Word: starwood
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Dates: during 2010-2019
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...majors like Chevron and ExxonMobil, and European giants such as BP and Royal Dutch Shell, arrived to tap Libya's vast oil reserves, betting that the country would become an energy powerhouse. Construction crews now bang and clatter across Tripoli, building apartment and office towers, Western hotels (InterContinental, Starwood and Marriott are all working on new hotels) and a new airport...
...shouldn't bet on an easy run in Libya. In fact, American firms are late to the scramble for the country's riches. If they look out their hotel windows, they will see crews from Korean, Turkish and Italian companies building luxury seaside towers, including an Intercontinental Hotel; a Starwood Four Points and a Marriott hotel are scheduled to open next year. U.S. businesses are not expected to seal any deals this week; with few contacts, they are focusing on just breaking the ice with Libyans. "This is a get-to-know-Libya trip," says Gene Cretz, the first...