Starwood Hotels & Resorts Inc.
) is set to expand its presence in Thailand with the opening of
Samui Resort in Thailand's second largest island - Koh Samui, under
its Sheraton brand. It has entered into an agreement with TCC
Hotels Group - one of the leading developers in Thailand - to
renovate and convert Imperial Samui Beach Resort to the Sheraton
Samui Resort. This conversion is expected to take place by Dec
This will be Starwood's 7th property in collaboration with TCC
Hotels Group after Le Meridien Angkor, Le Meridien Bangkok, Le
Meridien Chiang Mai, Vana Belle, a Luxury Collection Resort, Koh
Samui and The Westin Kuala Lumpur, a Royal Meridien Hotel.
Post renovation, this sea beach facing resort will feature 141
guest rooms, a swimming pool, a spa, a fitness center and a
restaurant. The resort is close to the Koh Samui International
Airport and easily accessible from places like Hong Kong and
Sheraton Samui Resort will be Starwood's fourth property on Koh
Samui island after the success of Vana Belle, A Luxury Collection
Resort; Koh Samui, W Retreat Koh Samui, and Le Meridien Koh Samui
Resort & Spa. Thailand is a well-known beach destination. It
attracts travelers with its idyllic beaches, vibrant nightlife as
well as world class shopping destinations. This justifies the
company's decision to further expand in the region.
Renovation or remodeling is one of the key growth drivers of
companies in this space. Starwood is comprehensively working on its
assets to offer an advanced and customized travel experience to its
In fact, in these competitive times, most hotel companies across
the globe are trying to augment guest satisfaction and gain a
better foothold in the industry. Hence, brand conversion and
remodeling have become a trend among hoteliers, especially in the
past couple of years. Other hoteliers like Wyndham Worldwide
) and Marriott International, Inc. (
) are also following the same trend.
Starwood presently has a Zacks Rank #3 (Hold). The Marcus
) is a better-ranked stock in the same sector with a Zacks Rank #1
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