4/14/2009

Starwood Hotels and Resorts Worldwide says its multibillion-dollar plan to revitalize its Sheraton brand is nearly 70% complete and is not being delayed, despite the slumping economy. The overhaul includes a more than $2 billion investment in new hotels, $1.3 billion for renovations and $400 million for other improvements, and much of the work is focused in North America, where the company has reported inconsistency in customer satisfaction.

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