Westin Hotels & Resorts, one of the upscale brands of Starwood Hotels & Resorts Worldwide Inc. (HOT), recently reported over $125 million total revenue, since inception of a signature guest program in the national market known as Heavenly Bed. Westin became the first hotel company to conceptualize such a retail product in 2000.
Since the program commenced 12 years ago, the Westin brand has sold over 100,000 Heavenly Beds, 250,000 Heavenly Pillows and 173,000 White Tea by Westin scented products. Westin plans to celebrate the achievement by providing customers with attractive concessions.
Besides the national market, Westin’s retail sale program has also seen success in the international market. In Asia, Westin’s retail products are on a continuing growth trajectory with successful sales in 39 properties across the region.
Starwood has set a new trend in hotel designs with its Westin brand, which embodies a blend of modern design and peaceful ambience. The brand also offers signature retail services including the Heavenly Bed, SuperFoodsRX, WestinWorkout studio and others to customers seeking a unique experience.
In the second quarter of 2012, RevPAR growth at Westin was 7.5% in constant dollars, the third highest among Starwood hotel brands. Westin has strong global presence, with properties in North America, Europe, Latin America, India, Southeast Asia and China. As of now, Westin’s portfolio comprises of more than 186 hotels in over 40 countries and territories.
Starwood Hotels and Resorts, which competes with Marriott International Inc. (MAR), is the leading worldwide hospitality company. As of June 30, 2012, the company’s pipeline comprises of more than 365 hotels across its upscale brands, including Sheraton, Westin, St. Regis, The Luxury Collection and W, besides others.
In the recently completed second-quarter 2012, Starwood reported adjusted earnings from continuing operations of 70 cents, beating the Zacks Consensus Estimate by 8 cents. Moreover, the company increased its adjusted earnings guidance to the range of $2.49–$2.56 per share, from the earlier guidance range of $2.35–$2.46.
Currently, the Zacks Consensus Estimate for 2012 and 2013 adjusted earnings are pegged at $2.53 and $2.72 per share. We presently have a long-term 'Neutral' recommendation on the stock. Also, the company carries a Zacks #3 Rank, which translates into a short-term ‘Hold’ rating.
STARWOOD HOTELS (HOT): Free Stock Analysis Report
MARRIOTT INTL-A (MAR): Free Stock Analysis Report
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