According to Bloomberg .com , Starwood Hotels & Resorts Worldwide Inc. said on Mar 12th “Starwood continues to see demand for growth of all of our brands across the Middle East and Africa despite economic and political uncertainty in some parts of this incredibly diverse region,” Frits van Paasschen, chief executive officer of Starwood, said in the statement. “Rapid economic growth, rising personal incomes, a growing middle class and ever greater global connectivity are driving new travel patterns and demand for travel, and this region is at the center of these trends and a key focus of our growth strategy.”
United Arab Emirates, Saudi Arabia, Algeria, Egypt, Senegal, South Africa and Nigeria will be the focus of Starwood in the next 5 years with a plan expanding its market in the region with 50 hotels more in addition to 82 hotels already exist with a capacity of 22,000 rooms .
Starwood is taking a risk where other companies- except oil companies- are trying to avoid.
An investment in the Middle East at this time, in an unstable social, economic and political environment is a dangerous card to play.