by Michael J. Shapiro | June 01, 2015
Starwood Hotels & Resorts introduced Sheraton 2020, a comprehensive revitalization plan for the brand, at the NYU International Hospitality Industry Investment Conference today. The five-year, 10-point plan includes the launch of Sheraton Grand, a higher level of the flag that will rebrand more than 100 of Sheraton's best properties under the new name. "This is a top priority," noted Starwood interim CEO Adam Aron, "and we will act boldly to put Sheraton back on its rightful pedestal as a global hotel brand of choice, everywhere.” Sheraton is Starwood's largest, most global brand. The other points of the plan include: new brand positioning, including a new visual identity; a $100 million marketing campaign that will launch in September and continue through 2017; a reevaluation of brand standards and fee structures, with the goals of earning owners' confidence and improving their revenues and profits; getting buy-in from all hotel employees by enlisting general managers to lead the change; improving service levels at all properties; regaining group share and targeting meeting/event planners; making food-and-beverage outlets more relevant and profitable; an update of public-space and guest-room design, and opening more than 150 new Sheraton properties in the next five years. Many of the initiatives are under way and will begin rolling out this month.