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Starwood Reaches New Milestone in China

Starwood Hotels & Resorts Worldwide, Inc and Chongqing Taizheng Company Limited announced an agreement for Starwood to manage the Sheraton Chongqing Hotel in China. This newly built 330-room Sheraton Chongqing Hotel is scheduled to open in January 2008.
The hotel will be located in the new entertainment and commercial district of Chonging on Nanbin Road, and is an integral part of the “Chongqing Bund” development in the city. The hotel is part of a mixed-use complex that houses the hotel, convention hall, prime office and retail spaces and will be the tallest building in Chongqing when completed. The hotel will feature more than 18,000 square feet of meeting and function space for medium- to large-sized groups. The hotel facilities will include three dining outlets, health club, spa and indoor swimming pool.

“China, with its natural landscape, bustling cities and rich history, is a key destination for business and leisure travelers from around the world,” said Miguel Ko, President, Starwood Asia-Pacific. “Tourist arrivals hit an all time high of 9.5 million in 2004 and tourism revenue increased by 50% over 2003. The signing of Sheraton Chongqing Hotel further consolidates our position as the largest upscale international hotel company in China. Starwood is well-positioned with deluxe properties in major and secondary cities in China to cater to the growing number of international and domestic travelers traveling on business and leisure,” added Ko.

Starwood Hotels & Resorts has expanded its portfolio in China significantly since last year with the opening of Sheraton hotels in Sanya on Hainan Island, Dongguan in Guangdong province, Jiuzhaigou in Sichuan province in 2003 and the brand new Four Points by Sheraton Shenzhen. In the past 12 months, the company also signed eight agreements to manage new hotels in Shenzhen, Ningbo, Xiamen, Beijing, Changsha, Haikou, Hong Kong and Shanghai. With the signing of Sheraton Chongqing Hotel, Starwood now has 30 hotels open or under construction in China under our St. Regis, Westin, Sheraton, W Hotels and Four Points by Sheraton brands.

Chongqing, one of the four municipalities in China, is a key industrial base in China with primary industries including iron and steel production, automobile and motorcycle manufacturing and pharmaceutical production. Chongqing is also well known as the starting point of the Yangtze River Cruise, a great way to explore the wonderful scenery of the Three Gorges. Also known as Southwest China’s capital city, Chongqing is a three-hour flight from the country’s major cities of Shanghai, Beijing and Hong Kong.