New York Stock Exchange-listed Starwood Hotels & Resorts Worldwide, Inc, on Wednesday said it expects to operate 50 hotels in India by the end of 2012 and the country is second only to China in its plans for future growth.
Treating India as the most important market after China in Asia Pacific, Starwood Hotels & Resorts is targeting at doubling its property from the current 19 over the next five years.
Slowing economic growth and an oversupply of new hotels conceived during the boom years of 2006 and 2007 have led to falling room and occupancy rates in India.
While Marriott India Hotels Resorts has entered into a sponsorship agreement with the inaugural season winner Rajasthan Royals, Starwood Hotel & Resorts has chosen Virender Sehwag-led team Delhi Daredevils.
This recognition is a testimony of India's strong belief in promoting entrepreneurship
International hospitality majors such as Four Seasons Hotels and Resorts, Starwood Hotels and Resorts, and Jumeirah International are all planning to establish their presence in the country.
In talks with Starwood and Peninsula Hotels.
The Vatika group's subsidiary, Vatika Hospitality Pvt Ltd, will announce two new Westin hotels in the country -- The Westin Sohna Resort and The Westin Bangalore.
The 10 ITC Hotels branded as Sheraton at present were expected to be re-branded as Luxury Collection soon, sources in the know said.
Marriott now has 30 brands globally with over 5,700 properties in over 110 countries
Marriott-Starwood, Carlson Rezidor and others are winning the tug-of-war for customers with local hotel chains as they add new properties at a breakneck speed.
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