In order to boost its domestic portfolio, leading hotelier
Starwood Hotels & Resorts Worldwide Inc.
) is set to unveil two properties under its Four Points by
Sheraton and Element brands in New York City borough of Queens,
NY. Christened Four Points by Sheraton Flushing and Element
Flushing, the hotels are slated to open for business in Sep
Starwood is going to develop these properties in association
with Century Construction Group. Ideally situated at Flushing,
the north-central region of the New York City borough of Queens,
the properties will be in proximity to LaGuardia Airport, midtown
Manhattan and several other popular destinations. We believe that
these properties, boasting a total of 296 guestrooms along with
various other amenities, will create a strong guest base, going
New York City is one of the most sought-after locations in the
U.S. and hosts more than 50 million tourists each year. The city
being one of the prime destinations for both leisure and business
travelers, we believe the opening of these properties is a
While Four Points by Sheraton Flushing will mark the opening
of the fourth property under the brand in New York City, Element
Flushing will be the second Element-branded hotel in the
Both the brands belong to Starwood's select-service category -
Specialty Select Brands -particularly designed for catering to
the needs of the mid-market segment. Both the brands' concept is
in sync with the preference of modern travelers who seek a unique
Launched in Jan 1995, Starwood's third-largest brand, Four
Points, currently owns as many as 175 properties across 30
countries. In its nearly 20 years of operation, this brand has
performed satisfactorily in terms of guest satisfaction,
reflecting the brand's strength and growing popularity.
Four Points, which has the second-largest pipeline within
Starwood, intends to enhance its portfolio by 40% by 2018. With
the latest opening, the company has moved a step toward
fulfilling its dream of operating 200 Sheraton properties by the
end of 2014.
The Leadership in Energy and Environmental Design certified
upscale, eco-sustained contemporary brand, Element, first
appeared in 2008. Currently, the brand boasts as many as 11
hotels across the U.S. and has nearly seven properties in the
Owing to a gradual economic recovery, system-wide occupancies
in North America appear to be pretty steady and above the prior
peak level achieved in 2006. Moreover, management expects overall
new supply in developed markets of North America to remain well
below historic rates of growth. These factors justify the
company's decision to expand in the U.S.
Some other hoteliers which are going to perform well, going
Marriott Vacations Worldwide Corp.
Hyatt Hotels Corp.
China Lodging Group, Ltd
). All the stocks carry a Zacks Rank #2 (Buy).
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
CHINA LODGING (HTHT): Free Stock Analysis
MARRIOT VAC WW (VAC): Free Stock Analysis
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