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Sheraton Hotels and Resorts is an American international hotel chain owned by Marriott International.As of June 30, 2020, Sheraton operates 446 hotels with 155,617 rooms globally, including locations in North America, Africa, Asia Pacific, Central and South America, Europe, the Middle East and the Caribbean, in addition to 84 hotels with 23,092 rooms in the pipeline.
In April 1995, ITT Sheraton introduced the Four Points by Sheraton brand, to replace the designation of certain hotels as Sheraton Inns. During the early 2000s, this mid-scale, moderate-rate, full-service hotel brand operated around 135 properties, across about 15 countries, but primarily in the US. [3] [4] In 1998, Starwood acquired ITT ...
In February 1994, ITT Sheraton acquired a controlling interest in CIGA (Compagnia Italiana Grandi Alberghi, or Italian Grand Hotels Company), an Italian international hotel chain which owned several luxury properties in Europe. [21] The majority of the CIGA hotels were folded into The Luxury Collection.
In 1997, Starwood Hotels and Resorts acquired Sheraton from ITT. [4]The St. Regis brand was launched in 1998, [5] when Starwood rebranded a former Ritz-Carlton property it had bought in Aspen, Colorado as The St. Regis Aspen. [6]
ITT has over 10,000 employees in more than 35 countries and serves customers in more than 100 countries. The company's long-standing brands include Goulds Pumps, Cannon connectors, KONI shock absorbers and Enidine energy absorption components. [4] The company was founded in 1920 as International Telephone & Telegraph.
In this book, Sobel concentrates on the history of ITT Corporation, one of the world's largest conglomerates.Back in the 1970s and 80s, the corporation acquired many various businesses—from a financial services companies to the famous Sheraton Hotels and Resorts (in those years known as ITT Sheraton), sometimes doing 20 deals a month.