WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Nov. 16, 2011-- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced that its iconic Sheraton brand will open ten new resort properties by the end of 2012. Nine of the new resorts will open in China, and the other will open in Indonesia. With these new additions, Sheraton will boast the largest portfolio of resorts under one brand in the four and five star category.
“The Sheraton resorts portfolio is experiencing phenomenal growth fueled by the development boom in China and other dynamic emerging markets across Asia Pacific and the Middle East,” said Hoyt Harper, global brand leader for Sheraton Hotels & Resorts. “Part of our $5 billion global growth strategy, these new openings in Bali, Sharjah, Yantai and nine more destinations add even more luster to our expanding resorts portfolio.”
“The surge in new Sheraton resort openings in Asia Pacific underscores the resounding popularity of the brand in this dynamic market, where Starwood continues to lengthen its lead as the region’s largest global hotel operator,” said Miguel Ko, Chairman and President of Starwood’s Asia-Pacific Division. “Already one of the most well-established global brands in Asia, Sheraton is poised for even more growth in the resort segment over the next decade, fueled by the projected surge of inbound and outbound travel to Asia.”
Sheraton currently boasts a portfolio of nearly 60 resorts in key destinations around the world including several award-winning properties such as the Sheraton Maui, Sheraton Wildhorse Pass, Sheraton Maldives, and more.
Starwood has spent the last few years renovating and rebuilding one of the hotel industry’s most iconic brands and Sheraton now stands better than ever with the strongest portfolio in its history. The brand is gaining market share, RevPAR continues to rise, guest satisfaction scores are the highest in the brand’s history and likelihood to return, likelihood to recommend and meeting planner and associate engagement scores are also at all-time highs – signaling that guests are taking notice and rediscovering the new Sheraton, and increasing the brand’s appeal to owners and developers.
Sheraton helps guests make connections at more than 400 hotels in 70 countries around the world and recently completed a $6 billion global revitalization and is now in the midst of a $5 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 1,051 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®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, and Element SM. 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 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.
Starwood Hotels & Resorts
Nadeen Ayala, 914-640-8259
Source: Starwood Hotels & Resorts Worldwide, Inc