Saipan’s tourism industry received a boost as MB Capital LLC announced the rebranding of the former Hyatt Regency, which officially closed its doors on Aug. 31. MB Capital has signed a memorandum of understanding with Starwood Asia Pacific Hotels and Resorts, marking the property's transformation into a Sheraton hotel.
The agreement with Starwood, announced on Oct. 22, aligns Saipan with Marriott International’s global network, which includes over 400 Sheraton Hotels and Resorts worldwide. The rebranding to Sheraton is anticipated to enhance the island’s visibility in the tourism market through Marriott’s established brand.
David Hood, president of MB Capital, said Sheraton was selected after careful consideration, with Hilton Hotels also being a contender for the property on Micro Beach Road in Garapan. Governor Arnold I. Palacios attended the announcement, expressing gratitude for the efforts made to bring this project to fruition.
Hood stated that MB Capital aims to open the Sheraton Saipan by Nov. 25, though he noted substantial work remains to meet this target.
To support the reopening, MB Capital held a successful job fair on Oct. 19, attracting about 450 applicants for various entry-level positions. The popular Japanese restaurant Miyako, located within the hotel, has already reopened, welcoming new and returning patrons.
Sheraton now operates 446 hotels globally and is set to add Saipan to its list. Following Marriott International’s acquisition of Starwood Hotels in 2016, Marriott remains the world’s largest hotel and resort company, underscoring the significance of Saipan’s new Sheraton branding.
