Starwood Hotels & Resorts Worldwide, Inc. has announced their moving the company’s global headquarters to Dubai. The day to day business of Starwood is already being conducted there, rather than from Stamford, CT, according to their news. The company says the move is a continuing effort for Starwood creating what they term “cultivating a more global perspective”.
Starwood President & CEO Frits van Paasschen offered this comment via the news:
“With 80 percent of Starwood’s pipeline coming from rapidly growing markets, it is simply not possible to lead a truly global business from a boardroom in Connecticut. Rising wealth and ever greater global connectivity are creating a once-in-a-lifetime growth opportunity for our business – by fueling new demand, changing travel patterns, and entirely new travel markets. Dubaiepitomizes this changing face of travel, and we expect this relocation will deepen our relationships with partners, associates and customers. Just as with our one-month relocation to China in 2011, our time in-market will spark new ideas that will fortify our position as the most global high-end hotel company.”
Announcements from Starwood have come rapid fire recently, the most compelling for Argo Travel News being the company’s announcement last week of their intention to open 50 hotels in Europe in the next 5 years, and increasing their portfolio here by some 30%. And news yesterday morning from Starwood tells of the company’s fairly rapid growth where compared with competitors. Starwood Hotels & Resorts has nearly doubled their global brand footprint in the last five years via the St. Regis, The Luxury Collection, and W Hotels Worldwide.
Paul James, Global Brand Leader, St. Regis, offered this via yesterday’s release:
“Modern luxury has not replaced tradition; they sit at the same table, but in slightly different clothes,” said , The Luxury Collection and W Hotels Worldwide. “Today’s luxury consumer is multi-national and cross-generational, defined more by their interests and mindset than their geography and demographic. This growing cadre, which we call Generation LuXurY, moves across our portfolio of luxury hotels for business and leisure, and demands personalized service at every turn.”
