Starwood Hotels & Resorts Worldwide, Inc.
) is on the verge of signing new deals and launching hotels in
the flourishing Indian and South Asian market in order to further
ramp up its presence in the region.
Commencing its journey in 1973, the company now owns 34 hotels
in the region with as many as 24 properties currently under
construction. Also, with a clear intent of embarking on the
hospitality business, in India, Bangladesh and Sri Lanka, the
company entered into 10 contracts in 2012.
Starwood Hotels will launch Le Meridien Dhaka in Bangladesh in
2013. It will be also opening Sheraton Colombo Hotel in Sri Lanka
in late 2013 and The Four Points by Sheraton Colombo,
International Airport in 2014. These hotel openings are in line
with the company's strategy to venture into new markets.
With increasing demand, the company aims to operate nearly 100
Starwood Hotels branded properties across India by 2015.
In a concerted endeavor to strengthen its full-service, luxury
brand portfolio with 150 properties worldwide, the company is
continuously constructing new hotels mostly in the emerging
markets with its special focus on India.
The company will launch W Retreat & Spa Goa and The St.
Regis Noida, Delhi NCR in 2014 and 2017, respectively, which will
mark the debut of luxury brands W and St. Regis in India.
It will also unveil Sheraton Greater Noida Hotel, Sheraton
Bengaluru Whitefield Hotel & Convention Center in 2014 and Le
Méridien Delhi NCR, Noida in 2016. The company is also engaged in
the refurbishment of three Le Méridien branded properties in
Bangalore, Jaipur and Kochi.
Besides, the company's upscale brand Sheraton, Westin and Le
Méridien will also witness high growth in India with the launch
of The Westin Chennai Velachery and Sheraton Chandigarh Hotel in
India in 2013.
Starwood Hotels has an established resort business in South
Asia, especially in Koh Samui, Phuket, Langkawi, Bali and
Maldives. The company is now trying to enhance its resort
business in India through doubling the number of its resort room.
In this regard, it will open Le Meridien Mahabaleshwar Resort
& Spa in Orissa and The Westin Bekal Resort & Spa in
Kerala in late 2013 and 2014, respectively.
The company's mid-market brands, Four Points by Sheraton and
Aloft is also extending its operations in India with the
inauguration of Aloft Ahmedabad SG Road and Aloft Bengaluru
Cessna Business Park under its Aloft brand in 2013.
Starwood currently holds a Zacks Rank #3 (Hold). Top
Starwood's peers such as
Choice Hotels International Inc.
Hyatt Hotels Corporation
) carry a Zacks Rank #2 (Buy), whereas
The Marcus Corporation
) holds a Zacks Rank #1 (Strong Buy).
CHOICE HTL INTL (CHH): Free Stock Analysis
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
MARCUS CORP (MCS): Free Stock Analysis Report
To read this article on Zacks.com click here.