Sheraton Manhattan to be renovated, rebranded

Starwood Hotels and Resorts is giving its 665-room Sheraton Manhattan hotel a facelift, part of a large-scale effort to makeover the company’s Sheraton brand. The mid-priced hotel, on Seventh Avenue between West 51st and 52nd streets, will ditch the Sheraton name in April — the new name has yet to be disclosed — and be redeveloped, possibly including a retail and office component, Starwood said today. In its rebranding, the hotel is following in the footsteps of its slightly less modestly-priced sibling, the Sheraton New York Hotel & Towers across the street, which has a $90 million renovation planned for this year. Both upgrades are part of a $6 billion investment in Sheraton hotels across the country, which Starwood began three years ago in an attempt to tackle the perception of the brand as dull and old-fashioned. Starwood has rebranded 32 hotels under the initiative thus far, though the Sheraton Manhattan and Sheraton New York are the first in the city to undergo upgrades. Starwood operates 13 hotels in New York City and is opening six more in 2010, three of which will be Sheraton properties. [Crain’s]