STARWOOD HOTELS INCREASED portfolio in India to 60% by 2013

15 new hotels will strengthen Starwood's position as the largest U.S. operator of hotels of category upper-upscale and luxury in the country

Mumbai, May 2010 - Hotel chain Starwood Hotels & Resorts Worldwide, Inc. announced plans to increase the portfolio of hotels in India 60% / Now them 26 / 2013. This became known before the President and CEO Frits van Paasshen / Frits van Paasschen / and a group of network managers went on a two-week tour of the country to explore the hotel owners, developers and team members.

"India is a key area for expansion. This is largely due to a lack of hotels in the hospitality market, - says Wang Paasshen. - To understand the situation we can take into account that in India with a population of one billion people in the presence of 100,000 rooms, in the While one New York City - about 80 thousand. "

Starwood Company started its operations in India in 1973 with the debut of a brand Sheraton in Mumbai. Since then, the company increased its portfolio to 26 hotels under the brand Westin, Sheraton, Four Points by Sheraton, The Luxury Collection and Le Meridien and became the largest U.S. operator of hotel categories upper-upscale and luxury.

Today, Starwood network and its partners in the construction stage are 15 hotels in India, including six hotels Aloft, three of which will open later this year. In addition to the opening of these hotels, Starwood continues to assist in the formation of infrastructure and career opportunities. In fact, hotel network, opened in the period from 2007 through 2010, will create more than four thousand jobs.

It should be noted that in terms of future growth rates for the company in the Asia-Pacific region, India is ahead of only China, with the region's largest market for the development of the hotel chain.

"Comparing China and India can be dangerous, and you can still see some similarities - adds Van Paasshen / Frits van Paasschen /. - If you recall, the whole world thought China would" place the future "for 20 years before we saw an economic boom . That's how we think about India. traced all the signs and trends that show that in the next ten years should be just in India, and we are proud to have a presence in the local market for almost 40 years. "

Today, India remains relatively underdeveloped market of travel in terms of the flow of foreign tourists. Each year, the country is visited by approximately five million travelers, while China is coming more than 50 million. Nevertheless, the revival of the Indian middle class has led to a marked increase in demand for domestic tourism, and the flow of outsourcing agreements, including a contract with Starwood, should lead to an increase in international tourism.

"India is one of the most promising markets in the Asia-Pacific region. According to the forecasts of GDP growth will exceed 7% over the next two years, while the consumer market will be the fifth largest in the world by 2025 - said Miguel Ko / Miguel Ko /, Chairman of the Board of Directors and President of Starwood Asia-Pacific region. - This relatively underdeveloped hotel market - fertile ground for our luxurious high-end brands, and we look forward to expanding its presence in this country. "

About

Starwood Hotels & Resorts is one of the leading companies in the field of tourism and recreation from 1000 Hotels in more than 100 countries and staff, numbering 145,000 people. The company Starwood Hotels & Resorts - the owner, the owner and the owner of hotels, resorts and residences of the following brands: St. Regis ®, The Luxury Collection ®, W ®, Westin ®, Le Meridien ®, Sheraton ®, Four Points ® by Sheraton, and the recently discovered Aloft ® and Element SM. Company Starwood also owns Starwood Vacation Ownership, Inc., Which is one of the main developers of service allows a temporary rental apartments premium.