Starwood Hotels & Resorts Worldwide Inc.
) recently unveiled a Sheraton-branded property in San Jose,
Costa Rica. Launched in association with EXT Promociones S.A.,
the upscale property - christened Sheraton San Jose - aims to
ramp up Sheraton's presence in the fast-growing Latin American
Ideally situated at Escazu, Sheraton San Jose has an easy
access from the Aeropuerto Juan Santamaria airport. The key
commercial hub, Escazu, boasts offices of various world-class
retail companies such as
Tiffany & Co.
) as well as the first Costa Rican outlet of the leading coffee
). We believe this property featuring 172-guestrooms along with
various other amenities is well positioned to benefit from the
economic boom that the city is witnessing.
Starwood has appointed GHL Hoteles for managing the property.
GHL's association with Starwood goes back to the days when the
former managed the operations of Sheraton Bijao Beach Resort,
With this opening the company has moved a step ahead towards
fulfilling its dream to operate 100 properties in Latin America
by the end of this year. With a population of around half a
billion, the region's emergence as a business hub and its
fast-growing economy caught the attention of the hotelier.
Starwood which currently operates 76 hotels in Latin America
plans to take advantage of the surge in demand in Latin America.
In this regard, the hotelier aims to open seven hotels each year
on an average for the next five years, thereby increasing its
Latin American portfolio by 50%.
This Zacks Rank #2 (Buy) company sees more opportunities for
its largest brand, Sheraton, in Latin America. Starwood plans to
add four more hotels to the list of more than 30 Sheraton branded
properties operating across Latin America, within 2014. Starwood
is continuously trying to boost the Sheraton brand, which is
likely to reach the benchmark of 500 hotels worldwide by
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