Sheraton Poised for Record-Breaking Growth over Next 12 Months
By Claudette Covey
January 30, 2013 9:29 PM
Starwood Hotels & Resorts said its Sheraton Hotels & Resorts unit plans to open 30 hotels over the next 12 months. Half of the new Sheraton hotels will open in China. Sheraton also is picking up momentum in several other emerging markets, including Latin America, the Middle East and Turkey.
“Sheraton is anticipating record-breaking growth, putting us on track to open our 500th hotel in 2015,” said Hoyt Harper, global brand leader for Sheraton. “The majority of our new hotel development is taking place in the world’s fast-growing economies, while in North America, Sheraton remains one of the most sought-after brands for conversion opportunities. Our portfolio is stronger than ever following our highly successful brand-wide revitalization and multi-billion dollar investment to enhance the Sheraton brand over the past several years.”
Sheraton is slated to open 15 new hotels across China over the next 12 months, moving it closer to its target of 80 properties in the market by the end of 2015. One of the more notable openings this year is Sheraton Huzhou Hot Spring Resort, which features an innovative ring-shaped structure designed by architect Ma Yansong.
“The Sheraton growth trajectory in China has been nothing short of remarkable,” said Harper. “For the fourth year in a row, Sheraton will open approximately half of its new hotels in China and demand continues to grow especially in second- and third-tier cities. We are also proud to add Sheraton Huzhou Hot Spring Resort to our growing portfolio of architecturally unique hotels in Asia Pacific.”
In addition to new hotel openings in China, Sheraton also is growing its portfolio in other fast-growing markets within Asia Pacific. New openings this year will include Sheraton New Caledonia Bourail Resort and Spa in New Caledonia and Sheraton Chandigarh Hotel in India.
Sheraton’s portfolio in Africa and the Middle East will expand over the next 12 months with the addition of four new hotels including the fourth Sheraton in Saudi Arabia -- Sheraton Medina Hotel, Sheraton Dubai Mall of Emirates and the first in Tajikistan -- Sheraton Dushanbe Hotel. Sheraton will also open two new hotels in Turkey, Europe’s fastest-growing market, in the cities of Adana and Bursa.
Latin America openings will include Sheraton Tucuman Hotel, the brand’s ninth hotel in Argentina. Sheraton is also increasing its footprint in Brazil as the country ramps up infrastructure development ahead of the 2014 FIFA World Cup and 2016 Summer Olympics. Following the opening of Sheraton Vitória in 2012, the brand will open Sheraton da Bahia Hotel in Salvador this year and Sheraton Reserva do Paiva Hotel & Convention Center, which is located 30 minutes from Recife, in early 2014. Sheraton also continues to capture conversion opportunities in cities across North America. Over the next 12 months, Sheraton will re-brand hotels in a number of key cities throughout the U.S.