Starwood Opens First of Fifteen New Hotels in India
The Westin Pune Koregaon Park is the 25th Westin Hotel in Asia Pacific and the First of Six Westin Hotels to Open by 2012
SINGAPORE--(BUSINESS WIRE)--Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announces the opening of The Westin Pune Koregaon Park - the first of six new Westin Hotels to open in India over the next three years and the brand's 25th Hotel in Asia Pacific. The hotel is illustrative of Starwood's overall growth in India with 24 existing hotels and plans to grow its footprint by 60 percent by 2012.
"As home to the world's fastest growing population, India represents a significant opportunity for Starwood and our development partners," said Frits van Paasschen, President and CEO for Starwood Hotels & Resorts Worldwide, Inc.
India makes up 21 percent of the world's incremental growth, and by 2016, its population is expected to be larger than that of Europe, Russia, Australia, New Zealand, Japan, Canada and the United States combined.
"Coinciding with its population boom is the rise of India's middle class, which is driving domestic tourism growth. In this decade, disposable income in India has grown about 10 percent annually, and much of that is being spent on travel," added van Paasschen. "By working to further establish relationships with travelers in this critical, high-growth market today, we are ensuring the success of Starwood tomorrow."
In 2009, Starwood made meaningful gains in India with the debut of the Four Points by Sheraton brand in Mumbai and Jaipur. And looking ahead to 2010, Starwood will launch its Aloft brand in India, opening the first three of its six hotels in the pipeline.
"India's dynamic and resilient economy makes it a highly attractive choice for further hotel development," said Miguel Ko, Chairman and President of Starwood Asia Pacific. "India has a strong GDP growth rate, an established role as global hub for the outsourcing industry and the infrastructure to support travel to and within the country. And with our plans to grow our footprint by 60 percent in the next three years, Starwood is well positioned to meet the pent-up demand for our lifestyle brands throughout India."
While India is a growth powerhouse in and of itself, when combined with China, the implications for Starwood are even farther reaching.
"The potential numbers of new international travelers from India and China are staggering," said Simon Turner, President of Global Development for Starwood. "When you take a look at India and China, you have 40 percent of the world's population, and between them, they are averaging 8 percent growth in GDP. Furthermore, by 2015, 400 million Chinese and Indians will have sufficient incomes to travel abroad - as a point of perspective that is seven times the number of international travelers who visited the United States last year."
Westin Brand Fueling Growth in India
The opening of The Westin Pune Koregaon Park is the second Westin in India and follows The Westin Sohna Gurgaon Resort and Spa that opened in December 2007.
"These six new brand enhancing hotels will provide guests with the signature Westin experience they have come to expect at our 163 existing Hotels around the world," said Don Elliot, Regional Vice President for Starwood's India, Bangladesh and the Maldives region. "We look forward to continuing to grow throughout India and beyond to help ensure that Westin hotels are everywhere our guests want to be."
The Westin Pune Koregaon Park
The Westin Pune Koregaon Park will offer 277 guest rooms and suites as well as the Westin Executive Club where guests have access to an open-air terrace. There are seven meeting rooms and one ballroom with 11,302 square feet of meeting and function space with state-of-the-art facilities. The hotel features three restaurants including Seasonal Tastes, the all-day dining restaurant, and two specialty restaurant offering Italian and Indian cuisine. The hotel also features a WestinWORKOUT® fitness centre, an outdoor pool and the Heavenly Spa by Westin™.
The Westin Mumbai Garden City
The 269 room Westin Mumbai Garden City is located on the Western Express Highway, minutes from the Mumbai International Airport and the Film City. Overlooking the Goregaon Reserve, it provides a renewed perspective for business as well as leisure. The hotel features Westin's signature Heavenly Spa®, WestinWORKOUT® fitness centre and an outdoor pool. It has many distinctive culinary experiences, including an all-day- dining, Seasonal Tastes, a lounge bar, a poolside bar and restaurant, an Indian specialty restaurant and an Italian restaurant. With more than 9,688 square feet of refined meeting and function space and nine meeting rooms, the hotel provides for flexibility and choice with state-of-the-art facilities.
The Westin Hyderabad Mindspace
The Westin Hyderabad Mindspace is located in Raheja Mindspace IT Park, which is the new central business district also known as "Cyberabad" or "Silicon Valley" of India. The hotel features 428 guest rooms and suites, with three restaurants - "Taste" offering all-day-dining and the other two specialty restaurants offering Indian and Italian cuisines. There is also a deli featuring Daily Treats and an on-site lounge and bar. Along with WestinWORKOUT® fitness centre, outdoor pool and Heavenly Spa by Westin™, there is also a 14,000 square feet of refined space for energized meetings, conferences, weddings or gala social events.
The Westin New Delhi, Gurgaon
The Westin New Delhi, Gurgaon Hotel will feature 311 rooms, five restaurants, 17,500 square feet of meeting space, a 16,000 square foot health and spa centre, as well as upscale retail outlets. Located strategically in Gurgaon, the emerging central business district of New Delhi, the hotel will provide travellers easy access to key convention and commercial offices.
The Westin Jaipur Infotech City
The Westin Jaipur Infotech City is located in the capital of Rajasthan - one of India's most beautiful and popular destinations. The hotel is part of the 320 hectare Vatika Infotech City development, featuring a retail mall, residential area, I.T. park and recreation centre. The hotel features 292 inviting guest rooms or villa suites, a full service business centre, wireless internet in all meeting rooms and public areas, nine flexible function rooms and more than 19,000 square feet of meetings space.
The Westin Kolkata Rajarhat
The Westin Kolkata Rajarhat is located in the capital of West Bengal, less than a kilometer from the proposed International Convention Centre. The 314-room hotel will feature three signature restaurants, an all-day-dining venue, and lounge bar and sports bar. The hotel will also feature over 6,500 square feet of meeting space and WestinWORKOUT® fitness centre.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 982 properties in more than 100 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts.
Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Further results, performance and achievements may be affected by general economic conditions, including the duration and severity of any global or regional economic downturns, the availability of financing alternatives at acceptable terms, the impact of war and terrorist activity, business and financing conditions, foreign exchange fluctuations, cyclicality of the real estate (including residential) and the hotel and vacation ownership businesses, operating risks associated with the hotel, vacation ownership and residential businesses. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Further, there can be no assurance that agreements will be entered into for the hotels in the Company's pipeline and, if entered into, the timing of any agreement and the opening of the related hotel. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.