Starwood to double portfolio in Russia and CIS

International hotel group Starwood Hotels & Resorts Worldwide has announced plans to expand its portfolio throughout Russia and the Commonwealth of Independent States (CIS).

Over the next three years, Starwood will more than double its portfolio in the region with seven new hotels, including the debut of the Aloft brand in Russia with the new Aloft St. Petersburg.

'As one of the world's fastest-growing outbound travel markets, Russia represents a great opportunity for us,' said Frits van Paasschen, president and CEO, Starwood Hotels & Resorts. 'With a rising middle class, growing disposable income, an affinity for luxury brands and huge pent-up demand for foreign travel, Russia is emblematic of the growth we are seeing in regions around the world and key to our global growth plans.'

Starwood is focused on expansion in developing markets such as Russia as well as key emerging markets including Ukraine and Tajikistan. In 2013, the company plans to open its Sheraton Kiev Olympiysky, Ukraine, while in Tajikistan plans are open the first hotel with a new Sheraton facility in the country's capital city of Dushanbe.

A second Sheraton hotel will be opened shortly at Moscow Sheremetyevo Airport while a Four Points by Sheraton hotel is due for opening in Kaluga in 2014.

Starwood currently operates five hotels in Russia and CIS, including: Hotel National, a Luxury Collection Hotel, Sheraton Palace Hotel, both in Moscow, and the recently-opened W St. Petersburg in Russia, Sheraton Baku Airport in Azerbaijan and Four Points by Sheraton Zaporozhye, Ukraine. Last year, Starwood opened three new hotels in Russia and CIS.