Starwood Hotels & Resorts has announced it is on track to open more than 40 new hotels and resorts across Europe in the next five years, expanding its portfolio by almost 30% with openings in both fast-growing and established markets.
Further underlining its long-term growth strategy, the company is set to open five new hotels in Turkey this year, including The St. Regis Istanbul, which opened at the beginning of this month.
The company's president of global development, Simon Turner, said: “2014 was a record year of deal signings for Starwood in Europe with consistent, sustainable high-quality portfolio growth in key European markets and sought-after destinations.
“Our growth momentum continues this year with 14 hotels on track to open across Europe and strong owner interest in our nine lifestyle brands, backed by our loyalty programme, the collective strength of our global platform and our highly-experienced, local teams.”
Hotel opening highlights for this year include five new hotels in Turkey, two new properties in Russia, the launch of the Aloft brand in Germany's Stuttgart and Munich this summer, the introduction of the W and Element brands to The Netherlands by year-end and three further additions to the Sheraton brand portfolio in Romania, Lake Como in Italy and Croatia's Dubrovnik.