In order to boost its domestic portfolio, leading hotelier
Starwood Hotels & Resorts Worldwide Inc.
) is set to unveil its second Element branded hotel in Miami.
Christened Element Miami Doral, the hotel is slated to open in
Jul 2015 as part of a dual-hotel development with Aloft Miami
Doral, unveiled in March last year. Aloft is Starwood's mid-scale
and contemporary lifestyle brand.
The 139-room property, owned by Eurocon, LLC, will be located in
Doral, in north-central Miami. Situated at a stone's throw away
from popular business and shopping hubs, the hotel will also be
in close proximity to major tourist attractions such as the Miami
Zoo and Miami Sea Aquarium. We believe the upscale and strategic
location of the property will act as major crowd-pullers for the
Starwood's Leadership in Energy and Environmental Design (LEED)
certified, eco-sustained contemporary brand, Element was launched
in 2008. In its six-year journey, the brand has gained strength
and popularity, thanks to guest satisfaction. Currently, the
brand boasts as many as 10 hotels across the U.S. and Canada.
Further, the hotelier is developing one property each in
Germany and China under the eco-friendly brand. These hotels are
slated to be opened in 2014 and 2015, respectively.
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The Element brand, known for its sustainability and style, mainly
caters to the value-conscious guests and strikes a balance
between corporate and leisure travelers. Therefore, Miami is an
ideal choice as it is an important corporate hub, with offices of
the US Federal Reserve Bank, US Southern Command as well as
cruiser company -
). Additionally, the city is also a popular tourism hub, with
famous beaches, such as the South Beach.
Starwood currently carries a Zacks Rank #3 (Hold). A
better-performing stock in the same sector is
Marriott International, Inc.
), having a Zacks Rank #2 (Buy). In the broader leisure services
sector, investors may consider
Wynn Resorts Ltd.
), which sports a Zacks Rank #1 (Strong Buy).