Leading global hotel chain Starwood Hotels & Resorts Worldwide, Inc. (HOT) has recently declared that it is on the verge of launching 50 new hotels with 14,000 guest rooms in the rapidly-growing emerging market of Middle East and Africa (MEA) by 2018. Apart from this, Starwood is also undertaking a brand conversion strategy to further strengthen its footprint in the region. Starwood currently owns and operates 82 hotels mostly under the Le Méridien and Sheraton brands across the region. These openings will reflect a 60% additional increase in the company’s existing MEA coverage. The company aims to own more than 100 properties in the region, launching 20 new hotels by 2015. However, to tap the growing potential, many other hoteliers including Marriott International Inc. (MAR) and Wyndham Worldwide Corporation (WYN)
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