In order to expand its footprint in the Middle East region,
Starwood Hotels & Resorts Worldwide Inc.
) recently unveiled a Sheraton branded property in Dubai in
collaboration with Majid Al Futtaim Properties. This new property
named Sheraton Dubai Mall of the Emirates Hotel marks the opening
of the 16
Sheraton-branded hotel in the Middle East.
The new hotel is strategically positioned at the Mall of the
Emirates and is in proximity to the Dubai International Airport
and is 20 minutes away from the Dubai World Trade Centre.
Sheraton Dubai Mall of the Emirates Hotel will benefit hugely
from its strategic location and will be an integral part of the
retail business and entertainment activities.
The new hotel features 481 guest rooms with 94 suites and
9,000 square-feet of meeting space along with amenities such as
restaurant, lounge, fitness and spa.
Owing to the saturation in the U.S market, major hoteliers are
exploring growth opportunities abroad. Dubai is a strategic fit
for new properties, given its promising growth opportunity and
inspiring economic performance.
Earlier in March, Starwood transferred its headquarters from
Stamford, CT to Dubai, UAE for one month. This was done with the
clear intent of focusing more on Starwood's growing international
portfolio and exploring new development opportunities in the
Middle East countries.
Commencing its journey in 1963, Starwood now owns 45 hotels in
the Middles East with as many as 14 properties exclusively in
Dubai. The company is expected to unveil six new properties in
Dubai in the coming five years.
Starwood currently carries a Zacks Rank #3 (Hold). Some other
hoteliers, which is going to perform well moving ahead, includes
Home Inns & Hotels Management Inc.
Choice Hotels International Inc.
Intercontinental Hotels Group plc
Home Inns & Hotels Management carries a Zacks Rank #1 (Strong
Buy) while both Choice Hotels and Intercontinental Hotels carries
a Zacks Rank #2 (Buy).
CHOICE HTL INTL (CHH): Free Stock Analysis
HOME INNS&HOTEL (HMIN): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
INTERCONTL HTLS (IHG): Free Stock Analysis
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