Starwood Hotels & Resorts Worldwide, Inc.
) announced that it is set to open The Westin Doha Hotel &
Spa in Qatar in late 2014. This hotel will mark the entry of the
Westin brand in Qatar. Over the next few years, the company also
plans to introduce the Westin brand in Dubai, Makkah and Aqaba.
The property has around 365 rooms and offers a wide range of
amenities including 92 executive rooms, five private bungalows
and two suites. Other amenities include 2,900 square meters of
ultra-modern event space, a meeting space, a spa, a fitness
center and an all-day dining restaurant.
Located in the city's central business district, this Westin
Property is spread over an area of 49,000 square meters. Owing to
its central location, the hotel is close to all major
transportation and entertainment centers.
Moreover, Qatar is a financial hub. The ideal positioning of the
hotel will attract both business as well as leisure travelers.
These factors taken together justify the company's decision to
expand in the region.
Starwood already operates three hotels in Doha. This
opening will help the company to expand its footprint in the
Middle East. The company targets more than 30 openings in the
Middle East over the next five years. Middle East will become the
second region after North America where the company operates all
Starwood Hotels is consistently trying to expand its global
presence. 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.
Like Starwood, another hotelier
Marriott International, Inc.
) has recently announced the opening of a property in Herzliya,
Israel, thus showing its interest in Middle East region.
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.
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
WYNDHAM WORLDWD (WYN): Free Stock Analysis
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