ITT Sheraton Corp has acquired a majority interest in Hotel Diplomat, a Polish limited-liability company which is building and owns the Sheraton Warsaw Hotel, according to John Kapioltas, the chairman and chief executive officer of Sheraton. The Sheraton Warsaw Hotel is a 355-room mid-rise five-star hotel in Warsaw. Mr Kapioltas said the investment to develop the Warsaw Hotel was the largest single hotel development commitment in Europe by ITT Sheraton. Terms of the transaction were not disclosed. The site for the hotel was contributed by the City of Warsaw, for which it received an equity interest in the project.