Starwood Hotels & Resorts Worldwide, Inc. (HOT) is on the verge of signing new deals and launching hotels in the rapidly-growing emerging markets of Latin America in order to further enhance its presence in the region. Starwood intends to increase its Latin American portfolio to 100 properties at the end of 2013.
Starwood’s Latin American coverage comprises three brands – luxury brands (W Hotels, St. Regis and The Luxury Collection), upper-upscale segment (Westin, Le Méridien and Sheraton) and mid-market brands (Aloft and Four Points by Sheraton). At present, Starwood owns and operates 71 hotels across 13 countries in the region. Apart from this, 20 hotels are currently under construction. The company expects to unveil seven hotels in Latin America in 2013.