Starwood reaches China milestone

Starwood Hotels & Resorts is signing an agreement with Shanghai Forrester (Zhabei) Development Ltd. to manage the Four Points by Sheraton Shanghai, Daning. Starwood now has 50 hotels in Greater China, 25 of which are in operation and 25 under construction. Expected to open in 2008, the newly signed Four Points by Sheraton will be the ninth Starwood hotel in Shanghai, and the sixth Four Points by Sheraton in Greater China.

Four Points by Sheraton Shanghai, Daning will consist of 315 rooms, 11,840 square foot of meeting space, three food and beverage outlets, a health club, indoor swimming pool and a business center. The hotel will be part of the integrated “Daning - the Life Hub” which is an exciting, open-air, innovative and integrated urban lifestyle center which will soon debut in central Zhabei, north of Shanghai central business district. The Life Hub concept is the first of its kind in Shanghai, and is being constructed on a 592,000 square foot site with 15 high and low-rise buildings, 11 piazzas and courtyards, a mile long pedestrian promenade , retail center, hotel, grade “A” offices, home offices and residential apartments.

“We are honored to partner with Shanghai Forrester (Zhabei) Development Ltd. to establish this new hotel, which will be an excellent addition to our portfolio in Shanghai and in China,” said Miguel Ko, President for Starwood Hotels & Resorts, Asia Pacific. “Keeping with Four Points by Sheraton’s commitment to providing honest, uncomplicated comfort, this hotel will offer travelers a new kind of style combined with spirited “can do” service at an honest value.”

China’s economy grew by more than 10% in the first quarter of 2006 and inbound travel is expected to grow by 8% in the next five years. It is predicted that China will become the world’s largest inbound tourism nation by 2019. Such strong growth is certainly a good sign for the travel industry, and for international hotel companies like Starwood.
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