In a concerted endeavor to strengthen its Middle East as well as
luxury brands portfolio,
Starwood Hotels & Resorts Worldwide Inc.
) is all set to introduce one of its high-end brands, W Hotels,
in Israel. In this regard, Starwood will be launching W Tel Aviv
- Jaffa in Jaffa, Israel in 2015.
RFR Holding will be the owner of W Tel Aviv - Jaffa while Ramy
Gill Architects, Urban Designers and renowned British architect
John Pawson will be engaged in designing the property.
Israel has been one of the world's leading tourist destinations
blessed with beaches and historical attractions. Nearly 3.5
million travelers visited Israel during 2012. Several other
Wyndham Worldwide Corp.
Hyatt Hotels Corporation
Marriott International Inc.
) have considerable presence in this country. The tourism
industry, which contributes about 6.4% of the GDP of Israel, is
one of the country's major sources of income. These factors
justify Starwood's decision of bringing its W Hotel brand to the
Strategically positioned near the port of Jaffa and the
Mediterranean coast, the new hotel will be developed within a
heritage building in Jaffa. W Tel Aviv - Jaffa is also in close
proximity to Tel Aviv, a key economic and trading hub of Israel,
which should boost business travel in the area.
Comprising 125 guest rooms and suites, W Tel Aviv - Jaffa
provides a spectacular view of the Mediterranean Sea and
signature brand amenities. The 4,000 years of Israeli history
that Jaffa prides itself on, is another major attraction for the
Along with this, Starwood will also be developing an enclave with
38 six-storey apartments, The Residences at W Tel Aviv - Jaffa
beside W Tel Aviv - Jaffa, and is also slated to open in 2015.
Commencing its journey in 1963, this Zacks Rank #3 (Hold) company
now owns 45 hotels under various brands in the Middle East
region. The company is expecting a 70% increase in its Middle
East portfolio business in the coming five years. The emergence
of the Middle East region as an international business hub as
well as leisure travel destination encourages Starwood to focus
on this region.
HYATT HOTELS CP (H): Free Stock Analysis
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