Real estate risk to both assets and employees is on the rise in several emerging-market economies.
Le Meridien Oran Hotel & Convention Centre, which features spectacular coastal views and the largest conference center in North Africa, recently became the first Le Meridien to open in Algeria. Part of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), Le Meridien Oran Hotel & Convention Centre represents the third Starwood branded hotel now open in Algeria.
Starwood Hotels & Resorts Worldwide, Inc. is strengthening its position as the leading hotel operator in the Middle East and North Africa (MENA) region with an existing portfolio of nearly 70 hotels and a pipeline of 40 new hotels. This growth, primarily in the luxury and upper-upscale segments, represents an increase of nearly 60 percent over the next five years.
Marriott International today announced the addition of six new properties to its Middle East/Africa pipeline of 37 previously-announced hotels. They represent three of Marriott's lodging brands serving the luxury, upper-moderately priced and extended-stay travel segments.