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Hilton to Open Curio in Asheville; Expand Upscale Brand

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Luxury hotels, an important segment of the general hospitality industry, are undergoing significant expansions of late. Consistent with this trend, Hilton Worldwide Holdings Inc.HLT announced that The Asheville Foundry Inn in North Carolina under its upper upscale brand, Curio - A Collection by Hilton. The hotel, set for a Dec 2016 opening, will be located at Eagle and South Market streets.

The Asheville Foundry Inn will be part of the development project that will keep existing buildings in the downtown area of Eagle and South Market streets to maintain the local culture. Thus, the three adjacent buildings - the Foundry Buildings - which are some of the most significant structures in Asheville, will be part of the hotel development plan.

The 92-room hotel will have a restaurant, a lounge with a library and fireplaces, a luxury spa and well-equipped fitness center, and a modern functional meeting and event space.

Located in the Blue Ridge Mountains of western part of North Carolina, Asheville is the largest city in the region and renowned for its natural beauty, luxurious lifestyle and flourishing art and culture. The Asheville Foundry Inn will be located at the city centre which has become a tourist attraction as some of the most popular art galleries are located here. Hilton is looking to cash in on the demand with the new hotel.

Hilton's decision to open an upscale hotel in Asheville is justified as the demand for such hotels has increased in the U.S. in the recent times, with the gradual improvement in the economy. In the current economic cycle, hotels under the luxury, upper upscale and upscale chains have recovered occupancy levels more quickly and are witnessing better Average Daily Rate. In particular, luxury hotels and upper upscale hotels are anticipated to benefit from a gradual recovery in group activity and record higher occupancy rates.

Hilton currently has a Zacks Rank #3 (Hold). A couple of better-ranked hotel stocks are Red Lion Hotels Corporation RLH and Extended Stay America, Inc. STAY . While Red Lion Hotels sports a Zacks Rank #1 (Strong Buy), Extended Stay has a Zacks Rank #2 (Buy). In the broader leisure services sector, The Marcus Corporation MCS , also a Zacks Rank #2 stock, is worth a look.

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RED LION HOTELS (RLH): Free Stock Analysis Report

MARCUS CORP (MCS): Free Stock Analysis Report

EXTENDED STAY (STAY): Free Stock Analysis Report

HILTON WW HLDG (HLT): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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