Sheraton plans huge $6 billion expansion with 50 new hotels
An eye-opening $6 billion with 50 new hotels and over 20,000 new rooms are planned for Sheraton Hotels & Resorts Worldwide, Inc., the company announced in an ambitious plan.
Said Simon Turner, president of global development:
“Increasingly, we are seeing demand and growth opportunities for new hotels in fast-growing international markets like China and India. In addition, as transaction activity increases in more mature markets throughout North America and Europe we expect to see a number of high quality conversion opportunities to be realized, especially in light of the successful completion of the brand’s global revitalization.”
The expansion will cut across four continents over three years, the company says.
Sheraton currently owns more than 400 hotels in 70 countries. The chain has 92 percent global awareness among business travelers – the highest of any hotel brand in the world.
Beginning in 2010, the brand will open roughly 50 new hotels over three years in 15 countries, including the United States, Columbia, India, Russia, Slovakia, Taiwan, Vietnam and China.
The company will nearly double its footprint in China with the addition of 28 new properties.
In the US, new properties are planned for Brooklyn and Manhattan as well as several new convention hotels.
As the economy rebounds, the hotel industry is gearing up for a significant influx of new international travelers from emerging markets, the company said.
By 2015, 400 million Chinese and Indians will have sufficient incomes to travel abroad – for perspective that is seven times the number of international travelers who visited the United States last year. That bodes well for Sheraton, which has a reputation as the leading hotel brand in international markets.
Said Hoyt H. Harper II, senior vice president for Sheraton Hotels and Resorts:
“Sheraton has historically been one of the first Western hotels to enter developing markets, and when travelers from China and other emerging markets increase their travel internationally, they will stay with hotel brands they know from home.”
The company is investing $4 billion in North America and a total of $6 billion globally.
By David Wilkening
David
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt