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FINANCIAL NEWS
Starwood hits 80% occupancy rate in Dubai in 2010
16 Jan 2011
(MENAFN) Frits van Paasschen, Chief Executive Officer at luxury hotel chain, Starwood, announced that during 2010, it has achieved over 80 percent occupancy on average in Dubai, Arabian Business reported.
According to Van Paasschen, Starwood, which owns some of the flagship names of the global hotel industry; Sheraton, Le Meridien, Westin, Four Points, The Luxury Collection, Aloft, element, and St Regis, is focused on emerging markets that had posted growth through the crisis, adding that the market was not saturated.
The hotel chain currently has about 47 hotels in the Middle East and about 20 in the UAE. Furthermore, Starwood aims to have approximately 50 hotels opened in India by 2015, and Van Paasschen revealed that it has 65 hotels open in China today, and another 85 that are being built.
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