Expansion of Sheraton Seattle Hotel & Towers Expected to Boost Downtown Economy

A Rising Tide Lifts All Boats

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. October 14, 2008

SEATTLE, WA, October 31, 2005. The Sheraton Seattle Hotel & Towers $112 million expansion project, now in its third month, represents a key step in Seattle's evolution as a meeting, convention and business destination.

In 2004, the impact of large meetings and conventions in the Seattle market was a record $432 million, yet Seattle's Convention and Visitors Bureau has cited the lack of a 1,000 room headquarters hotel as a major reason the city is at a competitive disadvantage with other major U.S. cities when competing for convention sales.

The Sheraton's expansion will build on Seattle's growing popularity as a destination for the conventions and meetings travel segment. The city has a hard-earned reputation as a center of arts and culture, cuisine, natural beauty, and technology: the downtown district offers visitors easy walking access to retailers, theatre, music venues, renowned restaurants, and the city's new Rem Koolhaas-designed library. Proximity to the Seattle-Tacoma International Airport also makes the city a convenient destination for domestic and international travelers.

The Sheraton's expansion project, which includes the creation of the 25-story Union Street Tower, will give Seattle its first 1,000+ room hotel (1,253 total), a development that will enable the city to accommodate more and larger events, meetings and conventions. The growth in the meetings market is a priority for Seattle, as it accounts for more than 55 percent of the city's downtown hotel occupancy, plus convention delegates typically spend nearly twice as much as leisure or business travelers on hotels, restaurants and shopping (Source: Seattle's Convention and Visitors Bureau 2005 Marketing Plan).

Don Welsh, president and CEO of Seattle's Convention and Visitors Bureau, said, "The expansion of the Sheraton Seattle is a major milestone in Seattle's development as a premier convention, business and leisure travel destination. This new addition provides us the opportunity to pursue larger convention groups that have not been able to meet in Seattle in the past due to the fact that they require a 1,000-room headquarters hotel."

In addition to the positive impact on the city's ability to attract meetings business, the hotel's growth also has positive implications for the community. Over the past several years, the Sheraton Seattle has strategically partnered with over 25 prominent community groups and organizations to host fundraising events and donate and procure auction packages that have helped raise millions of dollars. Such groups are expected to benefit from the increased meeting space produced by the expansion - 31,000 square feet will be added, bringing Sheraton's total number of meeting rooms to 47.

"This hotel has an exemplary record as an employer, as a leader in the community and as a driver to the economy," said Terry Botten, general manager of the Sheraton Seattle. "The impact of this development will benefit each of these aspects of the Sheraton's service."