[1] In 1974, the Philippine government encouraged the private sector to build hotels in anticipation of the 1976 International Monetary Fund-World Bank (IMF-WB) annual meeting to be hosted in the county.

The government made funds available to private firms willing to build hotels at low interest rates.

Century Park Sheraton, along with 14 other deluxe hotels in Metro Manila was opened in time for the IMF-WB meeting.

Sipalay Trading Corporation of Lucio Tan became a major stockholder of the hotel on April 19, 1985.

[3] The hotel is known for accommodating China's paramount leaders during their visits to the Philippines including Xi Jinping, Hu Jintao and Jiang Zemin.