Starwood relocates headquarters to Dubai
DUBAI – May 10, 2012 – Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today welcomes its top 100 global executives to Dubai, United Arab Emirates for the company’s annual leadership conference. This marks the first time the leadership conference is held in the Middle East, underscoring the importance of the region as one of Starwood’s fastest-growing hotel and travel markets. In another bold move to emphasize Starwood’s approach to cultivating a more global culture, the company announced today that it will relocate its U.S.-based headquarters to the Middle East in 2013 for a month-long managerial endeavor.
Starwood is the leading luxury hotel operator in the Middle East with an existing portfolio of nearly 50 hotels in 11 countries under eight of Starwood’s nine brands. The company is increasing its long-established lead here with another 30 hotels in the pipeline. This growth, primarily in the luxury and upper-upscale segments, represents an increase of more than 50% over the next five years. In the emirate of Dubai, Starwood currently operates 15 hotels, which is the largest concentration of Starwood hotels in any single city outside New York. The company has announced plans to unveil another five new hotels in Dubai by 2017, including the debuts of the W and St. Regis brands in the emirate.
“With hotels in 100 countries and 80% of our future pipeline outside of North America, Starwood is the world’s most global high-end hotel company, perfectly positioned to capitalize on an ever growing global marketplace,” said Starwood President and CEO, Frits van Paasschen. “Dubai is emblematic of how globalization is creating new travel patterns and travel hubs, and serves as a crossroad between the emerging and developed worlds.”
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