From the International Hotel Investment Forum (IHIF) in Berlin, Starwood Hotels & Resorts Worldwide announced today that it will open 25 new hotels in Europe over the next four years. The company has already opened two new flagship hotels in Europe with a W hotel in Paris (pictured) and a Le Meridien hotel in Istanbul.
Globally, Starwood plans to open 80 new hotels in 2012, building on a year of record growth with 112 new hotel deals in 2011, the highest number since before the global economic crisis.
Starwood's growth in Europe is being accelerated by a focus on key fast-growing markets, including Russia, Ukraine and Turkey. The company will double its portfolio in Russia and Ukraine by 2014 with openings in Moscow, Rostov-on-Don, Perm and Kiev. In Turkey, Starwood is expanding its pipeline with four new hotels opening in a three-year period, including the recent debut of Le Meridien Istanbul Etiler, marking the brand's entrance into the country. When the Itsanbul property opens, Starwood will operate 10 hotels in Turkey under five of its brands.
The W brand is particularly busy of late. Following the launch of the W brand in Europe four years ago, Starwood has opened new W hotels in London, Barcelona, St. Petersburg, Istanbul and most recently in Paris with the new W Paris -- Opera. The company will open two additional W Hotels in Europe next year with the new W Milan and the brand's first ski resort, W Verbier Retreat & Spa in Switzerland.
Starwood is also investing in its existing luxury portfolio in Europe, spending more than $100 million to renovate and restore properties like the Grand Hotel in Florence, which re-opened last year as a St. Regis hotel, as well as the Hotel Alfonso XIII in Seville, Hotel Maria Cristina in San Sebastian and Hotel Gritti Palace in Venice.