News: Starwood signs three new Indian properties

(PTI 11/04/2006) New Delhi - Global hotel and leisure company Starwood Hotels and Resorts, whose brands include Sheraton and Four Points, has said it would jointly develop three more properties at Rs 750 crore with Vatika Hospitality Pvt Ltd and introduce the Westin brand in India.

Vatika Group's subsidiary, Vatika Hospitality would manage two new Westin properties, Westin Resorts, Sohna to be launched in December this year followed by another in Gurgaon by 2007, Executive Director, Vatika Group, Gaurav Bhalla said.

The Starwood group has also signed up another property in Bangalore, which has taken the total number of properties of the group which is already present in India under the brand names Sheraton and Le Meridien, to 21.

Commenting on the venture, President, Starwood Hotels and Resorts, Asia Pacific, Miguel Ko said: "There are definitely tremendous growth opportunities for us in the gateway cities and relatively underdeveloped resort market."

Citing recent research, Ko said India is the fastest growing market in the Asia-Pacific for international tourist spending, which has grown to 25 per cent in the last quarter of 2005. This growth is expected to accelerate significantly over the next few years.

Westin Hotel, Bangalore, would open in 2009 and will have 300 rooms, five dining outlets, 20,000 sq ft of meeting and function space and around 10,000 sq ft for health and spa centre and retail outlets.

Westin Resort, Sohna would be spread across a 35 acre site with 100 rooms, 36 one and two bedroom villas and 12,400 sq ft for health and spa centre.