Ritz-Carlton, one of the world class luxury brands of Marriott International, Inc. (MAR), is set to unveil a new resort in Bali, Indonesia in association with PT Oriental Indah Bali Hotel Company. Christened The Ritz-Carlton, Bali, the new property is slated to open for business in 2014. The hotel opening will mark a major achievement for Marriott as it will add to its extensive luxury hotels portfolio.
Bali, a province of Indonesia, is one of the world’s leading tourist destinations, blessed with beautiful islands, pristine beaches, scenic beauty and cultural attractions. Nearly 3 million travelers visited Bali in 2012 mainly from Australia, China, Japan, Malaysia and South Korea. Bali is considered one of the richest regions in Indonesia, gaining from its flourishing tourism industry. These were the reasons for Marriott’s decision to expand its Ritz-Carlton brand in the country.
Strategically positioned at the cliff top in Sawagan, Ritz-Carlton, Bali is located near the beach. With 90 guest suites and 14 villas, the resort will provide a spectacular view of the Bali Sea and will offer signature brand amenities including Ritz-Carlton Spa, fitness center, six restaurants and pool bar. The strategic location will enable the hotel to create a strong guest base, going ahead.
Acquired in 1998, the Swiss brand -- Ritz-Carlton -- has grown steadily ever since. It has already made a global presence with nearly 81 properties across 26 countries. In addition to these, The Ritz-Carlton operates three other properties, exclusively in Indonesia. Well known for its upscale hospitality, this Zacks Rank #3 (Hold) company sees the brand as a lucrative target for further expansion.
Owing to the saturation in the U.S. market, various other hoteliers such as Wyndham Worldwide Corp. (WYN), Hyatt Hotels Corp. (H) and Starwood Hotels & Resorts Worldwide Inc. (HOT) are now exploring new growth opportunities in the South Asian markets.Read the Full Research Report on MAR
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