Marriott International has announced its transformation plan for Sheraton Hotels and Resorts, its third largest brand and its largest outside North America per-room. Following the launch of the revamped Sheraton guestroom late last year, the company introduced its plan to reimagine its public spaces at the NYU International Hospitality Industry Investment Conference in New York in June. An estimated $500 million will be put toward redevelopment efforts, which a quarter of the Sheraton portfolio has already committed to.
“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,” says Marriott International president and CEO Arne Sorenson. “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.”
The new public space concept was presented at the conference via a 4,200-square-foot vignette, which showcases the company’s investment in collaboration, technology, and a host to deliver a unique Sheraton experience.
“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,” adds Tina Edmundson, Marriott International’s global brand officer. “We have improved brand standards, increased group bookings, and have ramped up our business engine over the last year as a first step in a multi-phase, multi-year plan, leveraging our experience in revitalizing lodging brands.”
