Starwood Hotels & Resorts Worldwide Inc.
) recently unveiled a Westin branded property, The Westin Panama,
in Panama. Starwood opened this property in association with Bern
Hotels & Resorts; and this new property marks the opening of
second Westin branded property and seventh Starwood branded hotel
Previously Bern Hotels & Resorts was involved in
developing and managing two other Starwood branded property in
Strategically positioned at Costa del Este, one of the most
important financial and business hubs in Panama, the new hotel
lies in proximity to Panama City and Tocumen International
Airport. The Westin Panama features 218 rooms, which includes 45
suites and 14,460 square feet of meeting space.
Starwood has set a new trend in hotel design with its Westin
brand, which embodies modern design and peaceful ambience. The
brand offers signature retail services including the Heavenly
Bed, SuperFoodsRX and WestinWorkout Studio among others.
Owing to the saturation in the U.S market, major hoteliers are
exploring growth opportunities abroad. The current trend shows
that economic strength has been shifting from the developed to
the rapidly growing economies. Latin America is one of those
regions to promise solid growth going forward.
In order to beef up its Latin American presence, the company
has included approximately 2,500 guestrooms in its portfolio in
the last two years. The company's Westin brand continues to be a
star performer in the region. Currently, the company possesses 12
Westin branded property across five Latin American countries
namely Panama, Mexico, Peru, Costa Rica and Guatemala.
Starwood Hotels competes with major hoteliers like
InterContinental Hotels Group
Hyatt Hotels Corporation
Marriott International Inc.
We currently have a long-term Neutral recommendation for the
stock. Starwood currently retains a Zacks Rank #3 (Hold).
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
INTERCONTL HTLS (IHG): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
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