Marriott International has unveiled a “transformation vision” for Sheraton Hotels and Resorts, the third largest brand in its portfolio.
A brand strategy has been outlined as well as a focus on guest experience, hotel operations and design philosophy for its largest unit outside of North America in terms of room count.
Owners have committing an estimated half-a-billion dollars in renovations of hotels across the US.
Globally, a quarter of Sheraton hotels have committed to renovations with some already underway.
Since joining Marriott International as part of the acquisition of Starwood Hotels and Resorts in September 2016, Sheraton has dropped 6,000 rooms with another 2,000 expected to go by the end of the year.
During the same period, 5,000 rooms have been signed to the portfolio.
Intent to recommend for the brand has increased two points year-over-year and market share has grown for the first time in years.
System wide, Sheraton generates $9.2 billion in property revenue globally.
Sheraton’s portfolio currently consists of nearly 450 hotels with 80 additional projects in the pipeline in 72 countries.
The brand is expected to expand to 90 countries by 2020.
Marriott International president and chief executive, Arne Sorenson, 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.”
Global brand officer Tina Edmundson 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 revitalizing lodging brands.”
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