Leading hoteliers are looking to expand in the high growth emerging markets. Recently, Starwood Hotels & Resorts Worldwide Inc. HOT announced the opening of Aloft Taipei Zhongshan, marking the brand’s debut in Taiwan.
Aloft Taipei Zhongshan is close to the Taipei Songshan Airport (TSA) and the adjoining Metro Station, Zhongshan Elementary School Station. The hotel is also in close proximity to the popular tourist attractions, as well as a variety of theaters, craft stores and night markets. The strategic location will make it popular among both business and leisure travelers.
The 88-room hotel is located in the city’s busy business district in the northeast region, which houses a number of international firms. This is the 10th Aloft Hotel in Greater China and has a signature bar and a restaurant.
The city of Taipei – one of Taiwan’s most fashionable and tech-savvy cities – has become a tourist’s haven. With both domestic and international arrivals gradually increasing, Aloft Taipei Zhongshan would be able to cater to the rising demand for lifestyle hotels.
Aloft is one of the fastest growing brands of Starwood with 100 properties across 15 countries. The brand caters to modern travelers who seek a unique experience. Its affordable price point in the mid-market hotel category is another reason for its increasing popularity. Most importantly, the brand is gaining popularity internationally, thanks to its modern designs and innovative technologies. Notably, the new hotels will feature Starwood’s recently announced SPG Keyless entry system that allows guests to use their smartphone as the key.
With its strong presence, Starwood has become one of the most sought after global brands. The company is now assessing its opportunities in various untapped but highly populated emerging cities. The thriving economy in these regions and the proliferation of small and medium-size businesses are boosting business travel. Moreover, the growing affluence and sophistication of city dwellers is fueling an uptick in spending on travel and other leisure activities.
Starwood expects 2016 to be strong in terms of openings and new deals supported by the rise in global travel demand and increasing wealth among consumers. This Zacks Rank #3 (Hold) company will continue to concentrate on fast-growing areas where demand is substantially high but supply limited.
Other hotels in the industry that are also expanding their footprint to cash in on the rising demand are Marriott International, Inc. MAR, Hyatt Hotels Corporation H and Hilton Worldwide Holdings Inc. HLT.
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