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by Kaylee Hultgren | February 10, 2010

Starwood Hotels & Resorts has announced it will remove the Sheraton flag from the 665-room Sheraton Manhattan in Times Square and redevelop the property under a different Starwood brand, with the added possibility of retail and office space. Beginning in April, the company will operate the hotel as a nonbranded Starwood property. Starwood claims the hotel does not currently meet the upgraded standards of the Sheraton brand, which is finishing a $6 billion dollar overhaul. Also announced: the Sheraton New York Hotel & Towers will begin a $90 million renovation later this year.