Starwood Hotels and Resorts is likely to extend its Tribute portfolio to India in the near future. The group is already opening its W brand property, W Retreat & Spa Goa, on September 1, 2016. In context to expanding its presence in India, Starwood has identified Indian cities such as Ahmedabad, Aurangabad, Bhopal, Vijayawada and Sonmarg as bright markets.
Speaking to Food & Hospitality World, Nichlas Maratos, vice president – sales, Asia Pacific, Starwood Hotels and Resorts, said, “India possesses huge potential for us. With increasing disposable income, Indians are now more open to exploring new experiences, which compliments our growth in the India market. Our W brand is entering Goa’s resort segment this year. We are also planning to bring our Tribute brand to India in the future.”
“In terms of entering new Indian cities, a lot is dependent on our partners. However, the India market is gaining momentum. Ahmedabad, Aurangabad, Vijayawada, etc carry good potential for our properties.
The entire Asia Pacific region is emerging as a market. In the last one and a half years, the China market saw a slow period, but it is now picking up. India has showed growth in GDP which also encourages the hotel industry’s growth,” added Maratos.
Globally, India is currently the fourth largest market for Starwood’s business, which is expected to replace Canada tobecome the third largest market in a few years. Starwood recently completed 10 years of its Starwood India Expo.