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Two years ago, when Marriott International plunked down $13 billion to buy Starwood Hotels and Resorts Worldwide, it came into possession of the posh St. Regis and trendy W brands—and also an awkward stepchild named Sheraton.
Sheraton’s problem wasn’t size. The well-known hotel brand had over 440 properties around the world, many of them prime locations. As of last year, Sheraton generated $9.2 billion annually in global revenue. But Sheraton had never been very successful at differentiating itself.
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