Starwood announces ambitious Africa expansion effort

Hotel News - 19/11/2012

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Hotel conglomerate Starwood Hotels & Resorts has announced a new growth effort for the African continent.

Officials from the hotelier said on Thursday that the firm was to launch 10 new properties in the region over the next three years in a bid to strengthen its presence in the rapidly growing market.

The move will see the addition of some 4,200 guestrooms to the company’s African portfolio, marking an increase of 30 per cent for the continent. An official statement said the effort will bring about “thousands” of opportunities for local employment.

Starwood chief executive Frits van Paasschen said in a statement that now was a better time than ever to invest in Africa, which he said is one of the world’s fastest growing economies. He added that the region is seeing rapid growth of the middle class and has received substantial investments from China.

Reports said that Paasschen and several other senior executives spent last week visiting key markets in Gabon, Nigeria and Angola. Paasschen revealed during the visit that one of the first properties will be launched in Lagos, whilst hotels are to be opened in South Africa, Egypt, Algeria, Ivory Coast and Ghana according to reports.

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