Global Pioneer Sheraton Hotels Anticipates Another Strong Year of Growth
On Track to Cross the 500th hotel milestone in 2016, Sheraton will Open 20 Hotels this year and Launch in New Markets including Sri Lanka and Romania
STAMFORD, Conn. - March 4, 2015 - (BUSINESS WIRE) - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced its iconic Sheraton brand continues to power ahead across the globe with at least 20 new hotel openings expected by year’s end. Leveraging its ‘first-mover’ advantage, Sheraton will enter Sri Lanka and Romania this year, building upon the momentum of its 2014 debut in Tajikistan and last month’s launch in Samoa. Strong demand across Asia Pacific is driving future pipeline growth, putting Sheraton on track to cross the 500th hotel milestone in 2016.
“Boasting the largest and most global portfolio of all of Starwood’s brands, Sheraton expects to open more than 50 hotels and enter another 14 countries by the end of 2018. This continued expansion follows our multi-billion dollar investment to enhance the brand over the past several years,” said Hoyt Harper, Global Brand Leader for Sheraton Hotels & Resorts. “Sheraton has enjoyed phenomenal success with global travelers due to its dynamic brand-led programming and innovative social spaces that engage and inspire guests to connect with what matters most - no matter where they are in the world.”
Rising Demand across Asia Pacific Drives Pipeline Growth
Sheraton will open more than one-third of its new hotels in Asia Pacific in 2015, driven by accelerating demand across China. Already the largest high-end hotel brand in China, Sheraton is growing in primary cities, as well as in China’s secondary and resorts markets. This year, Sheraton will open its third hotel in Beijing, its fifth in Shanghai and debut in five new markets including Bengbu, Chuzhou, Zhanjiang and Harbin. Meanwhile, the brand’s development pipeline in China continues to swell, with another 33 hotels slated to open over the next four years.
Sheraton will expand its footprint in India with the debut of Sheraton Hyderabad Hotel in 2016, and another two hotels in development. The global powerhouse will also enter Sri Lanka with the opening of Sheraton Colombo Hotel in 2016 and will open its second hotel in Samoa this year.
“Sheraton holds firm in helping to widen Starwood’s lead as the largest upper upscale and luxury hotel operator in Asia Pacific, including China, accounting for nearly 46% of the company’s rooms in the region,” said Simon Turner, President of Global Development for Starwood. “Building on its ‘first-mover’ legacy, Sheraton has facilitated the development of meaningful, long-term relationships with owners and developers in mature and emerging markets not only in Asia Pacific, but in all corners of the world, paving the way for the further development of all of Starwood’s high-caliber brands.”
Sheraton to Expand Footprint in Diverse Global Markets
Sheraton is extending its reach in Europe with several debuts in sought-after destinations. Key openings this year include Sheraton Lake Como Hotel, the brand’s eighth in Italy. Overlooking the spectacular Lake Como, the hotel offers a park-like setting within close proximity of the historic and picturesque city. Sheraton will also enter Romania this year with the opening of Sheraton Bucharest, a strategic conversion in an ideal downtown location. In addition, the global hotel icon will expand its portfolio in Croatia with the debut of Sheraton Dubrovnik Riviera, add one more hotel in Russia, and grow its portfolio in Turkey with the opening of its second hotel in Istanbul and its first in Samsun, which celebrated its soft launch early in the year.
Two openings in the Middle East will amplify the Sheraton brand’s presence in the region, where it has another five in the development pipeline. Meanwhile, the brand’s portfolio in the United Arab Emirates will increase to seven hotels by year’s end with the opening of Sheraton Sharjah Beach Resort & Spa.
Sheraton maintains its role in strengthening Starwood’s position as a leading global hotel operator in Africa. Sheraton Dakar Hotel is slated to open in 2016, marking the brand’s debut in Senegal. Another five Sheraton hotels are in development across in Africa in markets such as Mauritania, Rwanda and South Sudan.
Sheraton Drives Growth Across the Americas
Sheraton Hotels keeps boasting Starwood’s largest development pipeline. In 2015, the global powerhouse will open two new hotels in North America - Mesa, AZ and McKinney, TX - and break ground in Georgetown, TX. Moreover, several conversions are expected to be signed and opened in North America within the year.
Sheraton is well-positioned for sustained, high-quality growth across Latin America, as well. The upcoming opening of Sheraton Cartagena will give the brand a second hotel in Colombia and increase its total portfolio in Latin America to 37 hotels. In 2016, the brand will return to Bolivia with the opening of Sheraton Santa Cruz. Last year, Sheraton opened its sixth hotel in Brazil - Sheraton Reserva do Paiva Hotel and Convention Center and returned to the Dominican Republic with the opening of Sheraton Santo Domingo Hotel.
Sheraton Hotels & Resorts
Sheraton helps guests make connections at more than 400 hotels in nearly 70 countries around the world. The brand recently completed a $6 billion global revitalization and is now in the midst of an $8 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 more than 1,200 properties in nearly 100 countries and over 180,000 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 Element®. 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.
SOURCE Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts