In order to bolster its presence in the U.S.,
Starwood Hotels & Resorts Worldwide Inc.
) recently unveiled its 1
Westin branded (upper/ upscale luxury brand) property - The
Westin Sacramento - in Sacramento, Calif. The Westin branded
property, previously known as Le Rivage Hotel, was re-opened
after an extensive refurbishment worth $3.2 million.
Strategically positioned next to the Sacramento River, the
100-room hotel is next to the Sacramento Convention Center
Complex and the campus of California State University and in
close proximity to Sacramento International Airport (SMF). The
Westin Sacramento provides various amenities like an outdoor
pool, bar, fitness center, spa and a meeting place measuring
7,000 square feet.
We believe the opening of the latest property is a strategic
fit as Sacramento, the capital of California, is a key trading
hub, which boosts business travel in the area. Moreover, the
closeness of the property to some of the major cultural
attractions that the U.S. offers is likely to attract more
leisure travelers. Starwood already owns and operates 2 other
properties in Sacramento under two brands, Sheraton and Four
Points by Sheraton.
Several other hoteliers including
Hyatt Hotels Corporation
Wyndham Worldwide Corp.
Marriott International Inc.
) made their presence felt in this region.
This Zacks Rank #3 (Hold) company has set a new trend in hotel
designs with its Westin brand and has spread its operations
globally with more than 192 hotels in over 40 countries. The
brand rides on a high growth since its launch.
In the fourth quarter of 2012, the revenue per available room
(RevPAR) growth at Westin was 4.2% in constant dollars, the 3rd
highest among the company's all the other brands. Starwood is
continuously trying to boost its Westin brand, which is likely to
reach the benchmark of 200 hotels worldwide by 2013.
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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