The company estimates that owners have already committed $500 million in renovation investment in the US.
Marriott International has announced a “transformation vision” for Sheraton Hotels and Resorts, the third largest brand in its portfolio – and the largest outside North America in terms of room count.
The company has already revealed its new Sheraton guestroom, and now it is showcasing its vision for the brand’s public spaces at the NYU International Hospitality Industry Investment Conference in New York, stressing “its signature focus on guest experience, hotel operations and design philosophy”.
“From the moment we closed the Starwood merger in late 2016, the revitalisation 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.”
Reverting to its roots as a gathering place for locals and guests, Sheraton “today amplifies services and design that enable socialisation, productivity and personalisation”, Marriott says.
“Its strategy features collaborative venues, technology enabled designs, and a host who helps deliver a unique experience that is exclusive to Sheraton.”
Half a billion in renovations
Around 25% of Sheraton hotels worldwide have committed to renovations totalling an estimated $500 million.
“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 at Marriott International.
“We have improved brand standards, increased group bookings and ramped up our business engine over the last year as a first step in a multi-phase, multi-year plan, leveraging our experience in revitalising lodging brands.”
Since joining Marriott as part of Starwood, Sheraton has exited 6,000 rooms with another 2,000 expected to depart by the end of the year. But during the same period, 5,000 rooms have been signed to the portfolio.
Sheraton’s portfolio currently consists of nearly 450 open hotels with 80 projects in the pipeline in 72 countries and territories. By 2020, the brand’s footprint is expected to expand to 90 countries.