In the midst of an $8 billion growth spurt, Sheraton will open 38 newly constructed hotels in the next 12 months, mainly focused in such emerging markets as China, Iraq, Russia, Tajikistan and Kazakhstan.
The robust schedule of openings indicates the hotel chain is "cautiously optimistic" about growth in the global economy, said Hoyt Harper, senior vice president and global brand leader at Starwood's Sheraton properties.
The June opening in Dohuk will mark Sheraton's first hotel in Iraq since it left in 1990, according a spokesman for Sheraton.
The opening of the 202-room Sheraton Dohuk Hotel will make it one of the first international hotel brands to return to the country. Located in the Kurdistan region near the border with Turkey, the hotel will feature meeting and event space, three ballrooms and a spa.
Last year, Wyndham opened the Ramada Sulaymaniyah Salim Street hotel in Kurdistan and Abu Dhabi-based Cristal Hotels & Resorts opened its Cristal Grand Ishtar Hotel in Baghdad.
Other chains have plans, including Hyatt's Hyatt Regency Sulaymaniyah and Hilton's DoubleTree planned for Erbil, both cities in Kurdistan. Best Western Premier plans to open its Erbil Airport Hotel, making it the "first airport hotel in Iraq history," according to the property's Facebook page. Starwood's Aloft brand has also announced plans for Erbil. And Sheraton has plans for three more Iraq hotels, Harper said.
(Read more: Hotel construction in post-recession boom phase)
"We see opportunity on both sides of the Turkish border," Harper told CNBC. "There has been considerable commercial growth as things normalize, if you will. ... We have unique business opportunity in the market. It's primarily to support the commerce that's going on, to support the business traveler."