Starwood Hotels & Resorts Worldwide, Inc. (HOT) announced that it will increase its operating hotel footprint in Latin America by 50 percent during the next five years, opening an average of seven new hotels per year in the region.
The company said its CEO Frits van Paasschen and members of the company's senior executive team visited Latin America last week, traveling to key growth markets, including Brazil and Colombia.
Starwood currently has eight hotels in some of the most important cities in Brazil, including Sheraton Rio Hotel & Resort and Sheraton Barra Hotel & Suites in Rio de Janeiro; Sheraton Vitoria Hotel; Sheraton São Paulo WTC, Sheraton Porto Alegre Hotel, Four Points by Sheraton Curitiba, Four Points by Sheraton Macaé and the Sheraton da Bahia Hotel in Salvador, which is celebrating its recent inauguration today. Sheraton Reserva do Paiva Hotel & Convention Center near Recife is scheduled to open in the first quarter of 2014.
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