Starwood unveils Africa expansion plansAfrica is set for a new batch of luxury hotels after Starwood Hotels & Resorts World announced plans to open 50 new hotels in the continent and the Middle East over the next five years.
The US-based company, which is classed as one of the world's leading hotel and leisure companies, said it was responding to demand for luxury accommodation.
"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," Starwood said.
Starwood, which owns 160 hotels in 39 countries as part of The Luxury Collection, St. Regis and W brands, has 1,134 properties in nearly 100 countries and 171,000 employees at its owned and managed properties.
It is targeting growth in Africa and said it was focusing much of its growth on catering to global luxury travellers.
"With more than 70 percent 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, Saudi Arabia, Algeria, Egypt, Senegal, South Africa and Nigeria," the company said, adding that it was also focused on growth opportunities in key emerging markets including Iraq, Pakistan, Angola, Ghana, the Ivory Coast and East Africa.
Earlier this month the hotel giant relocated its global headquarters from Stamford, Connecticut to Dubai for a month-long immersion in a move that Starwood hopes will further emphasise the importance of the region as one of the company's fastest growing hotel and travel markets.
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