Most hotel companies worldwide are trying to augment guest
satisfaction and gain a better foothold in the industry amid stiff
competition. Following the trend,
Marriott International Inc.
) has entered into an agreement with Oberoi Realty, a consortium
led by Oberoi Realty and Sahana Group to open a hotel in Mumbai,
India under the Ritz-Carlton brand in early 2017.
This will be the first Ritz-Carlton in the city and the second
in India. Recently, the company opened the first hotel under this
brand in India in the city of Bangalore.
Located in Worli, this hotel will comprise 238 rooms and offer
amenities like a bar, dining restaurants, spa and extensive meeting
spaces for high profile events and weddings. Further, this luxury
hotel with magnificent views of the Mumbai skyline will be in close
proximity to major tourist and historic attractions and upscale
shopping and dining locations. A building with 140 apartments will
also come up adjacent to the hotel on the same premises.
Such a strategic location justifies the company's decision to
introduce this luxury brand hotel in the city. In addition, its
location and amenities would attract business as well as leisure
Marriott International is consistently trying to expand its
global presence. Recently, the company announced that it is set to
expand its portfolio to 100 hotels under this brand by 2016 by
adding 15 new hotels in both emerging as well as established
destinations. Ritz-Carlton currently operates 85 hotels in the
Americas, Europe, Asia, the Middle East, Africa and the
This Zacks Rank #3 (Hold) company is focused on expanding its
footprint in international markets, especially in Asia, the Middle
East, Europe, Australasia and the Indian subcontinent, which boast
solid growth potential. The demand for hotels in the emerging
markets is greater than in the U.S., and the pace of recovery is
particularly fast in the underserved Asia-Pacific region.
Some better-ranked stocks in the hotel industry include
Intercontinental Hotels Group plc
Marriott Vacations Worldwide Corp.
Wyndham Worldwide Corp.
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