I've stayed at both and I really don't have a preference other than price an/or the reason I'm there. If I'm in Pasadena for something at the convention center I stay at the Sheraton. If I'm there for something other than the convention center then it basically comes down to price for me. From time to time I change that up just for a little variety.
The good thing though is that they are both close to my favorite Italian Restaurant in the area: Celestino at 141 Lake St.