WHITE PLAINS, N.Y., Dec 15, 2010 (BUSINESS WIRE) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that its global powerhouse Sheraton Hotels & Resorts will open three more hotels in China before the end of January, including its third in Shanghai and first hotel in Wenzhou, one of the most developed economic centers of Zheijang Province on China's southeastern coast.
The first to open is Sheraton Wenzhou Hotel on December 28, followed by Sheraton Jiangyin Hotel on December 31 and Sheraton Shanghai Hongkou Hotel on January 15. With the addition of these three new hotels, Sheraton will boast a portfolio of 35 hotels in Greater China, with another 29 in the pipeline.
"China is now Starwood's second largest hotel market outside the United States and our iconic Sheraton brand is leading the charge, accounting for more than half of all Starwood hotels opening across this vast, dynamic country," said Simon Turner, President of Global Development for Starwood. "Sheraton has rapidly built a footprint not only in well-known cities such as Beijing and Shanghai, but also in many emerging urban centers. And demand continues to outpace supply in China, where there are 171 cities with a population of more than a million people."
Starwood's largest brand, Sheraton boasts a current portfolio of 400 hotels in 75 countries and 92% awareness among business travelers, higher than all other global hotel brands. Following the recent completion of its $6 billion revitalization campaign, Sheraton is now investing another $5 billion to add approximately 35 new hotels to its portfolio by the end of 2013. Half of the new Sheraton hotels will open in China.
"Sheraton was the first international branded hotel to open in China 25 years ago with the landmark debut of Great Wall Sheraton Hotel in Beijing, and we've never looked back," said Hoyt Harper, global brand leader for Sheraton Hotels & Resorts. "By leveraging its first mover advantage, Sheraton has become one of China's most popular global brands. As a result, Starwood has a significantly larger footprint in China than any of its competitors."
"Sheraton is a formidable player with a long-standing history in China's hotel market," said Miguel Ko, Chairman and President of Starwood's Asia-Pacific Division. "China is on track to become the world's largest tourism market by 2015 and is already our second largest market for Starwood Preferred Guest. As the Chinese pick up their pace of travel, they are going to stay with the brands they know and love, setting the stage for significant growth across all of our brands."
Sheraton Wenzhou Hotel will open on December 28 in Wenzhou and mark's the Sheraton brands entry into the economic center of the Zheijang Province. Ideally located at the city center, Sheraton Wenzhou Hotel is walking distance to upscale boutiques and the central business district, and just 30 minutes from Wenzhou Yongqiang Airport. The hotel features 303 stylish and comfortable guest rooms and more than 15,000 square feet of meeting space.
Scheduled to open on December 31, the 298-room Sheraton Jiangyin Hotel is surrounded by rivers and lakes, the ancient port city of Jiangyin, which means "River Shade," The hotel is located adjacent to Huangshanhu Park and opposite Jiangyin City Hall - two of the areas main attractions. The hotel is also close to shopping, entertainment and the business district, making the hotel the perfect choice for both leisure and business travelers. The hotel offers more than 40,000 square feet of meeting space including a 22,600 square meters Huang Jia Grand Ballroom that accommodates 1,500 people for business or social events.
Sheraton Shanghai Hongkou Hotel is slated to open January 15, 2011, close to People's Square as well as Nanjing Road, Lujiazui and Huaihai Zhong Road central business districts. The third Sheraton to open in Shanghai, Sheraton Shanghai Hongkou Hotel will offer nearly 13,000 square feet of meeting space and 471 guest rooms with breathtaking views of the river, city and the Bund - Shanghai's most famous tourist destination.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1025 properties in 100 countries and territories with 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Méridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched Aloft(R), and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.
SOURCE: Starwood Hotels & Resorts Worldwide, Inc