Leading hotelier, Starwood Hotels & Resorts Worldwide, Inc. (HOT), is consistently trying to expand its presence globally. In Jan 2014, the hotelier announced the opening of approximately 74 properties with nearly 16,200 guestrooms across 22 countries in 2013. With the rise in global travel demand and increasing wealth, Starwood expects 2014 to be solid in terms of openings and new agreements. The company will continue to concentrate on the fast-growing areas where demand is substantially high but supply limited.
In order to beef up its global exposure, Starwood is set to introduce a Westin-branded property, The Westin Turtle Bay Resort & Spa, in Mauritius, in association with its long-term franchisee Blue Ocean Park Ltd. The new property, slated for a spring 2014 opening, will mark the brand’s entry into Mauritius.
Strategically positioned at Turtle Bay of Balaclava, on the island’s North West coast, the new hotel is in close proximity to Mauritius’ coastal village — Grand Baie — and The Marine Nature Park. The Westin Turtle Bay Resort & Spa features 190 rooms and 38 suites with a clear view of the Indian Ocean; an outdoor pool, a fitness center, a full-service dining, meeting space and various other amenities.
We believe Mauritius, an important tourist destination, is a strategic fit for new properties. Apart from this property, Starwood has two other resorts on the island — The St. Regis Mauritius and Le Méridien Ile Maurice.
Westin is an upscale brand of Starwood, which currently owns nearly 190 hotels across 40 countries. The company is on the verge of unveiling the 200th property under the Westin brand this year. In Dec 2013, Starwood unveiled a Westin branded hotel in Portland, Maine. The hotel is a strategic renovation of a landmark property in the heart of the city. The company spent $50 million and one and a half years to remodel the existing hotel to Westin Portland Harborview.
Starwood presently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the hotel sector include Choice Hotels International Inc. (CHH), Hyatt Hotels Corporation (H) and Wyndham Worldwide Corporation (WYN). All these companies carry a Zacks Rank #2 (Buy).
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