Starwood Hotels Targets High Growth Opportunities In Latin America

Patrick Archer competitiveness, foreign investment, lifestyle, real estate, tourism, uruguay, us companies

Starwood Hotels sees a futuro brillante in Latin America and today used the high-profile platform of the World Economic Forum in Panama to share their bullish outlook for LatAm tourism growth and future investment.

“With sustained GDP growth, a stable influx of foreign direct investment to high-growth markets, and a fast-rising middle class, Latin America continues to be a region filled with growth opportunities for our globally recognized and admired brands,” said Starwood CEO Frits van Paasschen.

Starwood plans to grow its Latin American portfolio by 20 percent with the opening of 17 new hotels between now and 2016. Many of the new hotels will be what Starwood considers “specialty select brands” (SSB) like Aloft and Four Points properties. Starwood’s SSB segment will grow 45% in Latin America in the next two years with new openings in Brazil, Colombia, Ecuador, Mexico, Paraguay and here in Uruguay.

Aloft Montevideo will rise in Punta Carretas across the street from the Sheraton Montevideo.The 10-story, 125-key Aloft Montevideo is scheduled to open in January 2015, according to HostelTur. (Full Story)

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