Starwood Hotels & Resorts Worldwide Inc. HOT recently announced that it will launch its contemporary hotel brand – Aloft – in the upscale location of the East bay side of the San Francisco Bay area in California. Named the Aloft Dublin-Pleasanton, the hotel will be owned by Zenique Hotels and is expected to open in Mar 2017.
Aloft Dublin-Pleasanton will be located in a 14-acre mixed-use development, including shops and residences, and close to the corporate headquarters of Chevron, Safeway, Ross Stores, Clorox and Sybase as well as the new campus of Kaiser Permanente. The hotel will also be near technology companies like Oracle, AT&T and Cisco Systems and other tech start-ups in the Silicon Valley.
The 120-room hotel will also provide other amenities like outdoor pool with cabanas, a state-of-the-art fitness center, flexible meeting space with the latest technologies, a restaurant and bar.
The Aloft brand caters to the modern travelers who seek a unique experience. Its affordable price point in the mid-market hotel category is another reason for its increasing popularity. Driven by rising demand, the hotelier is set to open the 100th hotel under this brand by the end of this year. Starwood also plans to introduce Aloft in newer markets like Munich and Stuttgart, Germany as well as the emerging ones such as Greater China.
With the rise in global travel demand and increasing wealth among consumers, Starwood expects 2015 to be strong in terms of openings and new deals. The company will continue to concentrate on the fast-growing areas where demand is substantially high but supply limited.
Starwood currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector are Marriott Vacations Worldwide Corp. VAC, China Lodging Group, Limited HTHT and Intrawest Resorts Holdings, Inc. SNOW. All these stocks sport a Zacks Rank #1 (Strong Buy).
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