Leading hotelier, Starwood Hotels & Resorts Worldwide, Inc. (HOT) recently announced the opening of the Dushanbe Hotel in Tajikistan under the brand Sheraton. The hotel, which has been opened in collaboration with CJSC CHL International, a subsidiary of CHL Limited, marks the entry of the company in Tajikistan.
This hotel will be owned by CJSC CHL International and will feature 148 rooms, state-of-the-art meeting facilities, three restaurants, a spa, a function space spread over an area of 18,000 square feet and all of the Sheraton brand’s signature amenities and services. Located very close to the Dushanbe International Airport, Sheraton Dushanbe Hotel offers easy access to the city’s central business district, government offices, embassies and top entertainment destinations like museums and parks. Therefore, the hotel would be a perfect choice for business as well as leisure travelers.
Sheraton has been reaching new markets first and building strong relationships with owners and developers. The landmark opening in Tajikistan continues the trend. Notably, the Sheraton brand is on track to open its 500th hotel in 2016. The brand will make its debut in Samoa and Romania in 2015. Sheraton accounts for nearly 40% of all Starwood hotels in the Asia Pacific and is leading Starwood’s growth in Africa, where the brand will open six more hotels by 2018.
In fact, demand for the company’s upper upscale brands has increased over the years. Starwood opened 27 hotels across its Sheraton, Le Méridien and Westin brands in 2014, with over 150 under active development.
More than half of Starwood’s properties are situated outside the U.S., which gives the company wide international exposure. The company recently announced that it opened 74 new hotels in 2014, representing approximately 15,000 rooms in 26 countries. The company also signed 175 new hotel management and franchise agreements in 2014, up 15% year over year – marking the fifth consecutive year of increased signings. Meanwhile, the company expects to record solid growth in both mature and emerging markets in 2015 driven by hotel openings and high-quality deal signings.
Most hoteliers across the globe are trying to tap the rapidly growing demand for international hotels in the emerging markets, especially China. Apart from Starwood Hotels, Marriott International, Inc. (MAR) and Hyatt Hotels Corporation (H) are also seeking to capitalize on this demand.
Starwood Hotels presently has a short-term Zacks Rank #3 (Hold). Intercontinental Hotels Group plc (IHG) is a better-ranked stock in the hotel industry with a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment