Starwood Hotels & Resorts Worldwide Inc. (HOT) plans to expand its operations in Latin America by 50% over the next five years. This will lead to the opening of seven hotels per year on an average in that region. Starwood has been focusing on this fast growing region for quite some time. Starwood sees more construction opportunities in Latin America with around half a billion people and an abundance of natural resources. The affluent middle class population in Latin America which grew by 50% over the last decade and greater footfall in the region caught the attention of Starwood. Apart from being a tourist hub, the region is also emerging as a business hub. Starwood’s entry into Latin America dates back to 1963 when Sheraton Maria Isabel debuted in Mexico
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