Sheraton Set to Open Eight More Hotels in China before Year’s End
The 30th Sheraton in Greater China Makes its Debut – The Sheraton Zhongshan Hotel
WHITE PLAINS, N.Y., Aug 30, 2010 (BUSINESS WIRE) — Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced that its global powerhouse Sheraton Hotels & Resorts plans to open eight more hotels in China before the end of 2010, and another 18 by 2015. The Sheraton brand also marked a major milestone this month with the opening of its 30th hotel in Greater China- Sheraton Zhongshan Hotel, which is Starwood's 60th property in Greater China.
"Sheraton is our most prolific brand in China, accounting for half of Starwood's current portfolio in this dynamic, fast-growing market. We are delighted to expand Sheraton in established cities like Beijing and Shanghai, while simultaneously introducing the iconic hotel brand to emerging business hubs and resort destinations," said Simon Turner, President of Global Development for Starwood. "China is leading the recovery in global tourism in 2010, and by 2020, it is expected to be the world's largest tourism market. And as the Chinese pick up the pace of their domestic and international travel, they are going to stay with the brands they know, which will have a phenomenal impact on our global business."
Later this year, Sheraton will open Sheraton Guangzhou Hotel, signifying the brand's debut in the city of Guangzhou, southern China's largest metropolis and a key transportation hub. Other key 2010 openings include the brand's third hotel in Shanghai – Sheraton Shanghai Hong Kou Hotel; and in 2011 its second in Beijing – Sheraton Beijing Dongcheng Hotel.
"We are thrilled with the robust expansion as we announce eight more Sheraton hotels throughout China and continue to expand our established upper upscale brands in various Chinese cities where we are currently under penetrated," said Stephen Ho, Senior Vice President of Development for Starwood's Asia Pacific Division. "Starwood continues to win many new hotel projects in China and this is largely due to the confidence the development community has in our lifestyle brands, noted innovations and consistently strong delivery of results in the region."
"The phenomenal success of Sheraton in China has been instrumental in establishing Starwood as the leading international luxury and upper upscale hotel operator in the region," said Hoyt Harper, global brand leader for Sheraton Hotels & Resorts. "Sheraton recently completed a $6 billion revitalization campaign, and now we're investing another $5 billion to add approximately 35 new hotels to our portfolio by the end of 2015. The fact that half of these new properties are opening in China underscores the tremendous potential of this vast, dynamic market, where the rising middle class is clamoring for high-caliber, global brands."
In 2011, Starwood will open Sheraton Hangzhou Wetland Park Resort, the first Sheraton hotel to open in China's most promising new resort destination.
Starwood's largest brand, Sheraton boasts a current portfolio of 400 hotels in 75 countries and 92% awareness among business travelers, higher than all other global hotel brands.
Sheraton Hotels Opening Before the End of 2010:
Sheraton Zhongshan Hotel, Zhongshan, China
Located in the city's central business district, the 30th Sheraton Hotel in Greater China will offer 362 spacious guest rooms, 3 restaurants and bar as well as 2,250 square meters of meeting space.
Sheraton Wuxi Binhu Hotel, Wuxi, China Opening
Located in the heart of the Binhu district, the hotel complex is adjacent to a retail mall, dining and entertainment district
Sheraton Tianjin Binhai Hotel, Tianjin, China
Situated in the heart of the Tianjin Economic-Technological Development Area (TEDA), one of the fastest growing economic zones in mainland China, the hotel is within easy reach of the Tianjin TEDA Administration Commission, the future Modern Service District (MSD), International Convention and Exhibition Centre, shopping and office areas.
Sheraton Wenzhou Hotel, Wenzhou, China
In close proximity to the Government Administration Center and the central business district, the hotel will offer 303 guest rooms including 76 suites, each created for a relaxing stay, with a well-appointed bathroom, wireless High Speed Internet Access in addition to Sheraton brand's signature programs.
Sheraton Guangzhou Hotel, Guangzhou, China
Located in the heart of Guangzhou's Tianhe central business district, the Sheraton Guangzhou Hotel is part of Teem Mall, the leading commercial and shopping complex in the city.
Sheraton Shanghai Hong Kou Hotel, Shanghai, China Opening
Only one mile from the Bund – one of the city's landmarks, the hotel will provide 490 spacious and inviting guest rooms and suites offering the signature Sheraton Sweet Sleeper Bed, five restaurants and bar, health club, indoor heated pool and spa.
Sheraton Jiangyin Hotel, Jiangyin, China Opening
With a city center location, Sheraton Jiangyin Hotel boasts its own attached convention centre with almost 3,700 square meters of flexible conference and event space, and state of the art meetings technology including a 2,100 square meter Grand Ballroom.
Sheraton Shenzhou Peninsula Resort, Wanning, China
It's the perfect home base for exploring all that Hainan Island has to offer with a beachfront location to the southeast of Wanning City on the beautiful Shenzhou Peninsula, a tropical paradise boasting 8 km of white sandy beaches and beautiful coves, with many recreational options–including golfing, fishing and water sports.
About Starwood Hotels & Resorts
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1000 properties in nearly 100 countries and territories with 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Méridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched Aloft(R), and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.
(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.) The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
SOURCE: Starwood Hotels & Resorts Worldwide, Inc.