Starwood Hotels and Resorts Worldwide, Inc.
) recently announced that it is set to unveil a hotel in Perth,
Australia under its popular brand Aloft. Owned by BAAC Pty Ltd,
an affiliate of BGC (Australia) Pty Ltd, the Aloft Perth
Rivervale property is a part of the re-development project, under
which a riverfront land will be transformed into a commercial and
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
MARCUS CORP (MCS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Slated to open in late 2016, this property will mark the entry of
the Aloft brand in Australia and will be the third Starwood
property in Perth, following Four Points by Sheraton Perth
(opened in Jun 2012) and The Westin Perth (scheduled to open in
This hotel with 224 rooms will incorporate the brand's signature
bar and offer various amenities like a spa, a fitness center, a
swimming pool, and a 5,920 square-feet meeting space.
Starwood has eleven properties in Australia, of which three are
in South Wales, four in Queensland, one in Western Australia and
three in Victoria.
The global hotel chain sees huge development opportunities in
Australia as it is one of the world's wealthiest countries in the
world. With a limited supply environment, the country is set to
witness a surge in demand for luxury accommodation driven by a
considerable increase in the number of domestic as well as
Australia's consistent GDP growth over the last few years
justifies Starwood's decision to expand in the country. In fact,
Perth - one of the largest cities in Australia -is undergoing a
rapid transformation with the opening of restaurants, bars and
retail outlets and a $750 million investment in its airport. This
could well be one of the reasons for Starwood to choose Perth as
an entry point for the Aloft brand .
Accelerating demand for Aloft has fueled the brand's growth in
global markets. Starwood's mid-scale and contemporary lifestyle
brand, Aloft, has been riding on a high growth trajectory since
its launch in 2008 and has already forayed into Europe, the
Middle East, Latin America, India, Southeast Asia and China.
Aloft is preferred by modern travelers who seek a unique
experience at a reasonable price.
Most hoteliers 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, especially
in the past couple of years. Apart from Starwood Hotels,
Marriott International, Inc.
) is also seeking to tap the rising demand for hotels in
Australia. In fact, last week, Marriott International signed an
agreement with Fast Consortium to develop a project, which
includes a Ritz-Carlton branded hotel and residential apartments
in Elizabeth Quay, Perth. Other hoteliers like
Hyatt Hotels Corporation
) are also consistently trying to expand their international
Starwood presently has a Zacks Rank #3 (Hold). A better-ranked
stock in the hotel industry is
The Marcus Corporation
), which sports a Zacks Rank #2 (Buy).