With India already its fourth largest market, Starwood Hotels & Resorts Worldwide, that runs brands like Westin and Le Meridien, is on a growth trajectory with plans to bring in all its nine brands into the country. Currently, it has seven brands already in the country, with the recent addition being of the W-brand of hotels. Frits van Paasschen, president and chief executive officer, Starwood Hotels & Resorts Worldwide, talks about group?s plan to strengthen its footprint in the country in the next two to three years and meet its target of having 100 hotels here by 2015, in an interview with FE?s Shweta Bhanot.
From 25 hotels around a year back, Starwood today has 31 operational hotels in the country. What is in place for India in the year ahead?
We are on a growth trajectory in the county and looking at developing our footprint here in the next three years. We believe there is great opportunity in this market and will continue to add new properties and feel 100 hotels till 2015 is not unrealistic. We are talking about attaining 50 by 2012 and strengthening our presence here in not just the number of hotels but developing an organisation which includes additional call centres, sales office expansion and overall operational infrastructure. ?
Which brands do you feel have more potential in the market?
We today have seven out of our nine brands in the country. In absolute number of new hotels, Sheraton is our largest brand globally and has future growth potential. We see the same in India. There are more rooms when you go to the mid-scale like brands like Aloft and Element, the brand we are looking at getting to India. However, it is the luxury segment that will see absolute percentage growth and therefore, we have got out W brand and are working on getting the St Regis to India. We have also announced our plans for W brand and the first W hotel will be opening in 2015 in Mumbai.
By when can we expect St Regis to mark its entry into India and are you already in talks with a local partner?
We would be making an announcement when we reach an agreement. We are constantly in talks with investment funds and local developers for brands.Majority of our hotels worldwide are managed and we want to follow the same here.
Starwood has a relationship with ITC for The Luxury Collection. Do we see any changes in it or you expanding it?
ITC is our unique partner for The Luxury Collection brand for a very long time. We are in constant discussion with ITC and looking for partners with whom we can work over a period of time.