- Weather
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Max |
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40°C |
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Min |
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30°C |
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Sunrise |
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05 : 30 AM |
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Sunset |
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06 : 30 PM |
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Humidity |
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50 to 80 per cent |
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- Prayer Time
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Fajar |
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03:56 am |
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Dhuhr |
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12:09 pm |
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Asar |
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03:30 pm |
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Magrib |
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06:51 pm |
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Isha |
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08:11 pm |
- Oil Price
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- Gold Price
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Price in RO
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24ct / gm |
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17.37 |
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22ct / gm |
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17.00 |
- Currency Rates
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Forex Rates vs R01
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US Dollar |
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2.60 |
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Euro |
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2.01 |
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Pound |
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1.72 |
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Indian Rs. |
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144.42 |
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Pak Rs. |
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255.85 |
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Bangla Taka |
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201.35 |
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Frits van Paasschen, President and CEO, Starwood Hotels & Resorts
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Muscat: Starwood Hotels & Resorts Worldwide is strengthening its position as the leading hotel operator across the Middle East and Africa (MEA) region with an existing portfolio of 82 hotels, representing nearly 22,000 guest rooms, the majority of which are operated under Starwood's world-renowned Sheraton and Le Méridien brands.
The company announced that it will increase its MEA portfolio by more than 60 per cent with nearly 50 new hotels set to open over the next five years, adding more than 14,000 guest rooms to the region while creating thousands of local employment opportunities.
With over 20 hotels expected to open by the end of 2015, Starwood is on track to reach a milestone 100 hotels across MEA. Further underscoring the importance of the region as one of Starwood's fastest growing hotel and travel markets, earlier this month the company relocated its global headquarters from Stamford, Connecticut to Dubai for a month-long immersion, said a company release.
"Starwood continues to see demand for growth of all of our brands across the Middle East and Africa despite economic and political uncertainty in some parts of this incredibly diverse region," said Frits van Paasschen, President and chief executive officer, Starwood Hotels & Resorts.
"Rapid economic growth, rising personal incomes, a growing middle class and ever greater global connectivity are driving new travel patterns and demand for travel, and this region is at the centre of these trends and a key focus of our growth strategy," he added.
With more than 70 per cent of the world's economic growth coming from fast-growing markets over the next few years, Starwood is focused on expansion in developing MEA markets such as the United Arab Emirates (UAE), Saudi Arabia, Algeria, Egypt, Senegal, South Africa and Nigeria. The company is also focused on growth opportunities in key emerging markets including Iraq, Pakistan, Angola, Ghana, the Ivory Coast and East Africa.
Luxury portfolio
In 2011, Starwood introduced its ultra-luxury St. Regis Hotels & Resorts brand in the region with the opening of The St. Regis Saadiyat Island in Abu Dhabi. This was followed by last year's debuts of The St. Regis Doha and The St. Regis Mauritius, marking the entry of the brand into Qatar and Africa. This year, Starwood will unveil a second St. Regis hotel on Abu Dhabi's vibrant Corniche, making it the only city in the world to boast two St. Regis hotels. The brand will soon enter the Egyptian market with the opening of The St. Regis Cairo, in Egypt.
Starwood is also seeing rapid growth of its contemporary, design-led W Hotels brand. Following the successful launch of the brand in the region with the opening of W Doha in 2009, Starwood has plans to open six more W Hotels across MEA in key markets, including three in Dubai and one each in Abu Dhabi, Muscat and Amman by 2017.
"Our long-established presence, local teams, and strong relationships in the region remain a competitive advantage, and position us well to take advantage of the many opportunities for future growth," said Simon Turner, President of Global Development & Acquisition, Starwood Hotels & Resorts. "We have a healthy pipeline of new hotels under development in the Middle East and Africa, and expect our growth to continue in 2013 as we look to expand in markets including the UAE, Saudi Arabia and Nigeria," he added.
In addition to new hotel openings, Starwood is seeing increasing opportunities for hotel conversions in Middle East and Africa. In the past ten months, Starwood has signed three conversion deals in the region, including Sheraton Dubai Mall of the Emirates, which opened last month.
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