Anticipating an increase in the number of international visitors and the growing needs of the domestic consumer, Starwood Hotels & Resorts Worldwide is scaling up its India plan. The company, which has nine brands, including Le Meridien and Sheraton, will in the next 3-5 years introduce its entire portfolio in India.
The company is looking at introducing two new super luxury brands — St. Regis and W. It is also accelerating the growth plan for its recently introduced brands such as Aloft, Four Points, and Westin. At present, Starwood Hotels & Resorts, which has 1,000 properties across the globe, has 29 properties in India while 16 more are currently under-development.
“In the next five years, we expect the revenue coming out of India to go up four times. We expect to have 100 properties by then. Needless to say, India, together with China, is a very important market for us,” said Phil McAveety, executive vice president and chief brand officer, Starwood Hotels and Resorts Worldwide.
By 2013, the company expects its existing portfolio of 29 hotels to grow 60 per cent. Tier II and III cities are the focus areas.