Recently, Starwood Hotels & Resorts Worldwide Inc. HOT announced that it would open its first Sheraton brand hotel in Okinawa, Japan. The company has signed an agreement with Sunmarina Operations Co., Ltd. – a part of the hotel management company, Ishin Hotels Group – for the same.
An existing Sunmarina Hotel will be rebranded to develop the resort, which will open its doors in mid-2016. Initially, the hotel will have 200 rooms and by early 2017, 45 more rooms would be added through a new build tower as part of the re-branding strategy. The 245 guestrooms would include 18 suites. The resort would also have a meeting and event space and other amenities like an outdoor pool, a fitness facility, tennis courts and spa. It will also offer a variety of dining options.
Located on the Sunmarina Beach, Sheraton Okinawa Sunmarina Resort will offer a view of the East China Sea. The resort’s location would allow it to cater to the needs of diverse travelers. It is located near famous attractions like the Churaumi Aquarium and traditional villages and is also easily accessible from the Naha Airport.
The Sheraton Okinawa Sunmarina Resort is part of Starwood strategy of expanding its Sheraton hotel brand. The company plans to add over 150 Sheraton hotels by the end of the next decade across the globe.
Starwood currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same industry are Belmond Ltd. BEL, Extended Stay America, Inc. STAY and Wyndham Worldwide Corporation WYN. All these stocks hold a Zacks Rank #2 (Buy).
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