Sheraton starting largest expansion in its history
Sheraton’s announcement it was starting the largest expansion in its 71 year history — including $2 billion on new North American Hotels — comes at a time when analysts are concerned about the faltering economy and how it will impact the hospitality business.
But Sheraton officials do not seem concerned.
“Sheraton Senior Vice President Hoyt Harper said in an interview that the company is looking to appeal to all travelers with its efforts, whether they want to stay at a convention-style hotel or a resort. Sheraton, which manages and franchises the properties, determined that it would put new hotels in markets with high demand as well as areas where it was underrepresented,†said the AP.
Mr Harper also said, however, that Sheraton is keeping a close eye on the economic climate and acknowledges that some of its hotel deals are taking a little longer to finish due to the current environment. But he added Sheraton does not expect the company to scale back on its expansion plans at this time.
“We don’t see any red flags,†he said.
The company said it will open 29 hotels this year.
Sheraton, which will have 54 new hotels by the end of next year, currently has 406 hotels and resorts in 71 countries. It will spend $2 billion on 39 new North American hotel openings by the end of 2009.
The company’s plan also calls for 85 new hotels to open around the world in 2010.
In addition, Sheraton looks to spend more than $1 billion to renovate 50,000 North American guest rooms and redesign more than 100 lobbies by the end of 2009.
Hotel renovations include the Sheraton Dallas and Sheraton Denver, with Sheraton expecting to pump more than $170 million into the two properties to add on rooms as well as meeting space.
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 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive