Sheraton Hotels & Resorts announced plans for $1.3 billion in renovations, $400 million in brand initiatives and $2 billion in new hotels to improve the quality and consistency of Sheraton properties. Sheraton will upgrade 100 hotels in the U.S. — nearly half of its North American portfolio. Fifty thousand guest rooms will be renovated, featuring upgraded work stations, flat-screen TVs and 300-thread count sheets and duvet covers. More than 100 lobbies will be redesigned as “destinations” for guests complete with oversized chairs, game tables and free WiFi. The changes will take place over the next few years.