In order to capture the growing Chinese market opportunities,
Marriott International Inc.
), is all set to unveil a Ritz-Carlton property in Tianjin, North
East China in association with Tianjin Real Estate Development
Management Group Co. Ltd. Christened as Ritz-Carlton, Tianjin,
the new hotel is slated to open for business in mid-2013.
Strategically positioned beside the Haihe River, the new hotel
lies in proximity to Beijing. Tianjin with the largest artificial
deep-water port in China is well known for its economical,
cultural and historical background. It was previously reputed to
be one of the "'national central cities" by the Chinese
Ritz-Carlton, Tianjin featuring 277 rooms and 53 suites, also
has a meeting space covering an area of 1,625 square meters. The
hotel also comprises four restaurants, swimming pool, spa and
fitness center facilities. Tianjin Academy of Urban Planning and
Design is engaged in designing the hotel.
China is keen to bring about a recovery in global tourism and
eagerly looks forward to turning the country into the world's
largest travel destination by 2020. Marriot, in order to
capitalize on that opportunity, seeks to double its presence in
China in the next 3 years.
Washington-based Marriott International operates and
franchises hotels and related lodging facilities worldwide under
brand names such as Marriott, JW Marriott, The Ritz-Carlton,
Renaissance, Residence Inn, Courtyard, TownePlace Suites,
Fairfield Inn, SpringHill Suites, Ramada International, and
The Ritz-Carlton now owns and manages 81 hotels in America,
Europe, Asia, the Middle East, Africa and the Caribbean.
Moreover, nearly 30 properties of Ritz-Carlton are currently
In December 2012, Marriott International's subsidiary
Ritz-Carlton declared that it would launch a new hotel,
Ritz-Carlton, Chengdu, in Chengdu, South-West China. It is
scheduled to be released in 2013.
One of the company's peers
Intercontinental Hotels Group plc
) already has a strong presence in the Tianjin region with its
Crowne Plaza Tianjin Binhai hotel. Intercontinental Hotels
carries a Zacks Rank #1 (Strong Buy).
Marriot International currently retains a Zacks Rank #4
(Sell). Hoteliers which are expected to perform well include
The Marcus Corporation
Sands China Ltd.
). All these stocks carry a Zacks Rank #1 (Strong Buy).
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