|Sheraton Hotels Continues to Enhance Global Portfolio - Invests More Than $350 Million to Renovate Flagship Properties across the Globe|
STAMFORD, Conn., Apr 19, 2012 (BUSINESS WIRE) --Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that its largest brand, Sheraton Hotels, and its owners are investing more than $350 million to enhance its flagship properties around the world. The global hotel giant will unveil several large-scale renovation projects this year including the $160 million renovation of the Sheraton New York Hotel & Towers, the multi-million dollar refurbishment effort of the Sheraton Grand Hotel & Spa in Edinburgh, and the $20 million renovation of the "grande dame" of Australia -Sheraton Mirage Resort & Spa Gold Coast. In addition, several Sheraton landmark hotels will kick-off impressive, multi-million dollar renovations this year, including the Sheraton Rio Hotel & Resort in Brazil, Sheraton Maria Isabel Hotel & Towers in Mexico City, and the Great Wall Sheraton Hotel Beijing, Sheraton Xian Hotel, Sheraton Chengdu Hotel and Sheraton Nanjing Hotel in China.
"We are delighted to follow our highly successful $6 billion brand-wide revitalization with a significant investment in several of our flagship properties," said Hoyt Harper, Global Brand Leader for Sheraton Hotels & Resorts. "As business and leisure travel continues to gain momentum, Sheraton is well positioned to meet the increased demand for high-caliber lodging with upgraded brand offerings and a line-up of freshly renovated landmark hotels in key cities across the globe."
Starwood has spent the last few years renovating and rebuilding one of the hotel industry's most iconic brands and Sheraton now stands taller than ever with the strongest portfolio in its history. The brand is gaining market share, RevPAR continues to rise, guest satisfaction scores are the highest in the brand's history and likelihood to return, likelihood to recommend and meeting planner and associate engagement scores are also at all-time highs - signaling that guests are taking notice and rediscovering the new Sheraton.
Landmark Hotel in Scotland Celebrates Multi-Million Dollar Floor-to-Ceiling Renovation
Later this month, the Sheraton Grand Hotel & Spa in Edinburgh, Scotland will unveil its multi-million dollar make-over. The UK's flagship Sheraton Hotel will offer fully refurbished guestrooms, over 14,000-square-feet of newly renovated meeting and event space, and a new restaurant and bar, in addition to the brand's signature offerings. The Sheraton Grand Hotel is also home to One Spa, one of Europe's most renowned spas. The updated Sheraton Grand Hotel & Spa will be Edinburgh's newest five-star hotel with the benefit of more than 25 years of operational excellence.
Sheraton Builds Upon its Legacy in Asia Pacific with Five Major Enhancements
Known as the "grand dame" of Australia, the Sheraton Mirage Resort & Spa Gold Coast will unveil its $20 million facelift. Enhancements have been made to the hotel entry, from the Porte Cochere to the lobby and reception area, the elevators bringing guests to the updated corridors and 293 guestrooms and suites, landscaping around the pool, and Terraces Restaurant and Breakers Lounge. This glamorous hotel is now the Gold Coast's only five-star resort to offer an absolute beachfront location.
The Great Wall Sheraton Hotel Beijing was the first five-star international hotel to open in China in 1985. Now, the brand and its owners are investing $50 million to renovate this landmark property and show Sheraton's continued dedication to providing the highest level of excellence in this region. Over the next three years, The Great Wall Sheraton Hotel Beijing will undergo an expansive overhaul of its three wings - one wing at a time - including renovation of all guestrooms, public spaces and all food and beverage outlets.
Other noteworthy multi-million renovation efforts in the region include the Sheraton Xian Hotel, Sheraton Chengdu Hotel, and Sheraton Nanjing Hotel.
Two Key Properties in Latin America Slated for Extensive Renovations
In March, the Sheraton Santiago Hotel & Convention Center in Chile will complete the final phase of its extensive $13.5 million floor-to-ceiling improvements which includes a full renovation to the hotel's lobby and convention center and all public areas including outdoor swimming pool and terrace, and outdoor restaurant.
This April, the Sheraton Rio Hotel & Resort in Brazil will start the first phase of its $30 million renovation effort that includes large-scale enhancements to the hotel's 542 guestrooms, Sheraton Club floors and club lounge, lobby, and lobby bar, including a new Link@Sheraton Cafe. Sheraton Rio Hotel & Resort will also add a new Shine Spa and Sheraton Fitness Programmed by Core Performance gym. The Convention Center will be expanded from 22,400-square-feet to 27,400-square-feet, making it the ideal venue for large events.
Later this year Sheraton Maria Isabel Hotel & Towers in Mexico City will embark on the first phase of a multi-million dollar renovation of 320 rooms which will completed by the end of 2012.
Sheraton New York Hotel & Towers Nears Completion of $160 Million Makeover
Led by internationally renowned interior architectural firm Wilson Associates, the 50-story iconic hotel has undergone a $150 million redesign scheduled for completion in April. The two-phase renovation includes an enhancement of the Sheraton Club lounge and a significant expansion of its 1,780 guestroom and suites. The prominent New York City landmark, which recently celebrated its 50th anniversary, also features signature offerings of the Sheraton brand's recent $6 billion revitalization effort including the Link@SheratonSM experience with Microsoft(R), Link@Sheraton Cafe and Sheraton Fitness Programmed by Core Performance.
Sheraton Hotels & Resorts, like all brands within Starwood's robust portfolio, is proud to offer the Starwood Preferred Guest(R) program, which made headlines when it launched in 1999 with a breakthrough policy of no blackout dates on Free Night Awards. SPG(R) offers members the ability to redeem awards at more resorts, more luxury properties, more European hotels and more golf properties than any other hotel program.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1,090 properties in 100 countries and territories with 154,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Meridien(R), Sheraton(R), Four Points(R) by Sheraton, Aloft(R), and ElementSM. The company boasts one of the industry's leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com
(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.)
SOURCE: Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts