Starwood Hotels & Resorts within the next five years plans to open 50 hotels across Europe, the Middle East and Africa

, including 12 this year. The company is looking at both new builds and conversions across all nine of its brands. Starwood's growth largely will focus on Eastern Europe, particularly Turkey and Russia, where it intends to double its portfolio by 2013. The company also plans significant investment in current EMEA properties, including $300 million for renovating Sheraton hotels, $30 million for updating by 2014 40 percent of its Le Meridien properties and $100 million for renovations to Luxury Collection properties.