Starwood to invest Rs 750 crore in India

New Delhi, Apr 12 (UNI) Global hotel and leisure company Starwood Hotels and Resorts Worldwide Inc today announced setting up their chain of Westin Hotels and Resorts in India at an investment of Rs 750 crore.

Starwood Hotels and Resorts Worldwide Inc, owners of St Regis, Sheraton, Westin and Le Meridien brands, have tied up with Vatika Hospitality Pvt Ltd, a subsidary company of Vatika Group.

As part of the agreement, they will introduce their chain of Westin Hotels and Resorts in India with the launch of The Westin Bangalore and The Westin Sohna Resort.

''It is a matter of pride for us to introduce the Westin brand to India. We will be developing three Westin properties in India with a collective outlay of Rs 750 crore. We will be introducing the first Westin brand in India with the Westin Resort in Sohna, scheduled to be launched in December 2006, followed by the Westin Gurgaon in 2007,'' Vatika Group, Executive Director Gaurav Bhalla said.

Starwood Hotels and Resorts, President (Asia Pacific) Miguel Ko said, ''Recent research shows that India is the fastest growing Asia Pacific market for international tourist spending. Tourist spending in India grew by 25 per cent alone in the last quarter of 2005, and this growth is expected to accelerate significantly over the next few years.'' The Westin Bangalore, scheduled to open in 2009, while the Sohna Resort is scheduled to open at the end of December 2006.

Westin Hotels and Resorts is a chain of 121 hotels and resorts spread over 31 countries and owned by Starwood Hotels and Resorts Worldwide Inc.

UNI MP SR MP PM1635