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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)

Stocks in this article: HOT

Global Powerhouse Expands Footprint in Diverse Emerging Markets

In addition to the flurry of new hotel openings in China, Sheraton is also 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 is renowned as a global hospitality icon and the brand's early entry into markets around the world is continuing to pave the way for future growth not only for Sheraton, but also for Starwood's other eight sought-after brands," said Simon Turner, President of Global Development for Starwood. "The quality of the Sheraton hotel portfolio and pipeline is the strongest it has ever been and we look forward to ongoing expansion in both emerging and developed markets."

The brand’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.

Robust Growth in the Americas

One of the most promising growth markets for Sheraton is Latin America, which boasts several of the world’s fastest growing economies. This year’s 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.

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