Sheraton to invest $350 million to renovate properties worldwide

Sheraton Hotels and its owners are investing over $350 million to enhance its flagship properties around the world. This includes the $160-million renovation of the Sheraton New York Hotel & Towers, the multi-million dollar refurbishment effort of the Sheraton Grand Hotel & Spa in Edinburgh, and the $20-million renovation of the Sheraton Mirage Resort & Spa Gold Coast in Australia. Several other Sheraton hotels will enjoy multi-million dollar renovations this year, including the Sheraton Rio Hotel & Resort in Brazil, Sheraton Maria Isabel Hotel & Towers in Mexico City, and the Great Wall Sheraton Hotel Beijing, Sheraton Xian Hotel, Sheraton Chengdu Hotel and Sheraton Nanjing Hotel in China.

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The new hotel is a mile from where the brand made its debut in London's Mayfair neighborhood 48 years ago. 

The former Holiday Inn in Port Washington will continue under the direction of S&L Hospitality, its owner and operator since 1998.

The hotel will be a conversion of the former Al Areen Palace & Spa.