Starwood Hotels & Resorts Worldwide Inc. Group entrepreneur of hotels in acapulco, hotels in mexico city and in the entire USA; It has recently announced plans to renovate for Sheraton, New York, one of the largest in New York with 1,780 rooms and other services hotels. The renovation will cost $150 million and be completed in two phases. The first phase re-design 1,080 rooms at the Sheraton New York Hotel and Towers in May 2011. The rest of rooms are worked in the month of December 2011 and April 2012. The project marks a milestone in the Sheraton brand rejuvenation policy to increase its global portfolio.
This will be one of the largest programs of renewal of this year. Being located in one of the most popular tourist destinations, the Sheraton in New York remains a better option for renewal. Sheraton is leading the growth of Starwood market share and represents most of the global growth of Starwood projection. In the past three years, the brand has enjoyed an unprecedented level of the guest’s satisfaction. This in turn resulted in a gain of 210 basis points in the income index per room available in North America in 2010. Recently, the Sheraton completed a program of six billion dollars in all, brand revitalization, including $400 million in the brand’s signature initiatives. Apart from the domestic market, the Sheraton brand is in excess in the Chinese market, which promises a huge long-term in the global tourism growth.
Sheraton remains committed to investing another $5 million dollars to add approximately 35 new hotels by the end of 2013, half of which will be opened in China. Sheraton appearance in China goes back to 1985 with the historic debut of the Great Wall Sheraton Hotel in Beijing. Taking advantage of their advantage of the first movement, the Sheraton has become one of most sought after China after global brands. The company now aims to several Chinese cities, who are under penetrated but densely populated. A city as it is Shantow. The company has sealed an agreement to build a Sheraton hotel there. more than competitor Starwood, Marriott International Inc. (MAR analyst reports) is also eyeing China and seeks to double its portfolio in that country.