Starwood Hotels & Resorts

Starwood Hotels & Resorts (NYSE:HOT) says it will grow its operating hotel footprint in Latin America by 50% over the next five years, expanding its presence in Brazil and opening its first W hotel in Colombia.The Stamford, Conn.-based operator of the St. Regis, W, Westin, Sheraton and Aloft hotel brands has opened 13 hotels in the region over the last two years, including the company's first all-inclusive hotel in Costa Rica.Other regions of focus have been Salvador, Brazil, Chile, Mexico and Panama, making Starwood the largest high-end hotel operator in the region with 72 hotels in 13 countries, a presence that has grown 36% since 2007.Starwood, which called the region the "world's fastest growing hotel and travel market," decided to expand its presence there after CEO Frits van Paasschen and his executive team visited Latin America last week."Macro-economic trends continue to reshape the Latin American travel and business landscape, creating strong growth in lodging demand and many ...

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