Who Owns Sheraton?

Renowned for their excellent dining experience, comfortable and luxurious rooms, and exquisite amenities, the Sheraton Hotel and Resort chain is a globally reputed international hoteling franchise with a deep and very interesting history.

So, who owns Sheraton? Well, the hotel was first founded by Ernest Henderson and Robert Moore 87 years ago, in 1937. In light of this, let’s take a deep dive into the brand’s history and how it achieved its legendary status.

Henderson and Moore established the Sheraton brand via Standard Equities Corporation, a highly reputed real estate acquisition, investment, and asset management organization. The founders coined the name “Sheraton” after they acquired their third hotel and put up a giant, lighted logo, reading “Sheraton Hotel”.

Sheraton is an English term dating back to the 1800s. It was used to define a specific type of furniture style that comprised beautiful straight lines and intrinsic ornamentation.

Since its launch, Sheraton has experienced a phenomenal growth in popularity and recognition, becoming a sought-after 5-star haven for travelers from all over the world. Today, the brand has a total of 446 hotel chains with a combined room total of 155,617 rooms spread across 75 countries throughout the globe.  

A Look Into The Incredible History of The Sheraton Hotel

After merging the International Equities Corporation with Standard Investing Corporation in 1937, an excellent business strategy by Henderson and Moore, the founders successfully created a vertically-integrated organization that would manage the hotel’s lodging properties.  

In the very same year, they also acquired the Stonehaven Hotel in Massachusetts, which was essentially a renovated apartment complex. Henderson and Moore decided to transform the apartment building into another branch of Sheraton. It was a very unique and one-of-a-kind hospitality lodging at the time. 

In 1941, the founders then proceeded to acquire the acclaimed Copley Plaza Hotel in an aggressive yet calculated effort to quickly expand their hoteling empire. They would go to launch several Sheraton hotel chains all across the East Coast. As a result, Sheraton became the very first hotel company to have a stock listing on the NYSE (New York Stock Exchange) in 1945.

1949 was the year Henderson and Moore decided to venture into North America. They bought two notable hotel chains in Canada. In 1956, they acquired the largest hotel chain (privately-held) in the US – the Eppley Hotel Company. The acquisition cost $30 million. In 1959, the hoteling moguls would then buy four more popular hotel chains located in Hawaii, called the Matson Lines.

When it comes to who owns Sheraton, the founders decided to venture outside of the US and North America, opening a chain of hotels in Tel Aviv, Israel in 1961, and then in 1963, another Sheraton chain was launched in Caracas, Venezuela. Two years after that, the founders established their 100th hotel lodgings in Boston.

In 1985, Sheraton also became the first Western brand to establish a 5-star hotel in China. What’s also interesting to know is that Sheraton was also given the management of the Great Wall of China, which is the reason why the hotel in China was named the “Great Wall Sheraton”.

Change of Ownership (Pre-Marriott Acquisition)

The Acquisition of Sheraton By The ITT

Sheraton was acquired by the ITT Corporation, which is a global conglomerate, in 1968. After the takeover, the hotel was rebranded as “ITT Sheraton”. After the new stakeholders of Sheraton, the company went through a significant yet strategic change in executive management and ownership.

Under ITT management, a new business model came to fruition with an emphasis on investing in methodological franchising instead, of moving away from the traditional ownership model. However, one pretty innovative development accredited to the ITT was the launch of the ITT Sheraton Luxury Collection in 1992. 

The company essentially categorized some of its most luxurious and well-known franchises and towers, providing customers with top-notch and affluent experiences and amenities, not available in other Sheraton chains. This collection includes renowned Sheraton lodgings, namely The St. Regis in NYC, which further propelled and cemented the brand’s reputation and position in the primo hotel industry.

The Acquisition of ITT Sheraton By Starwood Hotels and Resorts

When you talk about who owns Sheraton, it is also important to know that the company went through another acquisition deal. In 1998, ITT Sheraton was bought by Starwood Hotels, another reputed and popular hotel chain in the US. The company acquired ITT Sheraton in a $13.3 billion deal, comfortably outbidding another US-based hotel competitor – Hilton.

The Starwood acquisition propelled Sheraton on a new journey, as it yet again, was subject to a methodical rebranding under the executive leadership of the Starwood. As a result, Sheraton hotels and resorts were ambitiously renovated, comprising a more futuristic and aesthetically pleasing design concepts and architecture.

In addition, the Starwood acquisition was also responsible for taking the brand global, enabling it to consistently evolve and revolutionize its massive footprint. Several Sheraton hotel chains were launched all across the globe. Another equally notable achievement of this acquisition was the launch of the “Sheraton Grand” in 2015, which represented some of Sheraton’s more exclusive and upscale lodgings both in city and resort settings.

Marriott International Acquires Sheraton Hotels and Resorts

In 2016, Sheraton experienced a third acquisition. It was bought by Marriott International. The move helped the conglomerate cement its brand reputation and position in the market as being the largest resort and hotel organization across the globe. It became the most exclusive and iconic hospitality company in modern history, continuously propelling its worldwide footprint. 

When it comes to understanding who owns Sheraton, it is also equally important to note that during the Sherwood ownership, the brand began to experience a slight reputational decline mainly because of a lack of renovation. Quite simply, the buildings weren’t aging well.

This is when Marriott took over and completely revitalized a string of hotels and resorts across the US, giving the portfolio of hotel locations a powerful face lift while simultaneously propelling the quality of services, adding more amenities, and restoring the Sheraton brand’s luxury status. 

In addition, the transformation efforts by Marriott International also included launching a modern logo design in 2019, signifying its propulsion into the new era. Not to mention, the new executive management laid out detailed renovation plans, comprehensively restoring multiple properties with futuristic amenities, contemporary furniture design, and relatively bigger rooms.

Optimizing the Modern Customer Experience

Marriott’s takeover of Sheraton was also marked by its dedication to not just improve how Sheraton hotels looked aesthetically, but also by a significant improvement in its customer services. Today, these hotels are renowned for their exquisite and deeply customer-oriented policies, personalized guest services, and the implementation of amenities suited for all types of travelers. 

From avant-garde wellness and fitness centers to incredible internet speeds, and highly intuitive technology, Sheraton hotels and resorts now comprise an excellent blend of visual brilliance and technological advancements.

A Bright and Flourishing Future

When knowing who owns Sheraton, it is safe to say that the new era more than adequately highlights a commitment to excellence, modern technology, transcendent customer experiences, and continuous worldwide growth.

The brand has come a long way in eight decades thanks to its perseverance and willingness to adapt to the changing demands and preferences of its guests.

 References & more information

1. Devex.com. Sheraton Hotels & Resorts.
2. S. (2023). Is Sheraton Owned By Marriott? Unpacking Their Relationship.
3. Reference For Business. ITT SHERATON CORPORATION – Company profile, information, business description, history, background information on ITT Sheraton corporation.
4. com. Business: Who Owns Sheraton? – Sheraton Company History
5. Featured image by Rajan Shrestha

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