Sheraton extends footprint with US $4 billion

Starwood Hotels & Resorts Worldwide said Sheraton Hotels & Resorts is to increase its worldwide footprint by adding approximately 50 new hotels and more than 20,000 rooms through the next three years.

Starwood and its partners are investing more than $4 billion in new hotel openings across four continents.

Starwood president of global development Simon Turner said the brand would be working with established development partners.

"Increasingly, we are seeing demand and growth opportunities for new hotels in fast-growing international markets like China and India,” Turner stated.

“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."

Beginning in 2010, the brand will open roughly 50 new hotels over three years in 15 countries, including the United States, Colombia, India, Russia, Slovakia, Taiwan and Vietnam.

Sheraton will nearly double its footprint in the country with the addition of 28 properties, including the Sheraton Shanghai Hong Kou Hotel, Sheraton Qingdao and Sheraton Huadu Resort , bringing its total number of hotels there to 50.

The brand will also add 10 new resorts to its portfolio, expand its footprint in New York City with new properties in Brooklyn and Manhattan's Tribeca neighborhood and open several new convention hotels.

"Over the past three years, Sheraton has successfully revitalised one of the hotel industry's most iconic brands and now we're sustaining the momentum with an ambitious worldwide expansion," 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. To ensure Sheraton was poised to dominate both domestically and internationally we invested $6 billion globally - $4 billion in North America alone - to ensure a consistent, exceptional guest experience across our portfolio."