The Sheraton New York Hotel and Towers has revealed a $150 million renovation project. Over the next few months, the property will receive a floor-to-ceiling transformation, expanding the size of all 1,780 guest rooms, grand suites and the Sheraton Club Lounge, to provide travelers a relaxing oasis in the heart of New York’s mid-town Manhattan.

The hotel’s multi-million dollar renovation project is part of Sheraton Hotels Resorts ongoing commitment to enhance its global portfolio and is one of several landmark Sheraton hotels that will launch a large-scale renovation project this year. At the Sheraton New York Hotel and Towers 1080 guest rooms, including 32 grand suites and the Club Lounge will be completely redesigned throughout the first stage of the renovation, scheduled to be completed May 2011. The remaining guest rooms will begin renovation December 2011 and be completed in April 2012.

“On the heels of our successful $6 billion revitalization effort we continue to improve the quality and consistency of the brand portfolio by renovating iconic landmark properties in key destinations around the world,” said Hoyt Harper, Global Brand Leader for Sheraton Hotels. “As the economy continues to rebound and travelers return to the road en masse, Sheraton will be ready with newly renovated flagship hotels and brand offerings.”

“New York City continues to maintain its position as the world’s most popular tourist destination for international visitors and recently emerged as the top choice for domestic travelers for the first time in nearly 30 years,” said Kai Fischer, Director of Sales and Marketing, Sheraton New York Hotel and Towers. “We are thrilled Sheraton’s flagship hotel will be completely renovated to welcome visitors and provide them the best accommodations in the heart of Manhattan.”