The Ritz-Carlton Hotel Company LLC, a wholly owned subsidiary
Marriott International Inc.
), recently completed a $2 million renovation of its iconic spa
resort, The Ritz-Carlton Key Biscayne, Miami in Key Biscayne,
Under the remodeling project, the resort's spa fitness centre
and salon were upgraded. After the renovation, the hotel boasts a
combination of modern elegancy with upscale spa facility, fine
dining, cultural venues and a wide tennis court.
Ideally located on the banks of South Florida beach at Grand
Bay Drive, The Ritz-Carlton Key Biscayne enjoys prime
positioning. Founded in 2001, the property is in proximity to
Miami's Cosmopolitan Centre. Since its opening, the hotel has
witnessed high footfall.
The island town of Key Biscayne being one of the prime
destinations among leisure travelers, we believe the overhaul of
this property is a strategic decision.
Over the past few years, most hoteliers across the globe are
trying to boost guest satisfaction to remain competitive and
strengthen their presence in the industry. Hence, brand
conversion and remodeling have become a trend.
Marriott is comprehensively working on its assets to offer an
enhanced and customized travel experience to its guests.
Presently, several Marriott-branded properties are undergoing
extensive renovation which will likely boost revenue per
available room. Marriott is primarily focusing on reviving its
older properties operating in dynamic markets in order to
maintain consistency with the newer ones. This new restoration is
in line with the company's continued brand-revitalization
In late November, the Zacks Rank #2 (Buy) company 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.
Other Socks to Consider
Other players in the hotel industry, which look attractive at
current levels, include
Home Inns & Hotels Management Inc.
Orient-Express Hotels Ltd.
Wyndham Worldwide Corporation
). While Home Inns & Hotels sports a Zacks Rank #1 (Strong
Buy), Orient-Express and Wyndhamhold 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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