STAMFORD, Conn. – January 30, 2012 –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.”
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.