Starwood to Bring W to Amsterdam
Leading hotelier, Starwood Hotels & Resorts Worldwide, Inc. (HOT) set a new trend in hotel designs with the launch of its W brand in 1998. The company now owns 45 W-branded hotels worldwide. W brand rides on a high growth trajectory and has already made a mark in North America, Europe, the Middle East, Latin America, India, Southeast Asia and China.
With 6 properties under the W brand exclusively in Europe, Starwood recently declared its plan to take the brand to Amsterdam, Netherlands in autumn 2015. The upscale property — W Amsterdam — will mark the entry of the brand in the country.
The Netherlands, one of the wealthiest countries in Europe, has a flourishing tourism industry which justifies Starwood’s decision to foray into the country. W Amsterdam will feature 169 rooms with 10 suites and various amenities like spa, fitness center, swimming pool, and a 480 square-feet meeting room with modular furniture. STAG Europe (Grafenau) BV will be the owner of the property.
The hotel will be a refurbishment of a heritage building in Dam Square close to the Royal Palace. We believe the hotel’s strategic location will position it as an ideal leisure and business travel location.
In its 15-year journey, W has performed well in terms of guest satisfaction, reflecting the brand’s strength and growing popularity. The brand targets modern young travelers who seek a unique experience.
In Dec 2013, the hotelier opened a W-branded property — W Verbier — in Verbier, Switzerland. Starwood plans to operate as many as 60 W-branded hotels worldwide by 2017.
Starwood holds a Zacks Rank #3 (Hold). Some better-ranked stocks in the hotels sector include Choice Hotels International Inc. (CHH), Hyatt Hotels Corp. (H) and Wyndham Worldwide Corp. (WYN). All these companies carry a Zacks Rank #2 (Buy).
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