Starwood Hotels & Resorts Worldwide, a New York-listed hotelier, is increasing the number of hotels it manages in Shanghai to at least 12 in the coming year as it competes with other foreign hoteliers for a bigger slice of a thriving market, according to a senior official.
Starwood was in talks to add at least four hotels in the next 12 months to the eight Sheraton, W and Westin hotels it manages in the city, Asia Pacific president Miguel Ko said.
The plan indicates a revision of the company's 2005 proposals to have a portfolio of 10 hotels in the city by 2015.
'Shanghai is like New York. It is the proxy of growth for the country,' Mr Ko said. Starwood runs 10 hotels in the US city.
Starwood has 37 hotels being built in addition to 31 in operation in the mainland.
The six hotels in Shanghai were among the group's most profitable in the country, Mr Ko said. Two - a Sheraton and a Four Points by Sheraton - were opened on March 28.