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Marriott International has announced its $500m (£374.5m) transformation vision for Sheraton Hotels and Resorts, the third largest brand in its portfolio.
The world’s largest hotel group said the brand will overhaul its public spaces following the redesign of its guestrooms last year.
The company showcased its vision for Sheraton’s public spaces at the NYU International Hospitality Industry Investment Conference in New York geared towards the brand’s signature focus on “guest experience, hotel operations and design philosophy”.
Arne Sorenson, president and CEO of Marriott International, said: “From the moment we closed the Starwood merger in late 2016, the revitalisation of Sheraton has been a top priority for our company.
“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% of Sheraton hotels have committed to renovations with some already underway.
Tina Edmundson, global brand officer Marriott International, added: “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.
“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 revitalising lodging brands.”
