Starwood Hotels & Resorts to Open 10 New Hotels in Africa over the Next
Starwood’s CEO and Senior Executives Tour Africa this Week in Pursuit of
Development Opportunities and in Support of Starwood’s UNICEF Fundraising
LAGOS, Nigeria -- November 13, 2012
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) is strengthening its
position as a leading international hotel operator in Africa with an existing
portfolio of 38 hotels, representing more than 10,000 rooms, the majority of
which are operated under Starwood’s world-renowned Sheraton(R) and Le
Méridien® brands. The company announced today that it will increase its
African portfolio by nearly 30% with 10 new hotels set to open over the next
three years, adding more than 4,200 guest rooms to the continent and creating
thousands of local employment opportunities. Emphasizing the importance of the
region as one of the world’s fastest-growing hotel and travel markets, CEO
Frits van Paasschen and members of Starwood’s senior executive team are
visiting Africa this week, travelling to key growth markets including Nigeria,
Angola and Gabon.
“Home to seven of the world’s 10 fastest growing economies, there could not be
a better time to expand our footprint in Africa,” said Frits van Paasschen,
President and CEO, Starwood Hotels & Resorts. “From a vastly improving
infrastructure, major investments from China, rapid economic growth, rising
personal incomes and a growing middle class – we are seeing exciting changes
that are driving the African future and we intend to be a part of it.”
Starwood Strengthens Portfolio in Nigeria
At a press conference in Lagos today, van Paasschen shared Starwood’s plans to
further expand its portfolio in Nigeria, the company’s largest growth market
on the African continent. Starwood presently operates five hotels in Nigeria,
in Abuja, Ibom, Port Harcourt and two hotels in Lagos, under its Sheraton, Le
Méridien and Four Points by Sheraton brands. By 2015, Starwood will open three
additional hotels in Nigeria, one property in Benin City and two in Lagos.
“Nigeria is the most populous country in Africa and boasts the second-largest
economy on the continent, presenting tremendous opportunities for the country
to play a key role in our African expansion. With investor-friendly policies
in place and on-going economic growth, Nigeria epitomizes the economic ascent
of Africa as a development destination,” said Simon Turner, President of
Global Development & Acquisition, Starwood Hotels & Resorts.
Starwood Expands Africa Footprint
With more than 70% of the world’s economic growth coming from fast-growing
markets over the next few years, Starwood is focused on expansion in
developing and established African countries such as Nigeria, Algeria, Egypt
and South Africa. The company is also looking to enter key emerging countries
including Angola, the Ivory Coast and Ghana.
As part of this strategy, Starwood is investing in development, sales and the
expansion of its Starwood Preferred Guest (SPG) program in Africa. By the end
of this year, Starwood will double its dedicated development team focused on
growth in Africa, underscoring the company’s commitment to continued growth in
By 2015, Starwood plans to have nearly 50 hotels in Africa with new hotels
confirmed to open in Nigeria, Egypt, Algeria, Libya, Senegal and Mauritius.
Key highlights include:
*The debut of Starwood’s ultra-luxury St. Regis Hotels & Resorts brand in
the Africa/Indian Ocean region with the opening of The St. Regis Mauritius
Resort & Spa, which opened earlier this month. This will be followed by
the debut of the St. Regis brand in Egypt with The St. Regis Cairo,
scheduled to open in 2014.
*A new hotel under The Luxury Collection brand in Lagos, marking the
introduction of the brand into Nigeria. Starwood currently operates five
hotels in the country with three additional hotels slated to open by 2015,
making Nigeria Starwood’s largest growth market on the African continent.
*Further expansion of the company’s well-established Sheraton portfolio in
Africa with the opening of three new Sheraton hotels in Dakar (Senegal),
Annaba (Algeria) and Tripoli (Libya).
*Three new Four Points by Sheraton including two in Nigeria and one hotel
in Oran, Algeria.
*A new Le Méridien hotel in Cairo. The acquisition of Le Méridien in 2005
significantly expanded Starwood’s presence in Africa.
In addition to the new hotels in the pipeline, Starwood will re-open three of
its African hotels in the next 12 months: The Grand Mauritian, which will
re-open next year after a major renovation; the Sheraton Cairo following a
major renovation as part of Sheraton’s global brand enhancement strategy; and
the Four Points by Sheraton Tripoli, which closed last year due to political
conflict in Libya.
Sheraton’s First-Mover Advantage
With the largest footprint among Starwood’s portfolio and one of the world’s
most recognized hotel brands, Sheraton is often the first international hotel
brand to enter markets paving the way for the introduction of other Starwood
brands. This holds true in Africa where Starwood first opened the Sheraton
Cairo in 1971. Sheraton also led the way for Starwood’s entry into other
important African countries including Nigeria, Uganda and South Africa. While
Starwood is committed to the growth of all of its brands throughout the
African continent, Sheraton continues to play a critical role in its
Starwood Supports UNICEF with Pre-School Education Projects in Africa
As part of the company’s global citizenship initiative, Starwood continues its
on-going guest fundraising efforts for UNICEF through the
Check-Out-for-Children program, which launched in 1995. Last year, the Check
Out for Children program celebrated a remarkable milestone with US$25 million
raised through guest donations for children since the launch of the program.
In 2011, Starwood and UNICEF joined forces to put a focus on education through
UNICEF’s “Schools for Africa” program, supporting quality primary education
for more than eight million vulnerable children across 11 Sub-Saharan African
countries (Angola, Ethiopia, Malawi, Mali, Burkina Faso, Niger, South Africa,
Madagascar, Mozambique, Rwanda and Zimbabwe).
“We believe that every child has the right to go to school. That is why,
together with UNICEF, we have chosen to focus on providing children in need
with access to education. We are convinced that for these children education
is the door that opens opportunities and will enable them to become fully
independent members of society,” Roeland Vos, President of Starwood Hotels &
Resorts for Europe, Africa & Middle East says.
Starwood CEO and Senior Executives Visit Africa
Underscoring the importance of the region as one of Starwood’s fastest-growing
hotel and travel markets, van Paasschen and seven members of Starwood’s senior
executive team are visiting Africa this week. On the trip, Starwood executives
will meet with hotel owners, customers, government officials and investors in
Nigeria, Gabon and Angola with the goal to further understand, appreciate and
ultimately leverage different cultural perspectives and approaches to
business. In Angola, they will visit a UNICEF education project to see
first-hand how the funds raised through Starwood’s Check-Out-For-Children
program are helping UNICEF to provide these children with a brighter future in
Starwood’s African Portfolio
Starwood currently operates 38 hotels in 15 African countries, including:
Algeria, Cameroon, Djibouti, Egypt, Ethiopia, Gabon, Gambia, Libya, Mauritius,
Morocco, Nigeria, Seychelles, South Africa, Tunisia and Uganda.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and
leisure companies in the world with 1,128 properties in nearly 100 countries
and 154,000 employees at its owned and managed properties. Starwood is a fully
integrated owner, operator and franchisor of hotels, resorts and residences
with the following internationally renowned brands: St. Regis®, The Luxury
Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton,
Aloft®, and ElementSM. The Company boasts one of the industry’s leading
loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and
redeem points for room stays, room upgrades and flights, with no blackout
dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier
provider of world-class vacation experiences through villa-style resorts and
privileged access to Starwood brands. For more information, please visit
(Note: This press release contains forward-looking statements within the
meaning of federal securities regulations. Forward-looking statements are not
guarantees of future performance or events and involve risks and uncertainties
and other factors that may cause actual results or events to differ materially
from those anticipated at the time the forward-looking statements are made.
These risks and uncertainties are presented in detail in our filings with the
Securities and Exchange Commission. Although we believe the expectations
reflected in such forward-looking statements are based upon reasonable
assumptions, we can give no assurance that our expectations will be attained
or that results and events will not materially differ. We undertake no
obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.)
Starwood Hotels & Resorts
Ulrike Birner, +32 2 207 5016
Senior Director Communications, Europe, Africa & Middle East
Starwood Hotels & Resorts
Carrie Bloom, 203 964 5755
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