The Ritz-Carlton Hotel Company, L.L.C., a wholly-owned subsidiary of leading worldwide hospitality company, Marriott International, Inc. (MAR) recently unveiled a new luxury resort in Aruba. The Ritz-Carlton, Aruba is the sixth luxury resort in Marriott’s Caribbean & Mexico portfolio.
Located on the Aruba Island’s pristine Palm Beach, this resort has 320 guestrooms which include 55 suites with private balconies. The resort features a spa and a casino and offers a meeting, corporate retreat, and special event space. This exclusive space incorporates indoor and outdoor venues which include salons, poolside decks and a beachside reception area.
Mexico is one of the largest and dynamic international markets for the company comprising 23 hotels across five Marriott brands. Per media reports, Marriott International has recently declared its plans to operate 20 hotels that will be developed by FibraHotel across key Mexican cities by 2016. The Mexican pipeline includes the 124-room Los Cabos, a Ritz-Carlton Reserve; JW Marriott Cabo San Lucas Resort with 300 rooms; Courtyard by Marriott Hermosillo featuring 130 rooms, the 130-room Courtyard by Marriott Los Cabos; the 120-room Fairfield Inn Queretaro; Courtyard by Marriott Queretaro with 140 rooms; and the 160-room AC Hotel Mexico City.
Marriott is consistently trying to expand its presence worldwide. The company has a solid development pipeline and is poised to benefit from the increase in demand for hotels, going forward. A significant portion of the company’s properties are situated outside the U.S. including Asia, Middle East, Europe and Latin America., which gives the company wide international exposure. The company is also planning to strengthen its presence in the emerging markets of Middle East and Africa. Recently, the company entered into a non-binding letter of intent with Cape Town, South Africa-based Protea Hospitality Holdings to buy two Protea hotel brands and the hotel management company that looks after these brands. The acquisition will strengthen the company’s presence in the African market.
Other players in the industry are also looking to expand their portfolio. Recently, Starwood Hotels & Resorts Worldwide Inc. (HOT) announced the opening of a new hotel in Singapore under its Westin brand. The Westin Singapore is the latest addition to Starwood’s more than 40 Westin properties in the Asia Pacific region.
Marriott International presently has a short-term Zacks Rank #2 (Buy). Marriott Vacations Worldwide Corp. (VAC) and Wyndham Worldwide Corp. (WYN) both with a Zacks Rank #2 are also worth considering.
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