Starwood targets aggressive Africa expansion
Starwood announces aggressive expansion in Africa and the Indian Ocean to increase its market penetration across the region.
The company currently has 34 operating hotels and a pipeline of 20 hotels under development. With the expansion of its luxury, upper upscale and mid-market brands, Starwood plans to grow its portfolio by over 50 percent in the next five years, with more than 50 hotels operating and nine out of its 10 compelling lifestyle brands flying their flag in the region.
?The momentum of growth we are seeing in Africa today is unprecedented. It is a reiteration of the trust our owners have in us, the power of our distinct lifestyle brands and the strength of our global distribution and award-winning loyalty programme,? said Michael Wale, president for Starwood, Europe, Africa and Middle East.
?Africa is a market with huge potential. With economic growth, a rising middle class and rapid urbanization, the demand for travel and quality lodging will continue to grow and provide us with a significant opportunity to grow our brands and play our part in supporting many emerging markets across the continent.?
The company has announced seven new deals in the region:
W Sharm El Sheikh and The Residences at W Sharm El Sheikh?(Egypt)
The Westin Abuja and Residences?(Nigeria)
Four Points by Sheraton Abuja and Residences (Nigeria)
Four Points by Sheraton Nairobi?Airport (Kenya)
Element Oyster Bay Dar es Salaam?(Tanzania)