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New Look for Marriott New Orleans - Analyst Blog
1/3/2013 9:30:00 AM
As a part of its continued brand revitalization initiative,
Marriott International Inc.
) has recently come up with an extensive makeover program for its
New Orleans property at a cost of around $4.5 million.
Renovation work, however, hurts near-term revenue when construction is on. But after the overhaul work, existing properties pay off more.
Marriott is comprehensively working on its assets to offer an upgraded travel experience to its guests. At present, several properties like Marriott St. Louis International Airport, Essex House at Manhattan, Marriott's managed Residence Inn and Courtyard portfolios in the United States are going through an extensive renovation program, which will likely boost RevPAR once fully unveiled.
Marriott currently carries a Zacks #4 Rank (short-term Sell
rating).We reiterate our long-term Neutral recommendation on the
shares of Marriott.
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