The Ritz-Carlton Hotel Company L.L.C, a wholly owned subsidiary of Marriott international Inc. (MAR), recently announced the opening of its first luxury resort, The Ritz-Carlton, Okinawa, in the tropical island of Okinawa, Japan.
The island of Okinawa is one of the favorite exotic tropical holiday destinations for Japanese visitors. But it remained relatively less visited by the international travelers. The island contains significant championship golf courses and is an ideal spot for waterborne activities owing to the presence of natural emerald water surrounding the place.
The Ritz-Carlton, Okinawa is designed specifically to reflect the Okinawan concept of hospitality. It embraces the unique ambience through its contemporary and landscaping architectural design. The Shurijo face motifs, white walls, distinctive red clay roof tiles and holy water ponds depict the cultural concept of the resort.
The resort has 97 modern guestrooms, two suites with balconies or terraces, spa, a group of restaurants featuring national and international cuisines and a bar. The restaurants include Chura-Nuhji (an Italian fine dining restaurant), Kise (a Teppan-yaki restaurant portraying famous Okinawan beef and local seafood) and Gusuku (an all-day dining restaurant that serves regional, national and international dishes). The Ritz-Carlton Spa by ESPA features four dry treatment rooms, four treatment rooms, outdoor Cabanas and two special Retreat Suites containing fitness center and other amenities.
Management expects the new luxury resort to go well with the company’s other hotels in Tokyo and Osaka. They expect travelers from all over the world to visit the island for either business or pleasure purpose. The Ritz-Carlton currently operates 79 hotels in the America, Europe, Asia, the Middle East, Africa, and the Caribbean.
Based in Bethesda, Maryland, USA, Marriott is a leading lodging company having more than 3,700 properties in 73 countries and territories. It operates and franchises hotels under 15 brands which include Marriott, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, etc. It also has licensed vacation ownership resorts under three additional brands: Marriott Vacation Club, Grand Residences by Marriott, and The Ritz-Carlton Destination Club.
We presently have long term Neutral recommendation on Marriott, which holds a Zacks #2 Rank signifying a short term ‘Buy’ rating. We also have a Zacks #2 for Wyndham Worldwide Corp. (WYN), a competitor of Marriott.
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