Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that its global powerhouse Sheraton plans to open 30 hotels over the next 12 months. Half of the new Sheraton hotels will open in China, lengthening Starwood’s lead as the largest upper-upscale global hotel operator in Asia Pacific. Sheraton is also picking up momentum in several other emerging markets including Latin America, the Middle East and Turkey.
Sheraton Hotels & Resorts plans to open 30 hotels over the next 12 months including the Sheraton Huzhou Hot Spring Resort in China. (Photo: Business Wire)
“Sheraton is anticipating record-breaking growth, putting us on track to open our 500
hotel in 2015. 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,” said Hoyt Harper, Global Brand Leader for Sheraton Hotels & Resorts. “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.”
One of Every Two New Sheratons will Open in China
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 this vast market by the end of 2015. One of the more notable openings this year is Sheraton Huzhou Hot Spring Resort, which boasts an innovative ring-shaped structure designed by leading-edge architect Ma Yansong.
“The Sheraton growth trajectory in China has been nothing short of remarkable. 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,” said Harper. “We are also proud to add Sheraton Huzhou Hot Spring Resort to our growing portfolio of architecturally unique hotels in Asia Pacific.”