In collaboration with Grupo Pontianak, a developer of resorts, Starwood Hotels & Resorts Worldwide, Inc. ( HOT ) recently unveiled Puntacana Resort & Club in the Caribbean region under its Westin brand. This marks the entry of the brand in the Dominican Republic and is the sixth Westin resort in the Caribbean.
Located near the Punta Cana International Airport, the resort features 200 rooms and suites and offers other amenities like an outdoor pool, bar, spa, a fitness center and Westin brand's signature menu. The strategic positioning of the hotel coupled with the scenic beauty will likely create a strong guest base, going ahead. Also, these factors justify the company's decision to expand in the region.
This is not the first time that the company is working with Grupo Pontianak. Earlier, the two collaborated for the Four Points brand by Sheraton Puntacana Village Hotel, which was opened in 2012.
Westin brand has a solid global footprint and boasts more than 50 resorts around the world. Recently, the brand unveiled a hotel in Portland, Maine. This hotel is a strategic renovation of a landmark property in the heart of the city. The company spent $50 million to renovate the existing hotel to Westin Portland Harborview.
Starwood is comprehensively working on its assets to offer an advanced and customized travel experience to its guests. Besides new hotel openings, the company is also trying to augment guest satisfaction and gain a better foothold in the industry through brand conversion and remodeling.
Starwood Hotels presently has a short-term Zacks Rank #2 (Buy). Some other stocks worth considering in the hotel industry include Home Inns & Hotels Management Inc. ( HMIN ), Hyatt Hotels Corporation ( H ) and Wyndham Worldwide Corporation ( WYN ). While Home Inns & Hotels and Hyatt Hotels carry a Zacks Rank # 1 (Strong Buy), Wyndham Worldwide holds a Zacks Rank #2.