Over the past few years, most hoteliers are undertaking
measures to boost guest satisfaction in a bid to remain
competitive and get a better foothold in the industry. Hence,
brand conversion and remodeling have become a trend. Bethesda,
Marriott International Inc.
) is also following the same path.
Recently, several Marriott-branded properties have undergone
extensive renovation, which is expected to 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
The hotelier recently revamped the Renaissance Nashville Hotel
in Nashville, Tennessee. The refurbishment, which cost
approximately $20 million, is slated for a Feb 2014 opening. The
property's 673 guestrooms and suites underwent a complete
renovation. Moreover, the capacity of its meeting space was
increased by 70,000 square feet.
In November, the Zacks Rank #2 (Buy) company decided to move
ahead with an extensive refurbishment plan for its iconic hotel,
Des Moines Marriott Downtown in Des Moines, Iowa. The makeover,
worth approximately $2 million, is slated to be finished by 2014.
In October, the company also completed the makeover of Norfolk
Waterside Marriott in Norfolk, Virginia. The $4.5 million
renovation started in Dec 2012. These initiatives are consistent
with the company's continued brand-revitalization initiative to
Other Stocks to Consider
Some better-ranked stocks in the hotels sector include
Orient-Express Hotels Ltd.
Home Inns & Hotels Management Inc.
Wyndham Worldwide Corporation
). While Orient-Express Hotels and Home Inns & Hotels sport a
Zacks Rank #1 (Strong Buy), Wyndham holds a Zacks Rank #2.
HOME INNS&HOTEL (HMIN): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
ORIENT EXP HOTL (OEH): Free Stock Analysis
WYNDHAM WORLDWD (WYN): Free Stock Analysis
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