Bethesda, Maryland-based hotelier,
Marriott International Inc.
), has recently decided to move ahead with an extensive
renovation plan for Des Moines Marriott Downtown in Des Moines,
Iowa. The makeover, worth approximately $2 million, is slated to
be finished by 2014.
Des Moines Marriott Downtown's meeting space, restaurant and
fitness center will undergo a complete renovation.
Strategically positioned near the business district, Des
Moines Marriott Downtown is close to Iowa Events Center, Wells
Fargo Arena and Drake University. The hotel enjoys prime
positioning and has witnessed high footfall since its
Des Moines, capital and the most populous city of Iowa, is a
key hub for the insurance sector. The flourishing business zone
of the city in turn drives the hospitality sector. We believe
these factors have encouraged Marriott to revamp the 417-room
Over the past few years, most hoteliers across the globe are
trying to boost guest satisfaction to remain competitive and get
a better foothold in the industry. Hence, brand conversion and
remodeling have become a trend.
Currently, several Marriott-branded properties are undergoing
extensive renovation, which will likely boost revenue per
available room once they are fully refurbished. Marriott is
primarily focusing on reviving its older properties operating in
dynamic markets in order to maintain consistency with the newer
In October, the Zacks Rank #2 (Buy) company completed the
extensive refurbishment of its iconic hotel, Norfolk Waterside
Marriott in Norfolk, Virginia. The $4.5 million renovation
started in Dec 2012. The hotelier revitalized the 397 rooms of
the hotel followed by the Piano Lounge and lobby.
Other Stocks to Consider
Some other hoteliers which are going to perform well, going
Home Inns & Hotels Management Inc.
Orient-Express Hotels Ltd.
Choice Hotels International Inc.
). While Home Inns & Hotels and Orient-Express Hotels hold a
Zacks Rank #1 (Strong Buy), Choice Hotels carries a Zacks Rank
CHOICE HTL INTL (CHH): Free Stock Analysis
HOME INNS&HOTEL (HMIN): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
ORIENT EXP HOTL (OEH): Free Stock Analysis
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