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Article: ITT Sheraton Announces 28 Hotels, Expanding in 10 Countries; Signs 18 Four Points Hotels and 10 Sheraton Hotels & Resorts
- Article from:
- PR Newswire
- Article date:
- February 27, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BOSTON, Feb. 27 /PRNewswire/ -- ITT Sheraton, a wholly owned subsidiary of ITT Corporation (NYSE: ITT), today announced the addition of 28 hotels with over 7,000 rooms in 10 countries. The new hotels include 18 Four Points Hotels in the U.S., Canada, and Israel, and 10 Sheraton Hotels & Resorts in Argentina, Canada, China, Finland, Israel, Malaysia, Mexico, The Philippine Islands, and Vietnam. Included are recently completed management contracts and franchise agreements for 27 hotels and the acquisition of a hotel in Monterrey, Mexico for a $15 million equity investment. ITT Sheraton said that the transactions are immediately accretive and will generate significant ...