Sheraton (Hotels)
Sheraton Hotels & Resorts is a brand of the US hotel chain Starwood Hotels & Resorts based in Stamford (Connecticut) .
history
Sheraton Hotels
The Sheraton Hotels story began in 1937 when two entrepreneurs, Ernest Henderson and Robert Lowell Moore, acquired the Stonehaven Hotel in Springfield, Massachusetts . The chain got its name from another hotel that the men bought later. This had neon letters with the word "Sheraton" on the roof, the removal of which was too costly for the two businessmen. Instead, they decided to name all of their hotels that way.
In 1945, Sheraton was the first hotel chain to be listed on the New York Stock Exchange .
Sheraton expanded in 1949 with the acquisition of two Canadian hotel chains and expanded its operations within North America. In the 1960s, the first Sheraton hotels outside the United States and Canada were added with the opening of the Sheraton Tel Aviv in 1961 and the Sheraton Macuto in Venezuela in 1963. In 1965 Sheraton opened its 100th hotel.
ITT Sheraton
In 1968, after being acquired by the multinational ITT conglomerate, Sheraton was run as ITT Sheraton .
In 1985, Sheraton was the first western company to take over a hotel in the People's Republic of China , the Great Wall Hotel .
In the 1990s, Sheraton began to split into more specific brands. Most of the hotels that were previously Sheraton Inns were gradually transferred to the new Four Points by Sheraton brand .
In 1994 the chain acquired a majority stake in the Italian chain CIGA, Compagnia Italiana Grandi Alberghi (German: 'Italian Grand Hotel Society'). Sheraton initially ran these hotels under its own name in Italy, later expanding throughout Europe. Most of these hotels are now combined to form The Luxury Collection .
Starwood Hotels
In 1998, Sheraton and its sister brands were acquired by Starwood Hotels . Sheraton later introduced a fourth brand under Starwood, St. Regis Hotels & Resorts , named after the famous St. Regis Hotel on Fifth Avenue in New York, a former Sheraton. This hotel and the former Sheraton Carlton in Washington, DC were the first two hotels in the new chain.
In addition, the ArabellaStarwood Hotels & Resorts brand was founded as ArabellaSheraton Hotelmanagement GmbH , a joint venture between Arabella International GmbH & Co. KG ( Schörghuber Group ) (51 percent) and Starwood Hotels & Resorts Worldwide Inc. (49 percent). After the extension of the joint venture agreement between Starwood and the Schörghuber group of companies, the sub-brand ArabellaSheraton was given up and the existing houses were renamed. Most recently, this was the case with the ArabellaSheraton Grand Hotel Frankfurt (now The Westin Grand Frankfurt ) and the ArabellaSheraton Grand Hotel Munich (now The Westin Grand Munich ).
