Starwood Hotels plans to expand presence in Africa

Addis Ababa

STARWOOD Hotels & Resorts Worldwide Inc plans to increase the number of African hotels it operates by 50 per cent over the next five years as positive growth prospects trump short-term security and economic concerns.

The US owner of the Sheraton and Le Meridien brands has signed deals to run its first hotels in Mali, Kenya and Tanzania, while adding to the company's portfolio in Nigeria, Senegal and Egypt, said Neil George, a senior vice-president, in an interview on Wednesday in Addis Ababa, the capital of Ethiopia. The Stamford, Connecticut-based company plans to operate more than 50 hotels on the continent by 2020, up from 34 now.