Sheraton Moves Into Eastern Argentina
PUERTO MADRYN, Argentina, August 23, 2006. Sheraton, run by U.S. hotel and leisure company Starwood is to open a new five-star hotel, to be located in Puerto Madryn, eastern Argentina.
The announcement was made by the local municipal authorities. The hotel, which will be the chain's first in the area, will have 100 rooms and will require an investment of some $10 mln (7.76 mln euro).
The hotel is part of Starwood's expansion in Argentina, which also includes the opening of a hotel in Mendoza, western Argentina.
Sheraton, established in 1937, was bought by Starwood Hotels & Resorts Worldwide in 1998. Sheraton, Starwood's largest brand, operates over 400 hotels in more than 70 countries worldwide.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
