Starwood Hotels & Resorts Worldwide Inc. HOT announced the opening of its first Sheraton brand hotel in China’s Heilongjiang Province. The new hotel is owned by Harbin Taihong Real Estate Development Co., Ltd, a subsidiary of Eontime Real Estate (Group) Co., Ltd.
The Sheraton Harbin Xiangfang Hotel has 400 guestrooms, which include 52 family rooms. The hotel offers a variety of dining options through its restaurants Tai Mansion, FEAST and 63# Restaurant & Bar. Also, other amenities like a fitness center, an indoor heated pool, a club lounge and free Wi-Fi are available. Moreover, the Sheraton Harbin Xiangfang boasts the largest meeting space in Northeast China. Its flexible meeting space can accommodate around 5,000 people.
Located in Harbin, China’s Ice City and a popular winter tourism destination, the new hotel will cater to the needs of both leisure and business travelers. It is situated near top retail and entertainment facilities as well as popular travel destinations. It is also easily accessible from the Harbin Taiping International Airport as well as the Coach Station and Harbin Railway Station.
The company said it is offering special rates of Renminbi 1088 for a one night stay in a Deluxe Room as an opening package. This package, which includes breakfast for one person, free access to Internet and double Starpoints for SPG members, is valid till Jun 9, 2016.
The Sheraton Harbin Xiangfang Hotel is the 72nd Sheraton hotel in China. The opening is part of Starwood’s strategy of increasing its Sheraton brand hotels worldwide. The company plans to add over 150 Sheraton hotels by 2020.
Currently, Starwood Hotels & Resorts carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the hotels space 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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