NEW YORK — Starwood Hotels & Resorts Worldwide, Inc. is introducing Sheraton 2020, a comprehensive 10-point plan designed to put Sheraton Hotels and Resorts firmly back into the global spotlight.

Introduced at the 37th annual NYU International Hospitality Industry Investment Conference, Sheraton 2020 is a five-year plan that includes a new $100 million Sheraton-focused marketing campaign; the launch of the new premier tier, Sheraton Grand; continuous innovation of the Sheraton guest experience; an unwavering commitment to service excellence; the implementation of revenue and profit-driving initiatives to benefit owners and developers; and a goal of opening more than 150 new Sheraton hotels worldwide by 2020.

“Sheraton is Starwood’s largest, and most global brand, with a nearly 80-year history as a pioneer and true beacon of hospitality around the world,” said Adam Aron, Starwood CEO on an interim basis. “With Sheraton 2020, we are marshalling the formidable might, muscle and creativity of our organization, which has famously distinguished itself as the industry’s premier brand builder and innovator. This is a top priority, and we will act boldly to put Sheraton back on its rightful pedestal as a global hotel brand of choice, everywhere.”

According to Dave Marr, Global Brand Leader for Sheraton, work is well underway on Sheraton 2020 with initiatives scheduled to roll out as soon as June and a new brand positioning and global advertising campaign launching in September of this year. “Sheraton 2020 was created with an eye toward maximizing value for owners’ assets, and we thought it was important to share our plans first with them while at the NYU Hospitality Conference,” said Marr. “Our teams around the world are already hard at work to swiftly and consistently execute against this action plan.”