Marriott International has purchased the 1,000-room Sheraton Grand Phoenix for $225 million and plans a significant renovation that will turn the property into a model for its overhaul of the Sheraton brand.

"The hotel will provide a living and breathing showcase of our new vision for the Sheraton brand, underscoring our commitment to restore the brand to its leadership position," Marriott president and CEO Arne Sorenson said.

"Going back to Sheraton's roots as being the heart of the community, the renovated hotel will showcase the brand's new focus on services and design that enable socialization, productivity and personalization, featuring collaborative venues and technology that enable unique experiences. The Sheraton Grand Phoenix will become a wonderful destination for locals and out-of-towners."

Marriott unveiled its plans for transforming the Sheraton brand earlier this month at the 40th annual NYU International Hospitality Industry Investment Conference, saying 25% of the brand's owners have committed $500 million to the renovations.

The revitalization of the brand, which constitutes 30% of Marriott's portfolio, has been a top priority from the moment Marriott took over the brand as part of its merger with Starwood Hotels and Resorts in 2016, Sorenson said.

Starwood admitted in 2007 that it nearly gave up on Sheraton. Instead, it launched a $4 billion effort in 2008 to make the brand more consistent globally with renovations and a purge of subpar hotels.

But Marriott said those attempts were disjointed, failing to focus on the whole picture.

The 33-story Sheraton Grand Phoenix opened in 2008 and is located in the heart of downtown  Phoenix. The hotel features about 77,000 square feet of meeting space, a business center, a fitness center, a fourth-floor outdoor pool with a poolside bar, as well as a lobby restaurant and bar. The company expects to begin renovations in 2019.


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