Starwood, Oberoi arm in realty deal
Starwood will operate and manage its five-star brand, Westin Hotels & Resorts, with real estate offered by Oberoi in Goregaon, Mumbai.
By TNN |
MUMBAI: Kingston Properties, the flagship company of leading construction and real estate firm Oberoi Constructions, has sealed a management contract with US-based Starwood Hotels & Resorts Worldwide. Accordingly, Starwood will operate and manage its five-star brand, Westin Hotels & Resorts, with real estate offered by Oberoi in Goregaon, Mumbai.
Starwood has nine hotel brands under its fold, of which it runs four brands — Sheraton, The Luxury Collection, Le Meridien and Westin. Incidentally, Starwood is talking to the Reliance group to launch its upmarket St Regis brand, which would make it the fifth Starwood brand to be launched in India. This is part of Starwood’s strategy to aggressively grow its footprint in India, one of the fastest-growing Asia Pacific markets for international spending, sources said.
Currently, Kingston Properties is developing a 32-storey mixed use commercial tower, Commerz, in Mumbai, and the Westin Hotel would be part of that, company officials said. The project would be operational in 2009. “Starwood Hotels has many brands in their portfolio and in Westin, we found a perfect fit. With the Mumbai western suburbs being transformed into a major commercial hub, we foresee a big demand for five-star hospitality services,” said Oberoi Constructions chairman Vikas Oberoi.
Being one of the first five-star hotels in this area, it is expected to cater to the 80 acres of the integrated township of the Oberoi Garden City, which comprises commercial, residential and retail developments in addition to an international school.
“India is the fastest-growing Asia Pacific market for international tourist spending and we see growth opportunities here,” said Starwood Hotels & Resorts, Asia Pacific president Miguel Ko.
Starwood has nine hotel brands under its fold, of which it runs four brands — Sheraton, The Luxury Collection, Le Meridien and Westin. Incidentally, Starwood is talking to the Reliance group to launch its upmarket St Regis brand, which would make it the fifth Starwood brand to be launched in India. This is part of Starwood’s strategy to aggressively grow its footprint in India, one of the fastest-growing Asia Pacific markets for international spending, sources said.
Currently, Kingston Properties is developing a 32-storey mixed use commercial tower, Commerz, in Mumbai, and the Westin Hotel would be part of that, company officials said. The project would be operational in 2009. “Starwood Hotels has many brands in their portfolio and in Westin, we found a perfect fit. With the Mumbai western suburbs being transformed into a major commercial hub, we foresee a big demand for five-star hospitality services,” said Oberoi Constructions chairman Vikas Oberoi.
Being one of the first five-star hotels in this area, it is expected to cater to the 80 acres of the integrated township of the Oberoi Garden City, which comprises commercial, residential and retail developments in addition to an international school.
“India is the fastest-growing Asia Pacific market for international tourist spending and we see growth opportunities here,” said Starwood Hotels & Resorts, Asia Pacific president Miguel Ko.
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