Starwood Hotels & Resorts Worldwide, Inc.
) announced its plans to open a new hotel in Mesa, a suburb located
in the east of Phoenix, AZ, under its popular brand Sheraton.
Slated to open in Mar 2015, the Sheraton Mesa Hotel will be owned
and developed by River View Hotel, LLC and operated by Power
hotels, LLC. This hotel will mark the entry of Starwood in Mesa,
while it will be the sixth Sheraton hotel in greater Phoenix.
Mesa, the third largest city in Arizona, combines urban amenities
with outdoor activities to provide visitors with the best of both
worlds, including golf resorts, rugged recreation areas, museums
and other attractions.
Located next to the Chicago Cubs' new spring training complex, this
luxury brand hotel features 180 rooms. This training complex is a
part of the Riverview re-development project that spans over 170
acres and includes a 15,000-seat stadium spring training facility
and space for other sporting events. More importantly, this hotel
will be located close to other top destinations like the Mesa
Riverview shopping center and the Phoenix Sky Harbor International
This luxury brand hotel will offer various amenities like two
full-service restaurants, bars, swimming pool, a fitness facility
and a meeting and event space spread over an area of more than
30,000 square feet. Taking into account, the hotels' strategic
location and the services provided, we believe that it serve both
business as well as leisure travelers.
According to PricewaterhouseCoopers, hotel demand in U.S. is again
expected to exceed supply in 2014. This offers the company an
opportunity to raise its room rate, going forward.
This Zacks Rank #3 (Hold) company continues to focus on domestic
expansion as evident from this current announcement.
Recently, the company announced the opening of two hotels, one
under the Element brand in Gainesville, FL and the other under its
upscale Westin Hotels & Resorts brand in Nashville, TN in 2017.
Some better-ranked stocks in the hotel industry include
Intercontinental Hotels Group plc
Marriott Vacations Worldwide Corp.
Wyndham Worldwide Corp.
). All these stocks have a Zacks Rank #2 (Buy).
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STARWOOD HOTELS (HOT): Free Stock Analysis
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