In order to beef up its Canadian portfolio,
Starwood Hotels & Resorts Worldwide Inc.
) recently unveiled its first Four Points by Sheraton branded
property in Kelowna, British Columbia. The Four Points by
Sheraton brand represents mid-scale, unique, contemporary
lifestyle hotels. Christened Four Points by Sheraton Kelowna
Airport, this new property also marks the opening of the 24
hotel under this brand in Canada.
Strategically positioned next to the Kelowna International
Airport (YLW), the Four Points by Sheraton branded property is in
proximity to the city of Kelowna, the University of British
Columbia (Okanagan Campus) and Okanagan Lake. It features 120
guest rooms along with various other amenities such as outdoor
pool, a bar, a fitness center and a meeting place measuring 4,500
Owing to the property's closeness to Kelowna's several famous
ski-resorts located near Okanagan Valley, it is expected to
attract leisure travelers interested in water sports.
Launched in Jan 1995, Starwood's third-largest brand, Four
Points by Sheraton, currently owns as many as 175 properties
across 30 countries worldwide. In its 20 years of operation, this
brand has performed satisfactorily in terms of guest
satisfaction, reflecting the brand's strength and growing
The brand's concept is in sync with the preference of modern
travelers who seek a unique experience. Its affordable price
point in the mid-market hotel category is another reason for its
As per the expansion plan, of Four Points' total development
pipeline, most of the properties are based in the North American
region and it also plans to develop 27 properties in the Canadian
market in 2013.
In the first quarter of 2013, revenue per available room
(RevPAR) growth at Four Points was 6.7% in constant dollars, the
fourth highest among all the other brands. The company now
expects 2013 to be the strongest year for the brand in terms of
signing management and franchise deals.
Similar contemporary mid-priced brand concepts, such as
Holiday Inn and Hyatt Place, have been introduced by
Intercontinental Hotels Group plc
Hyatt Hotels Corporation
Starwood currently carries a Zacks Rank #3 (Hold). Another
hotel stock worth looking into is
The Marcus Corporation
), which carries a Zacks Rank #2 (Buy).
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
INTERCONTL HTLS (IHG): Free Stock Analysis
MARCUS CORP (MCS): Free Stock Analysis Report
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