Starwood Hotels & Resorts Worldwide Inc.
) is set to introduce an Aloft-branded property in New Orleans,
La. Christened - Aloft New Orleans Downtown. The hotel is slated
for a 2015 opening and will mark the brand's entry into the
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Aloft New Orleans Downtown, will be owned by Baronne Complex LLC
- a unit of HRI Properties - and will be managed by HRI Lodging.
Positioned in the heart of New Orleans' commercial district, the
188-room hotel will be built by converting a 30-story building
and an adjacent plot of land into a multi-use complex.
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 North America, Europe, the Middle
East, Latin America, India, Southeast Asia and China. Aloft goes
well with the modern travelers who seek a unique experience.
Additionally, the brand's affordable price point in the
mid-market hotel category is another reason for its increasing
popularity. The company currently boasts more than 75
Aloft-branded properties worldwide. Aloft has seen solid growth
last year as it debuted in various locations including Riyadh,
Saudi Arabia and Suwon-city, South Korea. Recently, Starwood
announced that it will debut the brand in Louisville, Ky. in Apr
Starwood is consistently trying to expand its global presence
like other hoteliers
Hyatt Hotels Corporation
InterContinental Hotels Group plc
). In Jan 2014, the company declared that despite the sluggishly
recovering worldwide economy, it signed 152 hotel management and
franchise deals in 2013, reflecting a 16% year-over-year
Starwood currently has a Zacks Rank #4 (Sell). A better-ranked
stock in the hotel industry is
Marriott International, Inc.
) carrying a Zacks Rank #2 (Buy).