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. As part of its continued push to
popularize its brand,
Starwood Hotels & Resorts Worldwide Inc.
) is set to introduce an Aloft-branded property in Greenville,
SC. Christened, Aloft Greenville, the hotel is slated for a 2015
opening and will be the second hotel under the brand in the
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Aloft Greenville will be developed by McKibbon Hotel Group - a
premier real estate developer and owner of nationally franchised
hotel brands. Positioned in the heart of South Carolina, the
hotel will be part of the new project to develop Greenville's
The 144-room hotel will offer a state-of-the-art meeting space
and rooftop amenities including an outdoor pool. The hotel is
located in close proximity to many shops and restaurants as well
as the Peace Center for the Performing Arts and the Bon Secours
The hotel is also located next to Greenville's ONE Building -
home to many top corporate firms - and will be constructed over a
470-space public garage. In our opinion, the upscale location and
the newly renovated public plaza on Main Street facing the hotel
will act as major crowd-pullers for the hotel.
Starwood's mid-scale and contemporary lifestyle brand, Aloft has
been riding on a high growth trajectory since its launch in 2008.
The brand has already made its presence in North America, Europe,
the Middle East, Latin America, India, Southeast Asia and China.
The brand is preferred by modern travelers looking for a unique
experience within a reasonable price range.
Starwood is consistently trying to expand its presence
domestically like hoteliers such as
Hyatt Hotels Corporation
InterContinental Hotels Group plc
). Through the Aloft brand, the company plans to target the
boomer generation and the emerging middle classes with higher
The company currently boasts more than 100 Aloft-branded
properties worldwide. Last year was particularly strong for Aloft
as it debuted in locations such as Riyadh, Saudi Arabia and
Suwon-city, South Korea. Recently, Starwood announced that it
will debut the brand in Secaucus, NJ in mid-2016.
Starwood currently has a Zacks Rank #3 (Hold). A better-ranked
stock in the hotel industry is
Marriott International, Inc.
) with a Zacks Rank #2 (Buy).