In order to further ramp up its presence in Europe, Starwood Hotels & Resorts Worldwide, Inc. (HOT) is on the verge of launching 50 new hotels in the region by 2018. Moreover, Starwood is also undertaking several renovation initiatives to improve the efficacy of its existing hotels in Europe. As per the expansion plan, Starwood will unveil nine new hotels in Russia, the Commonwealth of Independent States (CIS), Hungary, Greece, Switzerland and Turkey in 2013. The company aims to augment its Russian and the CIS portfolio by four times through launching 11 new hotels by 2017 as the demand continues to increase. However, the European market is not devoid of competition. To tap the growing potential, many other hoteliers including Marriott International Inc. (MAR) and Wyndham Worldwide Corporation (WYN) are
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