02 Mar 2015
Starwood announces 40 European hotels as Hotel Investment Forum kicks off in Berlin
BY Jak Phillips
The International Hotel Investment Forum (IHIF) got off to a bang today (2 March), with Starwood announcing that it is on course to open more than 40 new hotels and resorts across Europe in the next five years.
The hotel giant – which recently saw CEO, president and director Frits van Paasschen resign “by mutual agreement” – will concentrate on a combination of fast-growing and established markets as part of its expansion, with five new Starwood hotels set for Turkey alone this year across its various brands. Adam Aron, a director of the company since 2006, has taken over the CEO role on an interim basis and has indicated – in words and now in actions – that he has “no intention of merely being a caretaker.”
On the European pipeline, Simon Turner, Starwood president of Global Development said: “2014 was a record year of deal signings for Starwood in Europe with consistent, sustainable high-quality portfolio growth in key European markets and sought-after destinations.”
“Our growth momentum continues this year with 14 hotels on track to open across Europe and strong owner interest in our nine lifestyle brands.”
The International Hotel Investment Forum (IHIF) kicks off in Berlin today and is expected to attract more than 1,900 hospitality and tourism professionals from over 70 countries during the three-day event. The forum focuses on delivering opportunities to anyone operating in the hotel and tourism sector, including investors, developers, operators, architects and designers.
There will be more than 180 speakers at this year’s event, including industry leaders such as:
• Sébastien Bazin, chair and CEO of Accor
• Sue Harmsworth, CEO of ESPA International
• Stephen P. Joyce, president and CEO of Choice Hotels International
• Coley Brenan, principal of KSL Capital Partners (to read an interview with KSL partner Rich Weissmann, from the Q1 2015 edition of CLADmag, click here.
In addition, the IHIF 2015 Lifetime Achievement Award will be presented to Barry Sternlicht, chair and CEO of Starwood Capital Group. Sternlicht joins an elite group of hoteliers to have received the honour, which was last year bestowed on hotel pioneer Ian Schrager.
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