Marriott unveils transformation plan for Sheraton
Marriot International recently announced its transformation vision for Sheraton Hotels and Resorts, the 3rd largest brand in its portfolio, and the largest outside North America in terms of room count. The company which introduced its new Sheraton guestroom last year, showcased its vision for Sheraton’s public spaces at the recently concluded NYU International Hospitality Industry Investment Conference in New York, unveiling in the process, the company’s brand strategy as well as its signature focus on guest experience, hotel operations and design philosophy.
In 2016, when Marriot International finalised the merger with Starwood, the top priority of the company was the revitalization of the Sheraton brand. “We knew that the way to restore this incredible brand was to focus and collaborate with our hotel owners. We wanted to build on Sheraton’s rich legacy of sitting at the heart of communities across the globe and also to create a differentiated positioning and compelling proposition to our owners.“ said Arne Sorenson, President and CEO of Marriot International.
The new vision has evoked a positive response and renewed optimism, as already an estimated US$ 500 million has been committed by owners and investors in the US. Close to 25% of Sheraton hotels are already undergoing renovations. “With our Sheraton transformation plan, we’ve put together all 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” added Sorenson.
Tina Edmundson, Global Brand Officer, Marriot International remarked that Sheraton’s brand transformation has already gathered great momentum, going above the competitive benchmark in both rate and occupancy for the first time in years. Since joining Marriot International in September 2016, intent to recommend the Sheraton brand has increased 2 points year-over-year.
Sheraton generates US$ 9.2 billion in property revenue globally. Sheraton’s portfolio currently consists of nearly 450 open hotels with additional projects in the pipeline in 72 countries and territories. By 2020, the brand’s footprint is expected to expand to 90 countries.
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