Consistent with its brand conversion activity,
Starwood Hotels & Resorts Worldwide Inc.
) recently opened a new property - The Westin Snowmass Resort -
in Snowmass, Colorado. The property opened after an extensive
refurbishment of The Silvertree Hotel & Conference Center.
Snowmass is located in the Roaring Fork river valley in Pitkin
County. The area is a leading destination for summer vacationers,
offering various activities such as white-water rafting,
championship golf courses, hot air balloon rides and hiking. The
Westin Snowmass Resort is located in close proximity to several
local tourist attractions in Snowmass, including three other
adjacent ski areas - Aspen, Aspen Highlands and Buttermilk.
The Westin Snowmass Resort is under joint venture ownership
between Starwood Capital Group and Wasserman Real Estate.
Strategically positioned in the midst of Snowmass village, the
hotel has been fully renovated to incorporate Westin signature
facilities. The 254-room property is sought by travelers looking
for rural attractions and winter skiing or summer recreation.
Colorado, the eighth-largest state in the U.S., has an emerging
tourist industry. Starwood has around 15 hotels in Colorado,
including five under its Westin brand. In August 2015, the
company is expected to open another property - The Westin Denver
International Airport - in Denver city of Colorado. Some of the
major peers of Starwood,
Choice Hotels International Inc.
Hyatt Hotels Corporation
) also have a notable presence in Colorado.
Starwood has set a new trend in hotel design with its Westin
brand, which embodies modern design and peaceful ambience. The
brand also offers signature retail services including the
Heavenly Bed, SuperFoodsRX and WestinWorkout Studio among others.
Westin continues to be a star performer. Opportunities for
conversions are still available across the North American market.
Last month, Starwood opened The Westin New York Grand Central
hotel in New York. The company has many Westin branded hotels
slated to open in North America in the coming years.
These include The Westin Birmingham in Alabama, The Westin
Cape Coral Resort at Marina Village in Florida, The Westin San
Jose in California, The Westin Wilmington in Delaware and The
Westin Cleveland Downtown in Ohio.
CHOICE HTL INTL (CHH): Free Stock Analysis
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
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In the third quarter of 2012, RevPAR (Revenue per Available Room)
growth at Westin was 3.4% in constant dollars, the third highest
among Starwood hotel brands. Westin has a strong global presence,
with properties in North America, Europe, Latin America, India,
Southeast Asia and China. As of now, Westin's portfolio comprises
of more than 186 hotels in over 40 countries and territories.
We currently have long-term Neutral recommendation on Starwood.
Also, it carries a short-term Zacks #3 Rank (Hold).