Credit: Shutterstock photoMajor hoteliers are expanding their contemporary brands in emerging markets to ramp up profits. Consistent with this strategy, Starwood Hotels & Resorts Worldwide Inc. ( HOT ) is set to introduce its contemporary, design-led luxury lifestyle brand, W Hotels, in Marrakech, Morocco. Christened W Marrakech, the hotel is scheduled for a 2017 opening.
The hotel will be owned by a local global investment fund - Menatlas 14 S.A. The 148-room hotel will be located in the luxurious Hivernage district between the historic Medina and Guéliz - lthe city's new town. The hotel will be a stone throw away from attractions like the Menara Gardens and the well-known boutiques. We believe the location will be a major draw for the tourists.
W Marrakech will offer various amenities such as a restaurant, an all-day dining venue, a destination as well as an outdoor bar, a spa, modern fitness facility, round-the-clock business centre and state-of-the-art meeting and event space, including a ballroom.
Morocco's flourishing tourism industry justifies Starwood's decision to expand in the country. In fact, the hotelier is striving to enhance its presence in the emerging markets of Africa to cash in on the increasing demand for hotels in the region.
Commencing its journey in 2004, Starwood now owns 44 properties under its luxury boutique brand, W Hotels. The brand rides on a high growth trajectory and has already made a mark in North America, Europe, the Middle East, Latin America, India, Southeast Asia and China.
In its 15-year journey, W has performed well in terms of guest satisfaction, reflecting the brand's strength and growing popularity. The brand caters to the preference of modern young travelers who seek a unique experience. With the latest opening, the company has moved closer toward fulfilling its goal of operating 60 W branded hotels by 2018.
Other Stocks to Consider
Better-ranked stocks in the same industry include China Lodging Group, Limited ( HTHT ), Civeo Corporation ( CVEO ) and Choice Hotels International Inc. ( CHH ).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
