Intercontinental Hotels Group plc
), is strengthening its Latin American portfolio through
continuous expansion in the region. The latest addition to the
portfolio is Holiday Inn Express Panama Distrito Financieroin
Panama City, Panama. The 196-room property will mark the debut of
Holiday Inn Express brand in the city.
Of late, the emerging market of Panama has attracted the
attention of several hoteliers. The political and administrative
hub of the island, Panama City is also the business center and
home to several prime business enterprises. These factors, in
addition to the flourishing tourism industry, encouraged
InterContinental's decision to bring its Holiday Inn Express
brand to the city.
Intercontinental Hotel's latest property, positioned in close
proximity to Tocumen International Airport, Punta Pacifica
Hospital, Costa del Este Business Park and various shopping
venues like Multiplaza Pacific and Multicentro, is expected to
cater to both leisure and business travelers. We expect the
strategic position, wide range of amenities offered at the
Holiday Inn Express Panama Distrito Financiero as well as its
contemporary ambience to create a strong guest base.
The company has unveiled the Holiday Inn Express-branded
property in association with Grupo AGRISAL's operational arm,
Latin American Hospitality Group. Grupo AGRISAL plans to unveil
two more hotels under the brand in Honduras and Nicaragua, going
Holiday Inn Express is a smaller prototype of the Holiday Inn
brand, primarily designed to serve business travelers.
Intercontinental currently owns 44 properties under Holiday Inn
Express and Holiday Inn brands cross the Latin American
InterContinental has been operating in Latin America for the
past 65 years. The affluent middle-class population and greater
footfall impelled this Zacks Rank #3 (Hold) company to grow
further in this fast-growing emerging market. The hotelier has
more than 80 hotels in Central and South America and the
Caribbean. We believe the new property will strengthen its brand
presence in the region as well as align with its growth
Other Stocks to Consider
InterContinental holds a Zacks Rank #3 (Hold). Investors
interested in the hotel and lodging industry may consider stocks
Home Inns & Hotels Management Inc.
Marriott International, Inc.
Orient-Express Hotels Ltd.
). While Home Inns & Hotels has a Zacks Rank #1 (Strong Buy),
Marriott and Orient-Express Hotels hold a Zacks Rank #2
HOME INNS&HOTEL (HMIN): Free Stock Analysis
INTERCONTL HTLS (IHG): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
ORIENT EXP HOTL (OEH): Free Stock Analysis
To read this article on Zacks.com click here.