Starwood to Add 100 Hotels in China
BEIJING—Starwood Hotels & Resorts Worldwide Inc. plans to open 100 additional hotels in China, doubling its presence in the country in an effort to win a bigger share in one of the world's fastest-growing travel markets.
Starwood, whose hotel brands include the Westin and St. Regis, aims to roll out the hotels in China's smaller cities. Forty will be its Sheraton brand, Starwood finance chief Vasant Prabhu said Wednesday.
The White Plains, N.Y., hotel company is ramping up its efforts in China as rival companies, such as Marriott International Inc., pile into China, where the tourism industry is booming. China's combined domestic and international tourism revenue is expected to increase 14% annually for the next eight years, creating a 5.5 trillion yuan, or roughly $ 860 billion, tourism market, according to Boston Consulting Group.
Marriott announced plans Tuesday to invest $ 2 billion into opening new hotels globally in the next three years, roughly doubling the number of hotels it has in China. It currently owns 54.
Starwood has in recent years wooed international Chinese travelers by offering more specialized services for them. In its more than 1,000 global hotels, the company offers in-room tea kettles, slippers, Chinese menu items and Chinese translation services.
"China presents itself as a major growth opportunity for Starwood and we look to be cutting edge for these consumers," Mr. Prabhu said.
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