Last Updated on July 31, 2026 by Daniel Globe
Sheraton Hotels & Resorts is one of the best-known names in global hospitality, but its ownership structure is often misunderstood. Marriott International owns and controls the Sheraton brand. That does not mean Marriott owns the land and building behind every Sheraton hotel, because many individual properties belong to separate hotel owners.
Quick Answer
Marriott International owns the Sheraton Hotels & Resorts brand. It gained Sheraton when it completed its acquisition of Starwood Hotels & Resorts on September 23, 2016. However, Marriott does not necessarily own each hotel building. Many Sheraton properties are owned by third parties and are managed by Marriott or operated under franchise agreements.
Key Takeaways
- Marriott International owns and controls the Sheraton Hotels & Resorts brand.
- Sheraton became part of Marriott when Marriott completed its acquisition of Starwood Hotels & Resorts in 2016.
- An individual Sheraton building may be owned by an independent company, institutional investor, or other property owner.
- Sheraton hotels use a mix of franchise and Marriott-management arrangements rather than one universal ownership model.
- Marriott reported 436 Sheraton properties and 147,958 rooms at year-end 2025.
- Sheraton participates in Marriott Bonvoy, although benefits such as breakfast, lounge access, and late checkout depend on status and property rules.
Who Owns Sheraton Hotels?
Marriott International owns the Sheraton Hotels & Resorts brand. Marriott controls the brand name, standards, reservation systems, marketing platform, loyalty participation, and requirements that hotels must follow when operating as Sheraton properties.
Ownership becomes more complex at the property level. Three different parties may be involved in a Sheraton hotel:
- Brand owner: Marriott International owns and licenses the Sheraton name and operating system.
- Real-estate owner: A separate company may own the hotel building, land, furniture, and other physical assets.
- Hotel operator: Marriott may manage the property for its owner, or an approved independent operator may run it under a franchise agreement.
Marriott owns the Sheraton brand, but it does not necessarily own the land or building behind every Sheraton hotel.
Note: Marriott reports that it owns or leases less than 1% of its entire hotel system. That figure applies across Marriott’s full portfolio and is not a Sheraton-only percentage, but it illustrates the company’s largely asset-light business model.
Sheraton Ownership at a Glance
Ownership at a Glance
| Sheraton brand owner | Marriott International |
| How Marriott acquired it | Through Marriott’s acquisition of Starwood Hotels & Resorts, completed September 23, 2016 |
| Property count | 436 properties at year-end 2025 |
| Room count | 147,958 rooms at year-end 2025 |
| Global presence | More than 70 countries |
| Operating structure | A mix of Marriott-managed and franchised properties, often owned by third parties |
| Loyalty program | Marriott Bonvoy |
The property and room totals come from Marriott International’s 2025 Form 10-K. Hotel totals can change as properties open, close, convert to another brand, or leave the Marriott system.
History of Sheraton Hotels
Sheraton’s history began in 1937, when Ernest Henderson and Robert Moore acquired their first hotel in Springfield, Massachusetts. According to Sheraton’s official history, the founders expanded by purchasing additional hotels and placing them under a common brand.
- 1937: Henderson and Moore acquired their first hotel in Springfield, Massachusetts.
- 1947: Sheraton Corporation of America became the first hotel chain listed on the New York Stock Exchange.
- 1958: Sheraton introduced Reservatron, an early centralized electronic reservation system.
- 1960s: The company expanded into additional international markets.
- 1965: Sheraton opened its 100th hotel.
- 1985: Sheraton became the first international hotel chain to operate a hotel in the People’s Republic of China.
- 2016: Sheraton entered Marriott International’s portfolio through the acquisition of Starwood Hotels & Resorts.
These milestones helped Sheraton develop from a regional hotel company into an international full-service brand. Its early emphasis on centralized reservations and consistent brand recognition also anticipated operating practices now used across major hotel groups.
Acquisition by Marriott International
Marriott completed its acquisition of Starwood Hotels & Resorts on September 23, 2016. Because Sheraton was part of Starwood’s portfolio, control of the Sheraton brand transferred to Marriott as part of the transaction.
The transaction was valued at approximately $13.6 billion under the revised terms announced before closing, excluding Starwood’s timeshare business. The completed acquisition combined Marriott and Starwood’s hotel brands, reservation reach, development network, and loyalty operations.
The acquisition did not mean that Marriott purchased the physical real estate of every Sheraton hotel. It acquired the parent hotel company and its brand system. Existing hotel owners continued to own many individual properties under management or franchise agreements.
Official transaction details are available in Marriott’s September 23, 2016 acquisition announcement and the revised transaction terms.
Branding and Marketing Strategy
Sheraton has historically positioned itself as a full-service hotel brand serving business travelers, groups, meetings, and leisure guests. Under Marriott, the brand’s current design direction focuses heavily on public spaces that can support working, dining, meeting, and social interaction.
The official Sheraton website highlights several concepts used in redesigned properties:
- Public Space: Flexible lobby areas intended for working, meeting, dining, and relaxing.
- Community Table: Shared seating with access to power and other work-friendly features.
- &More by Sheraton: A combined bar, coffee, and food concept used at participating hotels.
- Booths and Studios: More private spaces for calls, meetings, or small-group work.
- Updated guestrooms: Redesigned rooms intended to support rest and practical work needs.
These features represent the brand’s broader direction, but they are not identical at every Sheraton. Individual hotels differ by market, building design, renovation stage, and owner investment.
Pro Tip: Before booking, review the individual hotel’s current photos, room descriptions, renovation notices, lounge information, and amenity list. The Sheraton name identifies the brand, but the age and design of each property can vary.
Integration of Sheraton into Marriott’s Portfolio
Bringing Sheraton into Marriott involved more than changing the name of its parent company. The brand was connected to Marriott’s reservation, distribution, marketing, technology, development, and loyalty systems.
Important areas of integration include:
- Reservations and distribution: Sheraton properties can be searched and booked through Marriott’s websites, apps, and global distribution channels.
- Loyalty: Eligible Sheraton stays earn Marriott Bonvoy credit and points under the program’s current rules.
- Brand standards: Hotels must meet Sheraton requirements relating to service, design, safety, technology, and guest experience.
- Development: Marriott works with property owners and developers that want to build, convert, or renovate hotels under the Sheraton name.
- Sales and marketing: Sheraton benefits from Marriott’s broader corporate, group, meeting, and leisure-sales network.
There is no reliable basis for describing the entire process as having been “completed in 2022.” Loyalty and reservation integration occurred on a different timeline from physical renovations. Property upgrades remain dependent on each hotel’s ownership, agreements, market, and renovation schedule.
Renovations and Brand Transformation
Sheraton’s transformation program is intended to update the brand while preserving its role as a large, internationally recognized full-service hotel network. Renovated properties may receive redesigned lobbies, guestrooms, dining areas, meeting spaces, work areas, and technology.
The program places particular emphasis on the lobby as a shared space rather than only a passage between the entrance and guestrooms. Participating hotels may include communal worktables, enclosed booths, reservable studios, food and beverage service, and flexible seating.
However, Sheraton’s portfolio includes hundreds of hotels of different ages and ownership structures. Renovation timing is therefore not uniform. A newly transformed Sheraton may look substantially different from a property that has not yet completed a major update.
Note: Brand-wide marketing images do not guarantee that every Sheraton has the same guestrooms, lounge, pool, restaurant, meeting facilities, or redesigned lobby. Verify amenities on the page for the specific hotel you plan to visit.
Marriott Bonvoy Benefits at Sheraton
Sheraton participates in Marriott Bonvoy. Members can generally earn points and eligible-night credit on qualifying stays booked through eligible channels. Points may be redeemed for award stays and other options under the program’s current terms.
General member benefits
Benefits available to standard members commonly include:
- Member rates on qualifying bookings
- Complimentary standard in-room Wi-Fi at participating hotels
- Mobile check-in and other app features where available
- The ability to earn points and qualifying-night credit on eligible stays
Elite benefits depend on status and hotel rules
Higher-tier members may qualify for benefits such as bonus points, room upgrades, late checkout, a welcome gift, breakfast, or lounge access. These benefits are not automatic for every member or every stay. Eligibility can depend on:
- The member’s elite tier
- The hotel’s lounge and food-service setup
- Availability at the time of the stay
- The room rate and booking channel
- Brand-specific and regional program rules
- Whether the property participates in the relevant benefit
Note: Booking through an unsupported third-party channel can affect eligibility for points, qualifying nights, and elite benefits. Check the current Marriott Bonvoy terms before relying on a particular benefit.
How Sheraton Hotels Are Owned and Operated
The Sheraton system can include several ownership and operating arrangements.
Franchised Sheraton hotels
In a franchise arrangement, a third-party company owns or leases the hotel and receives permission to use the Sheraton name, reservation platform, standards, and related systems. The owner pays required fees and is responsible for operating the property according to the franchise agreement.
The day-to-day operator may be the owner itself or a separate hotel-management company approved under the applicable agreement.
Marriott-managed Sheraton hotels
In a management arrangement, a third party usually owns the hotel while Marriott operates it on the owner’s behalf. Marriott may provide the general manager, staffing systems, operating procedures, sales support, and other management services in exchange for management fees.
Owned or leased hotels
Marriott directly owns or leases only a small portion of its overall hotel system. Its 2025 annual filing states that owned or leased properties account for less than 1% of the company’s entire system. Marriott does not publish that percentage as a Sheraton-specific figure.
This structure allows Marriott to expand its brands without purchasing the real estate behind every hotel. It also means that the financial owner of a particular Sheraton may be different from both Marriott and the company operating the hotel.
Can You Invest in a Sheraton Hotel?
You cannot buy stock in Sheraton as a separate public company because Sheraton is a Marriott brand, not an independently traded corporation. Buying shares of Marriott International provides indirect exposure to Marriott’s complete business, including Sheraton, but it does not give the investor ownership of a specific Sheraton hotel.
Direct participation in a Sheraton property is more complex. A prospective hotel owner or developer would typically need:
- A suitable site or existing hotel
- Substantial development, acquisition, or renovation capital
- Approval from Marriott
- A franchise or management agreement
- Compliance with Sheraton’s design and operating standards
- Funding for furniture, technology, staffing, marketing, and ongoing fees
Some individual Sheraton properties may also be owned by publicly traded hotel companies, real-estate investment trusts, private funds, or local ownership groups. In those situations, an investment in the property owner is separate from ownership of the Sheraton brand.
Note: Hotel development and securities investing involve significant financial and legal risk. Prospective investors should review the relevant offering documents, franchise terms, management contracts, financing obligations, and professional advice rather than treating a Sheraton affiliation as a guarantee of returns.
Expansion and Future Plans
Sheraton remains one of Marriott’s larger individual brands. Marriott reported 436 Sheraton properties and 147,958 rooms at year-end 2025, while Sheraton’s brand website describes a presence in more than 70 countries.
Future changes to the network can come from several sources:
- Construction of new Sheraton hotels
- Conversion of existing independent hotels or other branded properties
- Renovation of current Sheraton properties
- Hotels leaving the brand when agreements end or standards are not maintained
- Changes in ownership or management that do not change the Sheraton brand name
Because development plans and contract status can change, current Marriott filings and individual hotel announcements are more reliable than an undated statement that the brand is expanding in a particular region.
Impact on the Hospitality Industry
Marriott’s acquisition of Starwood created a larger hotel network with more brands, locations, owners, loyalty members, and distribution reach. For Sheraton, joining Marriott provided access to Marriott’s reservation platform, development network, sales resources, and Marriott Bonvoy program.
The arrangement also illustrates a central feature of the modern hotel industry: the name on the building does not always identify the building’s owner. Large hotel companies often grow by licensing brands and managing properties for outside owners rather than buying every hotel themselves.
This model can create broad global reach and shared loyalty benefits. At the same time, guest experience can still vary because individual buildings have different owners, renovation histories, layouts, local management teams, and available amenities.
Conclusion
Marriott International owns the Sheraton Hotels & Resorts brand after acquiring Starwood Hotels & Resorts in 2016. However, many Sheraton buildings are owned by separate companies and operate through franchise or management agreements.
That distinction explains why Sheraton hotels share a name, reservation platform, loyalty program, and brand standards while still differing in design, age, renovation status, amenities, and ownership. Travelers should review the details of the specific property they plan to book, while prospective investors should evaluate the actual hotel owner and contract structure rather than relying on the Sheraton name alone.
Frequently Asked Questions
Who owns Sheraton Hotels?
Marriott International owns and controls the Sheraton Hotels & Resorts brand. Sheraton entered Marriott’s portfolio when Marriott completed its acquisition of Starwood Hotels & Resorts in September 2016.
Does Marriott own every Sheraton hotel building?
No. Marriott owns the Sheraton brand, but many individual hotel buildings are owned by separate companies, investors, or hotel ownership groups. Marriott may manage a property for its owner, or the hotel may operate under a franchise agreement.
Is Sheraton a franchise?
Some Sheraton hotels are franchised, but the entire brand does not use one operating arrangement. Other Sheraton properties are operated by Marriott under management agreements, while only a small portion of Marriott’s overall hotel system is owned or leased directly.
How many Sheraton hotels are there?
Marriott reported 436 Sheraton properties with 147,958 rooms at year-end 2025. The number can change as hotels open, close, convert, or leave the brand.
Is Sheraton part of Marriott Bonvoy?
Yes. Eligible stays at participating Sheraton hotels can earn Marriott Bonvoy points and qualifying-night credit. Members can also redeem points at participating Sheraton properties under the program’s current rules.
Do all Marriott Bonvoy members receive breakfast and lounge access at Sheraton?
No. Breakfast, lounge access, late checkout, upgrades, and similar benefits may depend on the member’s elite tier, the property’s facilities, availability, regional rules, and the qualifying nature of the booking.
What amenities do Sheraton hotels offer?
Common features may include full-service dining, meeting rooms, fitness facilities, business-friendly work areas, room service, event space, and Marriott Bonvoy participation. Pools, spas, club lounges, airport transportation, and other amenities vary by property.
Can I invest in a Sheraton hotel?
A person may be able to develop, acquire, or invest in a company that owns a Sheraton property, subject to financing, Marriott approval, and contractual requirements. Sheraton itself is not separately traded. Marriott International shares provide exposure to Marriott’s overall business rather than direct ownership of one hotel.
Sources
- Sheraton Hotels & Resorts: About Us — official history, founders, New York Stock Exchange listing, reservation-system milestone, and international expansion.
- Marriott International 2025 Form 10-K — current Sheraton property and room counts and Marriott’s ownership, management, and franchise structure.
- Marriott–Starwood Acquisition Closing Announcement — September 23, 2016 completion date and transaction background.
- Revised Marriott–Starwood Transaction Terms — approximately $13.6 billion transaction valuation.
- Marriott Bonvoy Member Benefits — current general and elite-member benefit information.
- Sheraton Hotels & Resorts — current global brand presence, public-space concepts, guestrooms, and transformation features.
