Sheraton Hotels, in cooperation with parent company Starwood Hotels and Resorts, announced several of its flagship properties around the world will unveil $350 million in renovations.
The Sheraton New York Hotel and Towers will complete its $160 million renovation this month, where 1,780 guestrooms and suites underwent a significant expansion. The property's club lounge also saw improvements.
"As business and leisure travel continues to gain momentum, Sheraton is well positioned to meet the increased demand for high-caliber lodging with upgraded brand offerings and a line-up of freshly renovated landmark hotels in key cities across the globe," says Hoyt Harper, global brand leader for Sheraton in a press release.
The Sheraton Grand Hotel and Spa in Edinburgh, Scotland will unveil its multi-million dollar makeover this month, as well. Among the items renovated were guest rooms and 14,000 square feet of meeting and event space. A new restaurant and bar is also scheduled to open.
Other Starwood properties around the world seeing improvements are the Sheraton Mirage Resort and Spa Gold Coast in Australia, Sheraton Rio Hotel and Resort in Brazil, Sheraton Maria Isabel Hotel and Towers in Mexico City, and several hotels in China.
Sheraton's investment appears to be timed perfectly. A recent report released by the Global Business Travel Association reveals business travel is expected to hit pre-recession levels by mid 2012. The report estimates overall growth will be 4.6 percent this year.