In a bid to expand its global portfolio, Starwood Hotels & Resorts Inc.’s HOT subsidiary, St. Regis Hotels & Resorts, opened its first hotel in Dubai – The St. Regis Dubai. The hotel is owned by the Al Habtoor Group – a major UAE conglomerate with presence in the hotel, automotive, real estate, education and publishing sectors.
The hotel is situated in the strategically located Al Habtoor City. The development is located near attractions like the Burj Khalifa and The Dubai Mall and is also easily accessible from the Dubai International Airport and the Al Maktoum International Airport. The St. Regis Dubai will share space at the Al Habtoor City with two other Starwood hotels, the W Dubai and the Westin Dubai.
The St. Regis Dubai hotel offers eight dining venues and luxurious facilities like the Iridium Spa, the first in Dubai. The luxury hotel also owns a fleet of Bentleys and Middle East’s first Bentley Suite that would be available early next year. Overall, it has 234 guestrooms that include 52 suites.
This launch marks Starwood’s largest hospitality project in the UAE region and is an important milestone for the company as it plans to expand its presence in the Middle East. The St. Regis Dubai is the company’s fourth venture in the region, following The St. Regis Saadiyat Island Resort, The St. Regis Doha and The St. Regis Abu Dhabi. The St. Regis brand plans further expansion with The St. Regis Amman in Jordan in 2016 and The St. Regis Dubai Al Habtoor Polo Resort and Club in 2018.
Starwood is striving to capitalize on the rising demand for luxury hotels in the Middle East and the company remains focused on doubling its presence in the region by 2019.
Starwood currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same industry 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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