News for the Hospitality Executive
STAMFORD, Conn.--January 30, 2013-- 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 is anticipating record-breaking growth, putting us on track to open our 500th 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."
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)
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."
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.
Sheraton 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.
About Sheraton Hotels & Resorts
Sheraton helps guests make connections at more than 400 hotels in nearly 70 countries around the world and recently completed a $6 billion global revitalization and is now in the midst of a $6 billion global expansion over the next three years. Sheraton is owned by and is the largest and most global brand of Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and leisure companies in the world with 1,134 properties in nearly 100 countries and 154,000 employees at its owned and managed properties.
Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and ElementSM. The Company boasts one of the industry's leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com
Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Further results, performance and achievements may be affected by general economic conditions, including the duration and severity of any global or regional economic downturns, the availability of financing alternatives at acceptable terms, the impact of war and terrorist activity, business and financing conditions, foreign exchange fluctuations, cyclicality of the real estate (including residential) and the hotel and vacation ownership businesses, operating risks associated with the hotel, vacation ownership and residential businesses. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Starwood Hotels & Resorts
Thi My Dung (Mandy Tran) Appointed as Director of Sales & Marketing
for the 280-key Sheraton Nha Trang Hotel & Spa in Vietnam /
Hotels & Resorts Partners with GJP Hotéis & Resorts for
the Sheraton da Bahia Hotel to Open in Salvador, Brazil in Q1 2013; The
Conversion of the 284-room Historic Hotel da Bahia is Currently
Underway with Extensive Renovations / December 2012
Hotels & Resorts Opens the 203-key Sheraton Bali Kuta Resort on
Kuta Beach in Indonesia; Owned by PT. Indonesian Paradise Island /
Hotels & Resorts Invests $230 Million to Renovate Four Hawaiian
Properties; Multi-Million Dollar Upgrades Made to the Sheraton Waikiki,
Sheraton Maui Resort & Spa, Sheraton Kauai Resort and Sheraton Kona
Resort & Spa at Keauhou Bay / November 2012
Ehmann Appointed as General Manager of the 1,000-room Sheraton Phoenix
Downtown Hotel in Arizona / October 2012
and Operated by Wurzak Hotel Group the 180-room Sheraton Valley Forge
Hotel Opens in King of Prussia, Pennsylvania / September 2012
229-room Sheraton Silver Spring Hotel Opens in Silver Spring, Maryland;
Owned by Integrated Capital, the Former Crowne Plaza has Undergone an
Extensive Renovation and Conversion Project / September 2012
by Merced Partners and Managed by Wischermann Partners, the 251-room
Sheraton Hartford South Hotel Opens in Connecticut; The Former Marriott
is Undergoing a $6 Million Renovation and Conversion Project /
265-room Sheraton Tampa East Hotel Opens in Florida Through the
Renovation and Conversion of the Former Crowne Plaza; Owned by a Joint
Venture Between Interstate Hotels & Resorts, Waramaug Hospitality,
LLC and a Private Investment Group / July 2012
Newly Constructed 120-room Four Points by Sheraton Kelowna Airport to
Open in Kelowna, British Columbia, Canada in Spring 2013; Owned by
Argus Properties and Managed by Pacrim Hospitality Services
/ April 2012
a Global Pipeline Fueled by Demand in Emerging Markets, Sheraton to
Open 20 Hotels in 2012; Among them will be Starwood’s Largest Hotel in
the World, the Nearly 4,000-room Sheraton Macao / February 2012
Says Hotel Conversion Opportunities in North America Expected to Rise
in 2012 with Uptick in Portfolio Transactions / January 2012
Racsko Named as General Manager for the 284-room Sheraton Nha Trang in
Vietnam / September 2011
Invests Over $100 Million to Upgrade More Than 120 Club Lounges Around
the World and Will Now Keep Club Lounges Brand-wide Open Seven Days a
Week / April 2011
Meynard Named Executive Chef at Sheraton Nha Trang Hotel, Nha Trang
City, Vietnam / November 2010