Sheraton Corp.'s inns-franchise division has announced plans to build a 500-room, 22-story hotel and conference center at Route 7 (Leesburg Pike) and the Dulles Access Road in Vienna. The new $50 million Sheraton Tysons Corner Hotel will be built on a 12-acre tract between the Moore Cadillac Co. and the Dulles Access Road ramp. Construction is expected to begin in early 1984, with completion of the project scheduled for 1985.

The hotel will have 30,000 square feet of meeting and exhibit space and a 1,200-seat ballroom.

The owner of the hotel is S.R.S. Properties, a limited partnership. It will be managed by the Arltec Hotel Group of Chevy Chase. Daniel M. Ross is the managing partner.

Ross also owns and operates the Sheraton International Conference Center in Reston; the Sheraton Washington Northwest in Silver Spring, and the Sheraton National and the Sheraton Crystal City, both in Arlington.

The architect for the new Vienna Sheraton is the Falls Church firm of LBC&W Architects, Engineers and Planners. Financing for the project is being provided by the First National Bank of Chicago and was arranged through the First Financial Group of Washington.