Starwood Hotels & Resorts Worldwide Inc.
) is continuously expanding in the emerging markets with higher
growth opportunities compared with the mature markets (like the
U.S., U.K., France and Japan). Recently, the hotelier announced the
opening of Sheraton Reserva do Paiva Hotel and Convention Center,
near Brazil's northeast city of Recife.
The Sheraton Reserva do Paiva has been developed by the Portuguese
group Promovalor, and Brazilian group Odebrecht Realizações
Imobiliárias under a long-term management contract with Sheraton
Hotels & Resorts.
The 298-room hotel is close to one of the most scenic beaches in
Northeastern Brazil. It is the first international upper-upscale
hotel in Reserva do Paiva to be located close to Recife.
Additionally, the hotel is located at a convenient distance from
the International Airport of Guararapes and Suape Industrial
Harbour Complex - one of the largest and most well-equipped
convention centers in Northeastern Brazil. In our view, the hotel's
strategic location will attract both leisure and business
The hotel has a Sheraton Shine Spa, a Sheraton Fitness gym, an
exclusive Sheraton Club Lounge, extensive meeting space and two
restaurants. Additionally, the hotel's Beach Club includes a lounge
area with restaurants, cabanas and a swimming pool and beach
The Sheraton Reserva do Paiva expands Sheraton brand's global
portfolio as well as Starwood's footprint in Brazil. The hotelier
currently has eight properties in the country. Even though
Starwood's revenue per available room (RevPAR) growth in Brazil has
been slow, the company expects the ongoing football World Cup to
boost the economic condition of the country.
Starwood currently carries a Zacks Rank #3 (Hold). Better-ranked
stocks in the same industry include
Wyndham Worldwide Corp.
Hilton Worldwide Holdings Inc.
Marriott Vacations Worldwide Corp.
). All these stocks sport a Zacks Rank #2 (Buy).
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