US-hotel group Starwood has already pumped €1bn ($964.9m) into Europe’s hotel market, as part of its plans to double its presence on the continent.
The company has invested €100m ($96.5m) of the investment into a hotel renovation programme, and is gearing up to open hotels in Rotterdam, Marbella and Dublin over the next few months. The US-based company is also keen to double the number of Sheraton hotels by 2001, making its European debut in Paris.
Starwood had a turnover of €4.04bn) $3.9bn in 1999.
Le Figaro, 03 March 2000, page VI
