Starwood’s expansion in China is continuing at a rapid pace, with the chain set to open three more Sheraton properties in the country before the end of January.
The all-new Sheraton Jiangyin Hotel
The first to open is Sheraton Wenzhou Hotel on December 28, 2010 followed by Sheraton Jiangyin Hotel on December 31, 2010 and Sheraton Shanghai Hongkou Hotel on January 15, 2011.
With the addition of these three new hotels, Sheraton will boast a portfolio of 35 hotels in Greater China, with another 29 in the pipeline.
“China is now Starwood’s second largest hotel market outside the United States and our iconic Sheraton brand is leading the charge, accounting for more than half of all Starwood hotels opening across this vast, dynamic country,” said Starwood’s President of Global Development, Simon Turner.
“Sheraton has rapidly built a footprint not only in well-known cities such as Beijing and Shanghai, but also in many emerging urban centres. And demand continues to outpace supply in China, where there are 171 cities with a population of more than a million people,” he said.
Starwood’s largest brand, Sheraton boasts a current portfolio of 400 hotels in 75 countries and following the recent completion of its USD$6 billion revitalisation campaign, Sheraton is now investing another USD$5 billion to add approximately 35 new hotels to its portfolio by the end of 2013. Half of the new Sheraton hotels will open in China.
“Sheraton was the first international branded hotel to open in China 25 years ago with the landmark debut of Great Wall Sheraton Hotel in Beijing, and we’ve never looked back,” said, Sheraton Hotels and Resorts’ global brand leader, Hoyt Harper.
“By leveraging its first mover advantage, Sheraton has become one of China’s most popular global brands. As a result, Starwood has a significantly larger footprint in China than any of its competitors.”
Starwood’s Asia-Pacific Chairman and President, Miguel Ko, added: “Sheraton is a formidable player with a long-standing history in China’s hotel market.
“China is on track to become the world’s largest tourism market by 2015 and is already our second largest market for Starwood Preferred Guest. As the Chinese pick up their pace of travel, they are going to stay with the brands they know and love, setting the stage for significant growth across all of our brands,” he said.