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Marriott (MAR) Boosts W Line-up With New Hotel In Nashville

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·3 min read
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Marriott International, Inc.’s MAR luxury brand — W Hotels — recently announced the opening of W Nashville. Developed by 12th Ave Realty Holding Company LLC, the hotel will offer a range of outdoor experiences along with W brand’s services and amenities.

Located in the Gulch neighborhood, the 14-story tower comprises 286 rooms and 60 suites with amenities like a fitness center, dining spaces, a rooftop bar and event spaces (of 24,000 square feet). It also comes with a 10,000 square foot WET Deck featuring an impressive, 2,000 square foot, L-shaped pool with private cabanas. Also, it provides six street access to venues including a neighborhood coffee shop, two destination restaurants and an upcoming high-end retail and a live entertainment venue.

With respect to the launch, David Cronin, general manager, W Nashville, stated, "The unique beat of W Hotels is finally ready to play in this Southern capital and will soon become the most sought-after destination for both locals as well as out-of-town guests who wish to experience all this city has to offer."

Focus on Expansion

The company plans to significantly expand its global portfolio of luxury and lifestyle brands. At the end of second-quarter 2021, Marriott's development pipeline totaled nearly 2,750 hotels, with approximately 478,000 rooms. Nearly 212,000 rooms were also under construction. In 2021, Marriott anticipates net room growth to be toward the higher end of its previous expectation of 3-3.5%. It is also trying to strengthen its presence outside the United States, especially in Asia, Latin America, Middle East and Africa.

Price Performance

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Coming to price performance, shares of Marriott have surged 54.8% in the past year compared with the industry’s 36.1% growth. The company has been benefiting from its focus on expansion initiatives, digital innovation and the loyalty program. Also, it has been witnessing improvement in occupancy and new bookings in Mainland China. Additionally, businesses are picking up in most parts of the world. Meanwhile, the company is consistently trying to expand presence worldwide and capitalize on the demand for hotels in the international markets. Earnings estimates for 2021 have moved up in the past 30 days, depicting analysts’ optimism regarding its bottom-line growth potential.

Zacks Rank & Key Picks

Marriott currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some better-ranked stocks in the Zacks Consumer Discretionary sector are Choice Hotels International, Inc. CHH, Sonos, Inc. SONO, Caleres, Inc. CAL, each sporting a Zacks Rank #1.

Choice Hotels’ 2021 earnings are expected to surge 74.8%.

Sonos has a three-five year expected earnings per share growth rate of 41.9%.

Caleres has a trailing four-quarter earnings surprise of 1,001.6%, on average.

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Marriott International, Inc. (MAR) : Free Stock Analysis Report

Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report

Sonos, Inc. (SONO) : Free Stock Analysis Report

Caleres, Inc. (CAL) : Free Stock Analysis Report

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