The franchisee will establish and operate a Luxury Collection hotel or resort under a franchise agreement with The Sheraton LLC.
The Sheraton LLC is a limited liability company organized under the laws of the State of Delaware in 2006. They were incorporated on June 10, 1974 under the name The Sheraton Corporation. On October 24, 1989, they changed their name to ITT Sheraton Corporation. On December 31, 1999, they changed their name to The Sheraton Corporation, and on April 10, 2006, they changed their name and organizational form to The Sheraton LLC. They are a wholly-owned subsidiary of Starwood Hotels & Resorts Worldwide, LLC, f/k/a Starwood Hotels and Resorts, Inc. Maryland. Their principal business address is 10400 Fernwood Road, Bethesda, Maryland 20817. On September 23, 2016, Starwood was acquired by and became a wholly owned subsidiary of Marriott International, Inc.
The total investment necessary to begin operation of a 250 guest room conversion Luxury Collection Hotel franchise is approximately $1,659,600 to $36,468,000, which includes $355,600 to $591,500 that must be paid to the franchisor or its affiliates. The total investment necessary to begin operation of a 250 guest room new build Luxury Collection Hotel franchise is approximately $71,004,600 to $103,233,000, which includes approximately $335,600 to $571,500 that must be paid to the franchisor or its affiliates. These sums do not include any costs for real estate.
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