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    Sheraton to open 20 hotels this year; 12 in China

    By SAMANTHA BOMKAMP | Associated Press – Thu, Feb 23, 2012

    NEW YORK (AP) — Starwood Hotels & Resorts Worldwide Inc. plans to open 20 Sheraton-branded hotels this year that will operate in China, the Middle East and Eastern Europe.

    The plans include 12 new hotels in China, which will bring the number of Sheratons there to 80 by 2015. Starwood expects to open its 100th hotel in China this year. About 40 percent of all future Starwood hotels in the country are expected to be run under the Sheraton name.

    Starwood's growing presence in China and other emerging markets resulted in nearly 21,000 room openings last year — the most in the Stamford, Conn., company's history.

    Later this year, the hotel chain also expects to open its largest hotel yet in the Asian gambling mecca of Macau. The Sheraton Macau will have nearly 4,000 rooms, three restaurants and 140,000 square feet of meeting space.

    When it reported fourth-quarter financial results earlier this month, Starwood said economic conditions in the developed world remain uncertain, but emerging markets continue to grow rapidly.

    Starwood will also build a fourth hotel in Saudi Arabia this year. It currently has 18 throughout the Middle East.

    Sheraton also plans to open eight new resorts this year, in several Chinese cities and other Asian locations including Bali, Indonesia.

    In North America and Europe, Starwood will convert more existing hotels to the Sheraton name, instead of building new ones.

    Besides Sheraton, Starwood operates hotels under the St. Regis, W, Westin, Le Meridien, Aloft and Element brand names. Starwood has 1,090 properties in nearly 100 countries and 154,000 employees at its owned and managed properties.

    Starwood shares fell 21 cents to $53.47 in morning trading.

     

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