This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sheraton Hotels Accelerates Portfolio Growth In The Pacific With Debut Of Sheraton Resort & Spa, Tokoriki Island, Fiji

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced its global powerhouse Sheraton has expanded its resorts portfolio with the opening of Sheraton Resort & Spa, Tokoriki Island, Fiji. Owned by local Fijian proprietary company, Ritam Investments Ltd, part of the P Meghji Group, the previously independent resort underwent an extensive $18.5 million renovation and conversion project prior to raising the Sheraton flag. The debut of Sheraton Resort & Spa, Tokoriki Island, Fiji, marks the Sheraton brand’s eighth property in the Pacific region and Starwood’s fourth operating property in Fiji, joining Sheraton Fiji Resort, Sheraton Denarau Villas and The Westin Denarau Island Resort & Spa.

“Sheraton continues to grow at a phenomenal pace by leveraging its first-mover advantage. The opening of Sheraton Resort & Spa, Tokoriki Island, Fiji, not only adds another world-class property to the rapidly expanding Sheraton resorts portfolio, but also strengthens Starwood’s position in the Pacific,” said Sean Hunt, Regional Vice President, Starwood Hotels & Resorts, Pacific. “The only internationally branded hotel in the Mamanuca Islands in Fiji, Sheraton Resort & Spa, Tokoriki Island, Fiji, will serve as a gathering place for both business and leisure travelers, where they can enjoy all of the brand’s signature amenities and services in an idyllic, beachfront location.”

Sheraton Resort & Spa, Tokoriki Island, Fiji, is situated on a 35-acre beachfront property in the south-western corner of Tokoriki Island, the northernmost island within Fiji’s idyllic Mamanuca group. Guests can reach the island via a 12-minute helicopter flight from Nadi or a one-hour boat ride. Fiji is the most easily accessible Pacific island nation and serviced by a number of carriers including Fiji Airways, with direct flights to Nadi out of Sydney, Melbourne, Brisbane Auckland, Los Angeles, Seoul and Hong Kong.

“We are delighted to embark on this new chapter with a leading and internationally recognized hotel company, Starwood Hotels & Resorts,” said Ritam Investments’ Director, Romit Meghji. “The Prime Minister, Rear Admiral Vorege Bainarama’s government has implemented generous investment incentives to encourage investment in the local economy. We are confident in the long-term security and growth of the Fijian market and trust that we will reap the rewards of this positive investment climate. We believe that our new venture will be a great success and a significant boost for the local economy. We have already created around 110 jobs on Tokoriki Island, 51 of which are for members of the local community.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs