Starwood Hotels & Resorts Worldwide has entered into a development agreement with OKHOW’s wholly owned subsidiary Youngshin HRD to set up an Aloft hotel in Yeongtong-dong, Suwon, the provincial capital of Gyeonggi-do, South Korea in October 2014.
The move is part of Starwood Hotels & Resorts’ global expansion plan and growth momentum in Asia Pacific.
Strategically located near to Incheon International Airport and Seoul, Aloft Suwon offers access to several sights, including the UNESCO World Heritage site of Hwaseong Fortress, the Suwon business district and local government offices.
Targeting the next generation of travellers, Aloft hotels provide music, design and technology at an affordable price, claims the company.
Aloft Suwon, which is part of a mixed-use development that also includes retail and residential spaces, will have 120 guest rooms, including 114 standard rooms and six suites.
The hotel will also feature a 404m² meeting and function space, two food and beverage facilities, a 275m² recreational facility with a gym and an 854m² spa.
Starwood Hotels & Resorts Worldwide Asia Pacific president Stephen Ho, commenting on the agreement with Aloft, said, "While Starwood has maintained a long-standing presence in South Korea since the opening of the Westin Chosun Busan, this signing marks an important milestone in our overall growth strategy to expand the Aloft brand. Aloft Suwon will add to ten existing Aloft hotels in exciting cities throughout the Asia Pacific region."
OKHOW develops new domestic / international business projects and cooperates with other international hotel brand chains.
Starwood Hotels & Resorts Worldwide has 1,112 properties in around 100 nations and 154,000 employees at its owned and managed properties.
Some of the hotels, resorts and residences operated by the company include St. Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points by Sheraton, Aloft and Element.
Starwood also owns Starwood Vacation Ownership, a provider of vacation experiences through villa-style resorts and privileged access to Starwood brands.