Starwood Hotels & Resorts Worldwide Inc. (HOT) is set to unveil its Element brand hotel in Orlando, FL. Christened Element Orlando North, the hotel is slated to open in Jul 2015 and will be the third Element brand hotel in Florida, following Element Miami International Airport Hotel (already opened) and Element Miami Doral (scheduled to open in Jul 2015).
Element Orlando North will be owned by a joint venture among UP Development, StaySharpe and LBK Hotel Ventures. This hotel will be a part of the redevelopment of Orlando Fashion Square on Colonial Drive and will be built above remodeled shops and restaurants.
This hotel with 151 rooms will have studios and one-bedroom suites and will offer various amenities like spa, fitness center, swimming pool, and a 977 square-feet meeting room with modular furniture. The hotel is located close to Orlando Executive Airport, Universal Orlando Resort, and various other prominent spots of the region.
Florida, located in the southeastern part of the U.S., is most widely known for its world class studios and amusement parks. This could well be one of the reasons, why Starwood chose Orlando, and it justifies the company’s decision to bring its Element brand to the city.
The Element brand, known for its sustainability and style, mainly caters to the value-conscious guests and strikes a balance between corporate and leisure travelers. The brand is known for its eco-friendly and sustainable designs, natural light, and open spaces. Element is the first major hotel to embrace the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) standards. Launched in 2008, the brand has gained strength and popularity owing to guest satisfaction.
As part of its continued push to popularize this brand, the company is also set to introduce an Element-brand property in Fargo, North Dakota in Nov 2015.
Besides focusing on the lucrative domestic market, the company is consistently trying to expand its international footprint. More than half of Starwood’s properties are situated outside the U.S., which gives the company wide international exposure. This eco-friendly hotel brand is also set to debut in Suzhou, China in mid-2015. This will be the first Element-brand hotel in Asia Pacific.
Other leading hoteliers Hyatt Hotels Corporation (H) and Marriott International, Inc. (MAR) are also consistently trying to expand their international footprint.
Starwood currently carries a Zacks Rank #3 (Hold). The Marcus Corporation (MCS) is a better-ranked stock in the same sector with a Zacks Rank #1 (Strong Buy).
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment