US hotel group plans to invest in Angola

20 April 2011

Luanda, Angola, 20 April – US hotel group Starwood Hotels & Resorts Worldwide plans to invest in the Angolan market, in the area of hotel management, a senior director of the group, Patrick Finn said in Luanda Tuesday.

Speaking to Angolan news agency Angop, Finn said that he was in Angola in search of partnerships, and had already made some business contacts with positive results, and added that Starwood planned initially to invest in five-star hotels because, he noted, Luanda was still a business destination and these products adapted best to profiles for tourists and businesspeople.

Finn said that the Angolan hotel market, particularly Luanda, was attractive for the development of new hotels because prices were high and often higher than in Paris and London or even in relation to other world cities.

Starwood has 1,025 hotel units in 100 countries, 42 of which in Africa.

It owns, operates and has concessions on hotels, resorts and residences, under the St Regis, The Luxury Collection, Le Méridien, Sheraton and other brands. (macauhub)