Most hoteliers are trying to strengthen their foothold in the industry and expand in key international markets to cash in on rising demand. Keeping up with this trend, Starwood Hotels & Resorts Worldwide Inc. HOT is also consistently expanding its footprint under its various brands. Recently, this leading hotelier announced the opening of a hotel in Mahabaleshwar, Western India under its brand Le Méridien. This marks the company’s ninth property in India under this brand and the first in Mahabaleshwar.
The cosmopolitan centers of Mumbai and Pune are a few hours’ drive from the Le Méridien Mahabaleshwar Resort & Spa owned by BrahmaCorp Located in the scenic Western Ghats, Le Méridien Mahabaleshwar Resort & Spa features 122 guestrooms and suites along with private balconies; a pool side restaurant, an all-day dining restaurant, a spa and a fitness center. This makes it suitable for both business as well as leisure travelers.
Le Méridien is a Paris-based hotel brand with more than 100 Hotels & Resorts worldwide. The company intends to expand its portfolio with the brand and concentrate on markets in Asia-Pacific and the Americas over the next five years. In fact, Starwood remains focused on expanding its footprint worldwide, despite a somewhat troubled geopolitical environment. The company is on track to open more hotels in 2015 and 2016 than in 2014.
With its strong presence, Starwood has become one of the most sought-after global brands. The company is now assessing its opportunities in various untapped but highly populated emerging cities. The thriving economy in these regions and the proliferation of small and medium-size companies are boosting business travel.
Going forward, the demand for hotels is expected to exceed supply in most regions, thereby giving restaurant companies an opportunity to increase room rates. Therefore, other leading hoteliers like Marriott International, Inc. MAR, Hilton Worldwide Holdings Inc. HLT and Hyatt Hotels Corporation H are also opening hotels worldwide.
Starwood presently has a Zacks Rank #3 (Hold).
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