You need to look at the links provieded to the maps of the airport. CDG is huge - and no - the Sheraton is not right next to any of the many customs exists.

And you cannot stay airside. Even if you wanted there is nowhere to sit or wait. You need to proceed directly through Immigration, then to the carousels to get your bags - if they are not picked up in a timely manner another flight will get that carousel and your airline will hold your bags in an office somewhere - and exit through Customs (Green Lane) into the land side of the airport.

After that you need to head to the Sheraton if that's where you want to wait (again you need to look at the maps).

I travel alot (business) "with" colleagues that are not on the same plane. In all cases we meet at thehotel.