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Marriott International has announced its transformation vision for Sheraton Hotels and Resorts, the third largest brand in its portfolio, and the largest outside of North America in terms of room count. The company, which introduced its new Sheraton guestroom late last year, is showcasing its vision for Sheraton’s public spaces at the NYU International Hospitality Industry Investment Conference in New York.
“From the moment we closed the Starwood merger in late 2016, the revitalization of Sheraton has been a top priority for our company,” said Arne Sorenson, president and CEO of Marriott International. “We knew that the way to restore this incredible brand was focus and collaboration with our hotel owners. We wanted to build on Sheraton’s rich legacy of sitting at the heart of communities across the globe, but also to create a differentiated positioning and compelling proposition for our owners. With our Sheraton transformation plan, we’ve put together all of the pieces of the equation to work cooperatively with our owners to set this iconic brand on a new, disciplined and successful path. We are ready, our vision is clear and the energy is robust for Sheraton.”
Owners are already responding to the new vision with optimism and energy, committing an estimated half-a-billion dollars in renovations of hotels across the US. Globally, 25 percent of Sheraton hotels have committed to renovations with some already underway.
This week, Sheraton has built out a 4,200-square-foot vignette at the NYU International Hospitality Industry Investment Conference that brings its vision to life, allowing investors to understand and experience Sheraton’s transformation plans firsthand.
“Marriott International is well positioned to deliver a comprehensive strategy for Sheraton’s brand transformation and we already have great momentum.
“This is the first time in years that the brand has been above competitive benchmark in both rate and occupancy,” said Tina Edmundson, global brand officer, Marriott International.