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Starwood Continues to Saunter Its Way Into Latin America

Where: Various Locations
April 3, 2013 at 9:46 AM | by | Comments (0)

Rio may be in the spotlight as it adds 16,000 rooms in preparation for the 2016 Olympic Games, but ask Starwood Hotels and they’ll tell you that of Latin America is “under-hoteled,” not just Brazil.

They’ve said it out loud, and they're doing something about it. Citing a "strong commitment to the Latin American market," Starwood has opened 12 properties in the past two years and plans to reach 100 total hotels by the end of 2013. Seven hotels are scheduled to open by the end of this year and another 20 are already in development beyond that.

Currently, Starwood has 71 Latin America hotels with 15,300 rooms in 13 countries.

"There is still a lot of opportunity in destinations like Mexico and Costa Rica, in under-hoteled markets such as Brazil, in top performers like Chile and Peru and in foreign-investment favorites such as Colombia and Panama," said Ricardo Suarez, Starwood's vice president of acquisitions and developments for Latin America.

The Aloft Hotels brand, which debuted two years ago in Bogota and Costa Rica, will open six more locations by 2015 in Panama, Mexico, Paraguay, and Uruguay. Four new W Hotels are slated between 2014 and 2016 in Bogota, Mexico City, Kanai Riviera Maya, and Panama City. In 2016, the luxurious St. Regis will cut the tape on its third hotel in Mexico in the Riviera Maya.

While most of these are a few years away from opening, Starwood is already reaping the benefits: In the past year, the company's stock has risen by 18 percent – a definite credit to upcoming market potential. Occupancy numbers and traveler feedback will have the final say, but for now, it’s hard to argue with the company’s strategy. Looks like it’s time to brush up on the ole’ Spanish -- we’re looking forward to enjoying the fruits of Starwood’s labor next year once snow-bird season sets in.

For a complete listing of Latin America locations, visit Starwood's Latin America website.

[Photo: Starwood Hotels/iamgoose.com ]

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