Marriott International recently shed light on its extensive action plan for its Sheraton Hotels and Resorts brand.
Following the introduction of its new Sheraton guestroom late last year, the hospitality expert is revealing its vision for Sheraton’s public spaces at the NYU International Hospitality Industry Investment Conference in New York, bringing to life the company’s brand strategy and its signature focus on guest experience, hotel operations and design for both owners and investors.
President and CEO, Marriott International, Arne Sorenson commented: “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.”
Sorenson continued: “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.”
Following the unveiling of its vision, owners have been responding enthusiastically with approximately half-a-billion dollars’ worth of renovations in line for hotels across the US. On a global scale, 25 per cent of Sheraton hotels have committed to renovations, with some already underway.
At the NYU International Hospitality Industry Investment Conference, Sheraton Hotels and Resorts has built an impressively large vignette, which mirrors its vision and highlights the concepts for public spaces. Reverting to its roots as the gathering place for locals and guests, Sheraton today amplifies that legacy by leaning into services and design elements that encourage socialising, productivity and personalisation. Its vision entails collaborative venues, technology enabled designs and a host who helps deliver a unique experience that is exclusive to Sheraton.
Global brand officer, Marriott International, Tina Edmundson declared: “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.”
Since joining Marriott International as part of the acquisition of Starwood Hotels and Resorts in September 2016, Sheraton has exited 6,000 rooms with another 2,000 expected to depart 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 reportedly increased two points year-on-year, while market share has increased for the first time in years.
The Sheraton brand generates $9.2 billion in property revenue globally and its portfolio comprises nearly 450 open hotels with 80 pipeline projects spanning 72 countries and territories. By the year 2020, it is expected to expand to 90 countries.