In 2015, Sheraton will open 20 new hotels and enter new markets such as Sri Lanka and Romania.
The long-established premium brand is steadily working toward its milestone goal of operating 500 hotels by 2016.
Stamford, Connecticut, March 5, 2015 /PRNewswire/ -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that its iconic Sheraton brand will continue its robust global expansion by opening at least 20 new hotels by the end of this year. Sheraton has consistently demonstrated the ability to seize early-mover advantages. In 2014, Sheraton successfully entered Tajikistan, and last month made its debut in Samoa. Building on this momentum, Sheraton will enter Sri Lanka and Romania this year. Strong demand in the Asia Pacific region is also driving an increase in the brand’s pipeline, helping Sheraton steadily move closer to its goal of operating 500 hotels globally by 2016.
“Among Starwood’s portfolio, Sheraton has the largest number of hotels and the most extensive global footprint. Sheraton is on track to open more than 50 new hotels and enter 14 new countries by the end of 2018. This continued expansion is the result of billions of dollars invested over the past several years to elevate the brand. Sheraton’s enduring popularity and success among global travelers stem from our dynamic brand initiatives and innovative social spaces that connect guests with what—and who—matters most,” said Simon T. Hudson, Global Brand Leader, Sheraton Hotels & Resorts.
Rising demand in the Asia Pacific region boosts the number of newly signed hotels
In 2015, more than one-third of Sheraton’s new openings will be in the Asia Pacific region, driven in large part by accelerating demand in China. Already the country’s largest premium hotel brand, Sheraton continues to thrive in major cities, secondary cities, and resort destinations. This year, Sheraton will open its third hotel in Beijing and fifth in Shanghai, and will also enter five new markets including Bengbu, Chuzhou, Zhanjiang, and Harbin. Meanwhile, the number of Sheraton hotels under contract in China continues to surge, with 33 new hotels slated to open over the next four years.
With the opening of the Sheraton Hyderabad Hotel in 2016 and two other hotels under development, Sheraton’s network in India will also expand further. The global brand will also enter the Sri Lankan market with the opening of the Sheraton Colombo Hotel in 2016. Additionally, Sheraton’s second hotel in Samoa will make its debut this year.
“Sheraton continues to help Starwood widen its lead as the largest operator of premium and luxury hotels in the Asia Pacific region. China alone accounts for nearly 46% of Starwood’s room inventory in the region. Leveraging its first-mover advantage, Sheraton is solidifying long-term, stable relationships with owners and developers in both mature and emerging markets across the Asia Pacific and around the world, paving the way for the future growth of all of Starwood’s exceptional brands,” said Simon Turner, President of Global Development, Starwood.
Sheraton continues to expand its brand network in diverse global markets
As new hotels open in several popular European destinations, Starwood is continuing to broaden its presence in the market. Among the key new openings this year is Sheraton’s eighth hotel in Italy... -- ...the Sheraton Lake Como Hotel. Overlooking the picturesque Lake Como and set amidst park-like surroundings near historic and scenic cities, the property will open this year. Sheraton will also enter Romania, converting an ideally located city center hotel in Bucharest into the Sheraton Bucharest Hotel. In addition, the global flagship brand will grow its presence in Croatia with the opening of the Sheraton Dubrovnik Riviera Hotel and add two new hotels in Russia. Sheraton’s network in Turkey will also continue to expand with the opening of its second hotel in Istanbul and its first in Samsun.
Sheraton will also strengthen its position in the Middle East with two new hotels and six in the pipeline. Furthermore, Sheraton will re-enter Iraq... -- The Sheraton Dahuk Hotel is set to open this spring, followed by the Sheraton Erbil Hotel in 2016. Meanwhile, the Sheraton brand’s presence in the UAE will rise to seven with the opening of the Sheraton Sharjah Beach Resort & Spa later this year.
Starwood is also a leading global hotel operator in Africa, thanks in part to the continued growth of the Sheraton brand. The Sheraton Dakar Hotel will open in 2016, marking Sheraton’s entry into Senegal. In addition, five Sheraton hotels are under development on the continent, located in Mauritania, Rwanda, and South Sudan.
Sheraton continues steady growth in the Americas
Sheraton continues to lead among all Starwood brands in total number of hotels in the pipeline. In 2015, Sheraton will open two new hotels in North America, in Mesa, Arizona, and McKinney, Texas, and will also expand its network to Georgetown, Texas. Several brand conversion hotels are also expected to be signed and opened within the year.
In Latin America, Sheraton has also gained solid traction and remains on a path of sustainable growth. The upcoming Sheraton Cartagena Hotel will bring Sheraton’s presence in Colombia to two hotels and its total in Latin America to 37. In 2016, Sheraton will return to Bolivia with the opening of the Sheraton Santa Cruz Hotel. Last year, Sheraton opened its sixth hotel in Brazil... -- ...the Sheraton Recife Praia do Boa Viagem Hotel & Convention Center, and made its return to the Dominican Republic with the opening of the Sheraton Santo Domingo Hotel.
About Sheraton Hotels & Resorts
Sheraton Hotels & Resorts, with more than 400 hotels in nearly 70 countries, helps guests connect. Recently completing a $6 billion global brand revitalization program, Sheraton is now in the midst of an $8 billion global expansion plan to be completed over the next three years. Sheraton is the largest and most globally recognized brand within Starwood Hotels & Resorts Worldwide, Inc., one of the world’s leading hotel and leisure companies with more than 1,200 properties in over 100 countries and territories, employing more than 181,400 associates worldwide. A recognized global brand, Starwood is a fully integrated owner, operator, and franchisor of hotels and resorts with a portfolio that includes St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points by Sheraton®, Aloft®, and Element.®. Starwood boasts an industry-leading and highly acclaimed loyalty program – SPG Club, where members can earn points and redeem them for hotel stays, room upgrades, and flights, all without blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., delivering world-class vacation experiences through its collection of villa-style resorts and exclusive privileges across nine brands. For more information, please visit www.starwoodhotels.com.cn.
. Note: This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Future results, performance, or achievements could be affected by general economic conditions, including the duration and severity of any continued global or regional economic downturns, the availability of alternative financing on acceptable terms, the impact of war and terrorism, business and financing environments, fluctuations in foreign currency exchange rates, the cyclical nature of the real estate (including residential), hotel, and timeshare businesses, and risks associated with the operation of hotels, timeshare, and residential properties. These risks and uncertainties are described in detail in our filings with the U.S. Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be achieved or that results will not differ materially. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.