Over the past few years, hoteliers are geared to maximize the satisfaction of their guests to remain competitive and get a foothold in the industry. Hence, renovation and remodeling have become a trend. Bethesda, Maryland-based Marriott International Inc. (MAR) has followed suit.
Recently, several Marriott-branded properties have undergone extensive renovation, which is expected to boost revenue per available room post refurbishment. Marriott is primarily focusing on reviving its older properties operating in dynamic markets in order to maintain consistency with the newer ones.
The hotelier is going to revamp the Griffin Gate Marriott Resort & Spa in Lexington, KY. The refurbishment, which costs approximately $1 million, is slated to begin from Feb 2014. The renovation is part of an extensive $5 million project which began in 2013.
The property’s guestrooms and suites have already undergone a complete renovation. Moreover, the concierge lounge, hospitality and presidential suites, Elmendorf and Spendthrift meeting rooms have been refurbished.
In Dec 2013, the Zacks Rank #2 (Buy) company decided to move ahead with an extensive refurbishment plan for its iconic hotel, Renaissance Nashville Hotel in Nashville, TN. The makeover, worth approximately $20 million, is expected to begin in Feb 2014. Again, in Nov 2013, the company started renovating Des Moines Marriott Downtown in Des Moines, Iowa. The makeover, worth approximately $2 million, is slated to be finished by 2014.
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