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Four years after the launch of its upscale five-star Sheraton brand in Bengaluru, Starwood Hotels & Resorts opened its second Sheraton hotel in Hyderabad on Wednesday. Located in Gachibowli, the financial district of Hyderabad, the new hotel has 272 rooms, including 56 serviced apartments.
“The hospitality market in Hyderabad is largely driven by the IT sector with a great inflow of young businessmen from across the globe. We have also provided for the strong IT sector-led demand for long-stays with our serviced apartments and the demand from the MICE segment with our convention spaces.
“Hyderabad is the MICE capital of India with the country’s first purpose built Hyderabad International Convention Centre,” Dilip Puri, Managing Director India and Regional Vice-President – South Asia, Starwood Hotels & Resorts, told BusinessLine .
Puri said that he sees strong growth for the Sheraton brand with a pipeline of six Sheraton hotels which will all be ready in phases by 2018.
“The six hotels in the pipeline are Sheraton Visakhapatnam Seaview Resort, Sheraton Chandigarh Hotel, Sheraton Amritsar Hotel, Sheraton Jalandar Resort and Spa, Sheraton Venezia Greater Noida and Sheraton Bangalore Whitefield. By 2018, we will have eight hotels and 1,500 keys in our Sheraton portfolio,” said Puri.
The Sheraton Bangalore Hotel with 230 keys launched in 2011 has been one of Starwood’s most successful openings in India averaging 72-73 per cent occupancy overall and over 90 per cent during weekdays, commanding a RevPar (revenue per available room) premium over competing hotels in the category. Sheraton competes with Marriott, Hyatt, Hilton and Vivanta by Taj.
Starwood currently operates 44 hotels with 9,576 rooms under management and franchised arrangements.
With another 39 hotels in the pipeline, India will soon overtake Canada to become the third largest market for Starwood globally.
The 10 Starwood brands are Westin, Sheraton, Le Meridien, The Luxury Collection, Aloft, Four Points by Sheraton, St Regis, W, Element and The Tribute Portfolio.
Six of these – Westin, Sheraton, Le Meridien, The Luxury Collection, Aloft and Four Points by Sheraton are already present in India.
“We will soon bring our world renowned luxury brands St Regis and W Hotels to India in Mumbai this September and Goa next April respectively. We will have eight of our 10 brands fly their flags in India by mid-2016,” said Puri.
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