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Second JW Marriott in Mexico City

Zacks Equity Research

JW Marriott Hotels & Resorts brand, one of the world class luxury brands of Marriott International, Inc. (MAR), recently announced the opening of its second hotel JW Marriott Mexico City Santa Fe in Mexico City.

The luxury hotel comprises 221 rooms and is located in the upscale Santa Fe residential neighborhood and is well-connected to shopping, entertainment and large international office complexes. JW Marriott already operates a hotel in Mexico City named JW Marriott Mexico City.

JW Marriott Mexico City Santa Fe hotels’ rooms and suites are well equipped with basic and luxurious amenities. The dining and recreation section features two restaurants - Cua (an organic Mexican fine dining restaurant with fusion flavors from Asian, Mediterranean and Latin American cuisine) and Quattro (an authentic Italian menu inspired by the Piamonte region of Italy). The hotel has guests’ relaxation and fitness facilities along with a lobby bar, 24 hours executive lounge for executive level rooms guests’ and others.

The JW Marriott Mexico City Santa Fe hotel has variety of meeting spaces spanning more than 13,100 square feet and is well connected to the international office complexes and the financial districts of Mexico City.

JW Marriott is a part of Marriott's luxury portfolio and consists of luxurious properties and distinctive resort locations across the world. The hotels cater to the modern business and leisure travelers, offering them splendid comfort along with lavish and pleasant atmosphere. As of now, there are 55 JW Marriott hotels in 23 countries and Marriott expects to expand the brand to 78 properties in 28 countries by 2015.

Owing to the saturation in the U.S market, major hoteliers are exploring growth opportunities in the international markets. The current trend shows that the economic balance of power has been shifting from the developed world to the rapidly growing economies and this transition has not escaped Marriott’s notice. Going by this trend, Central and South America promise solid growth going forward.

However, Marriott’s competitors are also in an expansion mode and this is something to be wary of. Recently, Four Points by Sheraton, one of the upscale hotel brands of Starwood Hotels & Resorts Worldwide Inc. (HOT) inaugurated its third property in Mexico. Several other major hoteliers like InterContinental Hotels Group (IHG) and Hyatt Hotels Corporation (H) are also poised to beef up their portfolio in that region, thus making the market competitive.

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 including 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 a long-term Neutral recommendation on Marriott, which holds a Zacks #1 Rank signifying a short term ‘Strong Buy’ rating.

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