel at Frankfurt Airport and they are as committed as we are to innovation and sustainability in the hotel industry. We look forward to working with them as we expand this brand across Europe.”

Starwood currently operates three hotels in The Netherlands, the Sheraton Amsterdam Airport Hotel and Conference Centre and two hotels under The Luxury Collection brand – Hotel Pulitzer, Amsterdam and Hotel Des Indes, The Hague. W Amsterdam will open in Autumn 2015.

Starwood Hotels & Resorts’ Trailblazing Element Brand Makes European Debut Next to Frankfurt International Airport

Element Frankfurt Airport, Starwood’s First Element Outside of North America, Offers Eco-Centric Sensibilities and a Reimagined Extended Stay Experience

Frankfurt, Germany – 9 September 2014 – Starwood Hotels & Resorts Worldwide today announced the debut of its trailblazing Element brand in Europe with the opening of Element Frankfurt Airport. This marks the first Element hotel outside of North America. Offering bright, modern design and green-minded sensibilities, the hotel is located in Gateway Gardens, Frankfurt’s new business district adjacent to Frankfurt International Airport, Europe’s third-busiest air travel hub. Element Frankfurt Airport offers travellers a reimagined interpretation of the extended stay experience and an atmosphere to fuel a life in balance and on the move.

This slideshow requires JavaScript.

“We are delighted to partner with Bari Gruppe as we expand the innovative Element brand beyond North America, bringing to Europe a fresh new option for travellers seeking spacious, long-stay environments that are both affordable and sustainable,” said Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa & Middle East. “The opening of Element Frankfurt Airport could not have come at a better time, with the rising number of savvy and environmentally conscious travellers and the Element brand’s unprecedented global growth momentum. We feel confident Element’s entry into strategic European markets such as Frankfurt today and London in 2017 is just the beginning.”

Marco Bari, Managing Director & CEO, Bari Gruppe GmbH & Co. KG added, “We are proud to partner with Starwood Hotels & Resorts and be the first to bring the most dynamic extended stay brand to Europe.”

Built in the heart of the growing new business district near the global headquarters of Lufthansa, Condor and DB Schenker, the hotel is only a few minutes away from one of the biggest international airports worldwide, Frankfurt International Airport. The hotel features 133 spacious and airy extended stay studios and one-bedroom suites, all with modular furniture, flat-screen televisions, large desks with open shelving and custom-designed closets with ironing board. Every room comes with a fully equipped energy-efficient kitchen, spa-inspired bathrooms including invigorating rain showers and signature Heavenly® Beds to ensure a good night’s rest.

Limónes, the all-day dining restaurant and bar, serves regional Spanish cuisine from 7am until midnight including a healthy breakfast, shared lunches with tapas-style dishes, and à la carte dining meals. The hotel has a 24-hour fitness centre – Motion – plus a flexible meeting space and a business centre. Guests at Element Frankfurt Airport can enjoy complimentary Wi-Fi throughout the hotel, the brand’s signature healthy and complimentary RISE breakfast; Restore, a 24/7 grab-and-go gourmet food pantry to buy everything they need to make delicious meals in-room; RELAX evening receptions. Additionally, 24-hour laundry facilities with washers and dryers are available for guests’ convenience.

“Our stylish Element brand is a great fit for the vibrant city of Frankfurt providing global visitors with an eco-smart, extended stay hotel experience designed as an intimate recharge space for both work and play,” said Brian McGuinness, Senior Vice President of Specialty Select Brands for Starwood. “We’ve built the design concept of this hotel around the requirements of longer stay guests, from spacious studio style rooms to additional kitchen facilities, making it the perfect home away from home close to the buzzing international airport.”

Originally launched in 2008, Element became the first major hotel brand to mandate that all properties pursue the US Green Building Council LEED certification (Leadership in Energy and Environmental Design) for high-performance buildings with energy-efficient appliances used in all properties. Recognised as an industry leader in the eco-space, Element’s global portfolio is set to double within two years from 15 to 30 hotels by the end of 2017. In addition to Element Frankfurt Airport, the brand will debut in other markets including a new Element hotel in Suzhou, China in 2015 and as part of a Aloft and Element dual-hotel development in the historic Tobacco Dock section of East London.

Starwood currently has 25 hotels throughout Germany under six of its nine distinct and compelling brands. Element Frankfurt Airport is Starwood’s fifth hotel in Frankfurt, joining Le Méridien Parkhotel Frankfurt, The Westin Grand Frankfurt, Sheraton Frankfurt Congress Hotel and the Sheraton Frankfurt Airport Hotel & Conference Center.

Real Hospitality Group Adds 12 New Construction Hotels – Expansion fueled by resurgence in new build projects, with 7 new locations opening this year

Ocean City, Maryland, USA – 26 August 2014 – Executives at Real Hospitality Group (RHG) announced today their portfolio of hotels has grown with several new deals in 2014, representing a 25.9% growth in guest room inventory.  Management agreements are now in place for 53 properties and 7,203 guest rooms, expanding the company’s market expertise in the northeast, mid-Atlantic and New York City.

Included in the portfolio growth are key branded hotels with Marriott, Starwood Hotels and Resorts, Hilton and Carlson.  In 2014, seven of the hotels are expected to open prior to the end of the year, expanding the portfolio presence into Syracuse, New York, Newark and Rehoboth Beach, Delaware, as well as 5 additional locations in the Financial District of downtown Manhattan in New York City.

“We have worked with our ownership groups and established solid brand relationships to deliver effective pre-opening services that create positive top line revenue for our hotels out of the box,” comments Ben Seidel, President and CEO.  “Our development efforts stem from a straight forward approach, recognizing that our performance and the management of our ownership’s assets must produce successful results.”

The new locations include:

• Home2 Suites by Hilton – Long Island City, New York: The hotel celebrated its official grand opening this month and offers 115 spacious suites and is the first of this brand to open in Metropolitan New York
• Fairfield Inn & Suites – Rehoboth Beach, DE:  This 94 room Generation 4 design is the first Marriott branded hotel in the Rehoboth Beach area.  Slated to open in November 2014
• Four Points by Sheraton Newark, DE:  Construction is in the final stages for this 120 room hotel’s opening, slated for opening in November, and is close to the Christiana Mall and the University of Delaware.  RHG also took over the owner group’s Country Inn & Suites by Carlson, a 59 unit hotel located at I-95 in the growing Christiana retail area.
• Hyatt Herald Square – New York, NY:  The 122 room hotel will offers a unique design inspired by the fashion and publishing industries in Herald Square, with a rooftop lounge and personalized levels of service for a distinctive difference in comfort and service, opening October 2014.
• Renaissance Manhattan Chelsea:  The 330 room Renaissance Chelsea, at West 25th Street, is targeting a 2017 completion.
• aloft and element in Syracuse, NY:  Construction has begun on the 125 room aloft on the Syracuse waterfront, as part of a revitalization plan for the area.  The hotel is slated to open in 2015.  Additionally, the new 123 room element will begin construction adjacent to the aloft on the site for a late 2016 opening date.
• New York City Expansion in the Financial District:  The 176 room Fairfield Inn & Suites, the 128 room aloft, a division of W Hotels, and the 261 room Four Points by Sheraton are scheduled for openings in the fourth quarter of 2014.  The hotels are located in the heart of downtown Manhattan and are the first in a wave of new hotels slated for construction over the next three years.  RHG will also be managing the new construction of 330 rooms with a Courtyard by Marriott and Residence Inn by Marriott in a new combination high rise tower, targeted an early 2017 opening. 

“These hotels are instrumental in developing a diverse portfolio in markets with tremendous potential.  As such, we are focused on maintaining a positive impact during the pre-opening phases and have continued to grow the company by hiring talent well matched to deliver on our promises to our owner partners,” cites Seidel.  “We have strategically planned for growth to stay well ahead of the future opportunities and are resourced to deliver services to exceed the expectations of the owners, our brand partners and asset managers.”

Starwood Hotels & Resorts Expands Presence in the United Kingdom with the Signing of Dual-Hotel Development in London – Aloft and Element Brands to Debut in Historic Tobacco Dock in 2017

Stamford, Connecticut – 6 June 2014 – Starwood Hotels & Resorts Worldwide announced plans to expand its rapidly growing Aloft and Element brands with the signing of a dual-hotel development in London. Scheduled to open in early 2017, the new-build Aloft and Element hotels will offer an exciting range of accommodation in the heart of the historic Tobacco Dock area of East London. Aloft London Tobacco Dock will be the second Aloft hotel in London and third in the United Kingdom (UK), while Element London Tobacco Dock will mark the debut of Starwood’s eco-wise Element brand in this established market.

Located in Tobacco Dock – an emerging business and residential area in the fast-growing Docklands area of East London—the connected hotels are ideally situated within easy reach of The City, Canary Wharf and London’s popular attractions such as Tower Bridge and The Tower of London. In addition, Tobacco Dock boasts one of the capital’s biggest meeting, arts and event spaces with a Grade I listed warehouse on the banks of the River Thames.

“We look forward to a long-term collaboration with the Fawzia Mubarak Al-Hassawi Group as we expand our portfolio of mid-market hotels in London,” said Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East. “These agreements mark an exciting milestone for Starwood’s growth in the United Kingdom and illustrate the strong demand for stylish, yet affordable accommodation in mature and strategically important markets such as London.”

“We are delighted to be entering into a partnership with Starwood Hotels & Resorts and look forward to opening these two new hotels in London. I believe that the strength of Starwood’s global brands, combined with our fantastic real estate development in Tobacco Dock, will generate significant value and further investment into this up and coming area of London. Furthermore, with Starwood’s vast experience and international coverage, I am confident that this project will be successful both in terms of market awareness as well as bottom line results,” said Mrs Fawzia Mubarak Al-Hassawi, President, Fawzia Mubarak Al-Hassawi Group.

Aloft London Tobacco Dock
The new Aloft London Tobacco Dock will feature 251 urban-influenced rooms, all with signature loft-like ceilings, oversized windows and ultra-comfortable plush platform beds as well as walk-in showers and complimentary Bliss® amenities. The hotel will also feature the brand’s signature W XYZSM bar, an atmospheric public space where guests can mix and mingle, read the paper, work on laptops, play a game of pool or grab a drink with friends. In addition, Aloft offers live, free access to local emerging artists as well as some of the hottest bands with Live at Aloft Hotels programming at the W XYZ® bars.

The Re:chargeSM fitness centre offers an opportunity to re-energise and the unique Re:fuelSM by Aloft introduces a convenient deli option for guests on the go, with an array of food and drinks available 24 hours a day. For meetings and presentations, the hotel will offer four creative meeting spaces equipped with the latest audio-visual hardware.

Element London Tobacco Dock
The opening of Element London Tobacco Dock will mark the debut of the much anticipated eco-wise Element brand in the UK. Launched in 2008, Element made history as the first major hotel brand to mandate that all properties pursue LEED (Leadership in Energy and Environmental Design) for high-performance buildings. More than just a “green” hotel brand, however, Element is designed to provide the balance that business and leisure travellers need to thrive on the road.

In keeping with the tenets of the Element brand, Element London Tobacco Dock’s 77 studios, one-bedroom and two-bedroom suites will be stylish, sustainable and designed for comfort. Each of the light-filled accommodations will feature a fluid design of modular furniture, swivelling flat-screen televisions, large desks with open shelving and custom-designed wardrobe space. Bathrooms will be spa-inspired, with an invigorating rain shower and dual-flush toilet. Rooms will also feature fully equipped kitchens and the signature Heavenly® Bed.

Starwood in the United Kingdom
Starwood Hotels & Resorts currently operate hotels 10 hotels in the UK, eight of which are in London. These are represented across six of Starwood’s nine brands, namely The Lanesborough, a St. Regis Hotel; The Park Tower Knightsbridge and Turnberry Resort in Scotland which operate under The Luxury Collection; W London – Leicester Square; Sheraton Grand Hotel & Spa in Edinburgh; Sheraton Heathrow and Sheraton Skyline at Heathrow Airport; Le Méridien Piccadilly and The Park Lane Hotel in London; and Aloft London Excel.

“The mid-market sector is a key driver of growth for the company and now represents nearly 40% of our global pipeline. These signings further underscore our continued commitment to expand our European portfolio of mid-market brands through franchising and management contracts in primary destinations,” said Bart Carnahan, Senior Vice President Acquisition & Development, Starwood Hotels & Resorts, Europe, Africa & Middle East. “We are excited to expand the presence of our Aloft brand in the UK as well as to introduce Element to the market with its emphasis on clean, sustainable living.”

Starwood Hotels & Resorts to Increase Hotel Footprint by 50 Percent in Latin America in the Next Five Years

The Company’s CEO and Senior Executives Toured Brazil and Colombia in Pursuit of Development Opportunities

Stamford, Connecticut – USA – 16 May 2013 – Starwood Hotels & Resorts Worldwide announced that it will increase its operating hotel footprint in Latin America by 50 percent during the next five years, opening an average of seven new hotels per year in the region. Emphasizing Latin American’s growth potential as one of the world’s fastest growing hotel and travel markets, Starwood’s CEO Frits van Paasschen and members of the company’s senior executive team visited Latin America last week, traveling to key growth markets, including Brazil and Colombia.

“Macro-economic trends continue to reshape the Latin American travel and business landscape, creating strong growth in lodging demand and many opportunities for Starwood to expand in the region,” said Frits van Paasschen, President and CEO, Starwood Hotels & Resorts. “At the same time, Latin America’s middle class grew by 50 percent in the last decade and this increase in wealth means that there are more and more people with the means to travel and an increasing appetite for global, luxury brands like ours.”

As the first international hotel company in Latin America dating back to the opening of the Sheraton Maria Isabel in Mexico City in 1963, Starwood today is the largest high end hotel operator in the region with 72 hotels in 13 countries and a total of 15,600 rooms. Since 2007, the company has grown by 36% in Latin America.

In the last two years the company opened 13 hotels, including its debut in Costa Rica with Westin Playa Conchal, Starwood’s first all-inclusive hotel in the world, the recent opening of Sheraton da Bahia Hotel in Salvador, Brazil, and the opening of new flagships including W Santiago, The Westin Lima Hotel & Convention Center, St. Regis Mexico City and Sheraton Bijao in Panama- the first Sheraton branded all-inclusive hotel in the world. Additional recent openings include The Westin Playa Bonita Resort & Spa Panama, The Westin Panama, The Westin Guadalajara and The Westin Santa Fe in Mexico; Aloft Bogota Airport and Aloft San Jose Hotel; Villarrica Park Lake Hotel, a Luxury Collection Hotel; Le Méridien Mexico City; and Four Points by Sheraton Mexico City, Colonia Roma.

Starwood has a pipeline of 19 hotels with a total of 3,200 new rooms in development. In the remainder of 2013, Starwood expects to open six more hotels with a total of 1,100 rooms, covering four brands across four countries.

“Latin America is emblematic of the growth we are seeing in regions around the world and key to our development plans,” said Simon Turner, President of Global Development & Acquisition, Starwood Hotels & Resorts. “There is strong affinity for all of our brands in the region across the luxury, upper upscale and mid-market segments, and we’re looking to build on this interest with new world-class hotels in the right places, with the right partners.”

“We are optimistic about the future of our company in Latin America because we have various competitive advantages, including a long-established presence for more than 40 years, local know-how and strong relationships driven by our in-market teams,” said Osvaldo Librizzi, co-president of Starwood Hotels and Resorts Americas. “Combined with our world-renowned lifestyle brands, we are well-positioned to grow and maintain our lead in the market.”

Brazil

With more than 80% of the world’s economic growth coming from fast-growing markets over the next few years, Brazil is a key focus for the company. Underscoring the importance of the country, van Paasschen and members of Starwood’s senior executive team met with hotel owners, customers and investors in Rio de Janeiro, Sao Paulo, Recife, and Salvador to evaluate new projects. They also visited the iconic Sheraton Rio Hotel & Resort in Rio de Janeiro, one of Starwood’s most valuable owned-assets in the region. In 2012, the hotel began a multi-million dollar renovation project that is part of Sheraton Hotels & Resorts’ ongoing commitment to enhance its global portfolio and reflects Starwood’s unwavering commitment to Brazil. Renovations are expected to be complete by the second quarter of next year.

“There is significant opportunity for hotel development in Brazil due to its sheer size, natural beauty, and relative under penetration, particularly at the high end. We want to bring our skills and expertise at operating high-quality branded hotels to this dynamic market, and believe rising rates and occupancies, and clear pent up demand for travel, make this a promising time to pursue growth opportunities,” added van Paasschen.

Starwood currently has eight hotels in some of the most important cities in the country, including Sheraton Rio Hotel & Resort and Sheraton Barra Hotel & Suites in Rio de Janeiro; Sheraton Vitoria Hotel; Sheraton São Paulo WTC, Sheraton Porto Alegre Hotel, Four Points by Sheraton Curitiba, Four Points by Sheraton Macaé and the Sheraton da Bahia Hotel in Salvador, which is celebrating its recent inauguration today. Sheraton Reserva do Paiva Hotel & Convention Center near Recife is scheduled to open in the first quarter of 2014.

Colombia

Starwood executives also spent time in Colombia meeting with owners and partners and visiting the site of the future W Bogota, which will mark the brand’s entry into the country. In the past years, Colombia has made important steps in enhancing its economy and hotel infrastructure, becoming an attractive destination for foreign investment and international hotel brands. Starwood has been present in Colombia for almost 20 years, and today, the company has several exciting projects in the pipeline, including Four Points by Sheraton Bogota, Sheraton Cartagena Hotel, and W Bogota- all slated to open in 2014.

“We believe that Colombia is a country ripe with opportunities for growth and we plan to expand our brands in the major cities and secondary markets in the years to come with development partners who have a proven track record of success and are looking for a new and exciting growth vehicle,” van Paasschen concluded.

Starwood currently has four hotels in Colombia, including Sheraton Bogota Hotel, Four Points by Sheraton Medellin, Four Points by Sheraton Cali and Aloft Bogotá Airport.