In collaboration with Arabella Hospitality SE, a management
company for real estate properties,
Starwood Hotels & Resorts Worldwide, Inc.
) recently unveiled the Sheraton Zurich Hotel in Switzerland.
This marks the second opening under this brand in Switzerland.
With this opening, the company gets a step closer to achieving
its target of opening 500 hotels worldwide by 2016.
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Located in Zurich West, the Sheraton Zurich Hotel features 197
guest rooms including 32 suites, a Sheraton club lounge, a Swiss
grill restaurant, a meeting and event space spread over an area
of 600 square meters and a fitness centre. Zurich West is a
financial hub. The ideal positioning of the hotel will attract
both business as well as leisure travelers.
Currently, Starwood's operates six hotels under its four brands
Sheraton, Four Points by Sheraton, W Hotels, and the Luxury
Collection in the city. More than half of Starwood's properties
are situated outside the U.S., which give the company wide
international exposure unlike any of its peers.
Starwood Hotels is consistently trying to expand its global
presence. Recently, the company declared that despite the present
worldwide macroeconomic turmoil, it signed 152 hotel management
and franchise deals in 2013, reflecting an increase of 16% year
over year. This is the company's highest number of hotel signings
in the past six years.
With the rise in global travel demand, Starwood expects 2014 to
be solid in terms of openings and new agreements. The company
will continue to concentrate on fast-growing areas where demand
is substantially high but supply remains limited.
Other hoteliers like
Marriott International Inc.
) are also focusing on domestic and international expansion in
order to withstand competition in the market.
Starwood holds a Zacks Rank #2 (Buy). Other players in the hotel
industry, which look attractive at current levels, include
Hyatt Hotels Corp.
Wyndham Worldwide Corp.
). Both these stocks carry a Zacks Rank #2.