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Ability is not deterring Starwood Hotels from expanding in fact seventy to 80% of its future plans.
Revolve around emerging markets joining.
Let's now offered -- passion and he's -- what hotels and resorts CEO and president take you to listen -- you -- beat the street.
Your -- report your own conference call -- you're saying in a way that while you have robust Latin American areas.
That what you expect from the US is steady but unspectacular.
Growth so what area on the planet are you looking -- to say this is what's gonna drive Starwood forward.
Well it's a combination them all the emerging markets together China has been an extraordinary growth engine for us over the last few years.
We expect that to continue.
China still has half its population that hasn't come -- the cities yet and an enormous -- demand for travel that will grow.
But some other markets that are really exciting press right now Indonesia's poised for growth.
A lot of the commodities exporting countries are like that.
If you look at India it's that same size as China was seven or eight years ago so -- great runway there.
We're seeing a huge pick up in interest and demand for Africa so it's very widely distributed around the world.
You know I'm just talking guys on the board of Morton's steakhouse a high and steak house that has opened up a lot of operations in China -- probably been there yourself.
But he says most of our clients over there are not locals their foreigners who visit is -- the same with hotels.
It's interesting 25 years ago we opened the first western hotel in China and the share in -- -- Beijing.
It was for western travelers only in effect Chinese local citizens can only get and essentially if they work yeah.
Today over half for business about 60% of our business -- hotels and China.
Is Chinese name and then there's also outside Chinese -- back to China that make up another big part of that business.
-- -- now -- it's gone full circle of outbound to China outbound traveler is going to be a major source of growth for us as we look ahead.
Well you you've had a headstart definitely it when it comes to China.
What is your opportunity in Latin America everybody talks about the Olympics coming to Brazil.
What kind of totaled you have in that market and how quickly can you possibly expand to take advantage of them track -- display be going there.
Brazil's a great market it's got a huge potential for raw materials exports it's one of the world's sixth or seventh largest economies.
We have six hotels there which is a small number relative to a country of that so I certainly compared.
To another -- a lot of other markets where we operate.
It's a difficult country to build and get capital to build real estate.
But since no analysis crack that code and they're so much demand -- we think there'll be opportunity.
So we continue to look we've been in Brazil by the way since the 1970 so we've seen things ebb and flow over time.
Where we've also grown with Brazil where the outbound travelers so that business has been huge for -- which is one of the reasons we just want -- Portuguese language website.
Fridge and let's talk about what kind of hotel works best in this kind of environment that we have worldwide where there is a slowdown.
Europe may go in a recession that we're not growing in a very strong way.
Do you focus on the high end -- -- -- -- is there more growth and on the middle land decided hoteliers.
Well we tend to focus on the high and that's where our brands are and that's our sweet spot in what's been -- -- is over the last five years.
The number of luxury rooms and our system.
Between W saint Regis and much your collection.
Has doubled so and that business has been very well for us and that continues to grow.
The -- -- demand growing for all of our brands right now around the world Sheraton continues to be the number one brand and our pipeline for new hotels in markets everywhere.
-- About by the way we should mention the W in Chicago carries fox business and we are boring -- -- and I did three area but thank you by the way we should also mention that the stock symbol is hot -- we showed you can't forget it and it's been on -- -- ever since October and great robes at the W.
Obviously we want some free -- let -- thank you have particular reference that.
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