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Starwood, Hyatt Tout Coming Expansions In India
A pair of U.S.-based hotel operators highlighted their plans to expand their existing portfolios in India, as the companies look to tap into one of the globe's hottest hotel markets.
Starwood Hotels & Resorts Worldwide Inc. (HOT) on Tuesday said it was on track to expand its existing portfolio in India by 60% by 2013.
In a separate statement, Hyatt Hotels Corp. (H) said it plans to expand its presence in four Indian cities, as well as enter into 15 new markets, over the next five years. Hyatt added it expects to add more than 10,000 new associates to the region, in addition to the more than 3,500 already employed in India.
Starwood, which operates such hotel brands as W Hotels, Westin St. Regis and Sheraton, already operates 26 hotels in India -- making it the largest luxury U.S.-based hotel operator in the region.
