ITT Sheraton adds 30 hotels

ITT Sheraton adds 30 hotels

NEW YORK (Reuter): ITT Sheraton Corp, a unit of ITT Corp, said
Wednesday it has added 30 new properties in nine countries,
including its first hotels in Ghana and Jordan.

The properties contain nearly 7,200 rooms and include 19
Sheraton hotels and resorts in Argentina, Canada, Egypt, Ghana,
Indonesia, Jordan, the Netherlands, the Philippines and the
United States, the hotel company said.

Also included are four Four Points Hotels in the U.S., and
five private sports and recreational clubs and three related
resorts in the Philippines, it said.

The new properties represent recently signed management
contracts and franchise agreements and scheduled openings, it
said.

The transactions will immediately add to the company's
revenues and will generate "significant" cash flow over the next
10 years, it said.

ITT Sheraton currently operates 427 hotels with more than
133,000 rooms in 62 countries.