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Marriott (MAR) Plans to Expand Luxury Hotels Footprint in 2022
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Marriott International, Inc. (MAR - Free Report) is committed to strengthening its position in the hospitality industry through expansion. Progressing along such line, the company announced that it expects to debut more than 30 luxury hotels in 2022.
Marriot, with more than 460 landmark luxury hotels as well as resorts in 68 countries and territories, intends to expand its luxury footprint with approximately 190 properties in the development pipeline, which includes the 30 hotels anticipated to open in 2022. The company will open luxury hotels in iconic as well as developing destinations from Mexico to Portugal and Australia to South Korea.
The company stated that The Ritz-Carlton brand continues to drive growth and set the standard for luxury hospitality. In 2021, the brand was introduced in Maldives, Turks & Caicos and Mexico City. In 2022, the brand is slated to expand its footprint in Arizona with The Ritz-Carlton Paradise Valley, The Palmeraie as well as in New York City. The Ritz-Carlton, Melbourne, is likely to increase in its presence in Australia.
The company stated that it expects to open The St. Regis Marsa Arabia Island, The Pearl in Qatar. In 2022, St. Regis is slated to debut in Chicago. In 2021, W Hotels expanded its presence to Nashville, Osaka, Philadelphia, Melbourne, Xiamen and Rome. In 2022, W Hotel is slated to open in Algarve, Sydney, Dubai and Toronto.
Chris Gabaldon, senior vice president, Luxury Brands, Marriott International, stated, “From the world's most desirable destinations to undiscovered gems, we strive to go beyond offering moments of transformation for our guests and hope to create experiences that will inspire a newfound sense of personal wellbeing and joy.”
Shares of Marriott have gained 22.3% in the past year compared with the industry’s growth of 15.1%.
Image Source: Zacks Investment Research
Expansions are Major Growth Drivers
The Zacks Rank #3 (Hold) company is consistently trying to expand worldwide presence and capitalize on the demand for hotels in international markets. Moving ahead, the company plans to significantly expand the global portfolio of luxury and lifestyle brands.
In September, the company stated that it is planning to add more than 2,700 rooms in India, Bhutan, Bangladesh, Sri Lanka, Maldives and Nepal. Marriot, which has the largest number of rooms in South Asia, continues to anticipate robust growth with new signings.
In India, Marriott is planning to open W Jaipur, JW Marriott Chennai ECR Resort & Spa, JW Marriott Agra Resort & Spa, JW Marriott Goa and JW Marriott Shimla Resort & Spa. The company's Select Brands is expecting to open Courtyard by Marriott Gorakhpur, Courtyard by Marriott Tiruchirappalli, Courtyard by Marriott Goa Arpora and Courtyard by Marriott Ranchi in the next five years. It will also debut Moxy Mumbai Andheri West in 2023.
The company’s premium brands in South Asia are likely to witness growth with the opening of Katra Marriott Resort & Spa in India, the Le Meridien Kathmandu and Bhaluka Marriott Hotel in Bangladesh.
At the end of third-quarter 2021, Marriott's development pipeline totaled nearly 2,769 hotels, with approximately 477,000 rooms. Nearly 206,000 rooms were under construction. During third-quarter 2021, the company added 114 new properties (17,456 rooms) to its worldwide lodging portfolio.
Key Picks
Some better-ranked stocks in the Consumer Discretionary sector include Hilton Grand Vacations Inc. (HGV - Free Report) , Bluegreen Vacations Holding Corporation and Camping World Holdings, Inc. (CWH - Free Report) .
Hilton Grand Vacations sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 411.1%, on average. Shares of the company have jumped 14% in the past three months. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Hilton Grand Vacations’ current financial-year sales and earnings per share (EPS) suggests growth of 222.1% and 153%, respectively, from the year-ago period’s levels.
Bluegreen Vacations flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 695%, on average. Shares of the company have surged 35.5% in the past three months.
The Zacks Consensus Estimate for Bluegreen Vacations' current financial year sales and EPS indicates growth of 27.5% and 199.3%, respectively, from the year-ago period’s levels.
Camping World carries a Zacks Rank #2 (Buy). The company is benefiting from the launch of a new peer-to-peer RV rental marketplace and a mobile service marketplace. It has been investing heavily in product development.
Camping World has a trailing four-quarter earnings surprise of 70.9%, on average. Shares of the company have appreciated 5.4% in the past three months. The Zacks Consensus Estimate for CWH’s current financial year sales and EPS suggests a rise of 25.9% and 77.6%, respectively, from the year-ago period’s levels.
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Marriott (MAR) Plans to Expand Luxury Hotels Footprint in 2022
Marriott International, Inc. (MAR - Free Report) is committed to strengthening its position in the hospitality industry through expansion. Progressing along such line, the company announced that it expects to debut more than 30 luxury hotels in 2022.
Marriot, with more than 460 landmark luxury hotels as well as resorts in 68 countries and territories, intends to expand its luxury footprint with approximately 190 properties in the development pipeline, which includes the 30 hotels anticipated to open in 2022. The company will open luxury hotels in iconic as well as developing destinations from Mexico to Portugal and Australia to South Korea.
The company stated that The Ritz-Carlton brand continues to drive growth and set the standard for luxury hospitality. In 2021, the brand was introduced in Maldives, Turks & Caicos and Mexico City. In 2022, the brand is slated to expand its footprint in Arizona with The Ritz-Carlton Paradise Valley, The Palmeraie as well as in New York City. The Ritz-Carlton, Melbourne, is likely to increase in its presence in Australia.
The company stated that it expects to open The St. Regis Marsa Arabia Island, The Pearl in Qatar. In 2022, St. Regis is slated to debut in Chicago. In 2021, W Hotels expanded its presence to Nashville, Osaka, Philadelphia, Melbourne, Xiamen and Rome. In 2022, W Hotel is slated to open in Algarve, Sydney, Dubai and Toronto.
Chris Gabaldon, senior vice president, Luxury Brands, Marriott International, stated, “From the world's most desirable destinations to undiscovered gems, we strive to go beyond offering moments of transformation for our guests and hope to create experiences that will inspire a newfound sense of personal wellbeing and joy.”
Shares of Marriott have gained 22.3% in the past year compared with the industry’s growth of 15.1%.
Expansions are Major Growth Drivers
The Zacks Rank #3 (Hold) company is consistently trying to expand worldwide presence and capitalize on the demand for hotels in international markets. Moving ahead, the company plans to significantly expand the global portfolio of luxury and lifestyle brands.
In September, the company stated that it is planning to add more than 2,700 rooms in India, Bhutan, Bangladesh, Sri Lanka, Maldives and Nepal. Marriot, which has the largest number of rooms in South Asia, continues to anticipate robust growth with new signings.
In India, Marriott is planning to open W Jaipur, JW Marriott Chennai ECR Resort & Spa, JW Marriott Agra Resort & Spa, JW Marriott Goa and JW Marriott Shimla Resort & Spa. The company's Select Brands is expecting to open Courtyard by Marriott Gorakhpur, Courtyard by Marriott Tiruchirappalli, Courtyard by Marriott Goa Arpora and Courtyard by Marriott Ranchi in the next five years. It will also debut Moxy Mumbai Andheri West in 2023.
The company’s premium brands in South Asia are likely to witness growth with the opening of Katra Marriott Resort & Spa in India, the Le Meridien Kathmandu and Bhaluka Marriott Hotel in Bangladesh.
At the end of third-quarter 2021, Marriott's development pipeline totaled nearly 2,769 hotels, with approximately 477,000 rooms. Nearly 206,000 rooms were under construction. During third-quarter 2021, the company added 114 new properties (17,456 rooms) to its worldwide lodging portfolio.
Key Picks
Some better-ranked stocks in the Consumer Discretionary sector include Hilton Grand Vacations Inc. (HGV - Free Report) , Bluegreen Vacations Holding Corporation and Camping World Holdings, Inc. (CWH - Free Report) .
Hilton Grand Vacations sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 411.1%, on average. Shares of the company have jumped 14% in the past three months. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Hilton Grand Vacations’ current financial-year sales and earnings per share (EPS) suggests growth of 222.1% and 153%, respectively, from the year-ago period’s levels.
Bluegreen Vacations flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 695%, on average. Shares of the company have surged 35.5% in the past three months.
The Zacks Consensus Estimate for Bluegreen Vacations' current financial year sales and EPS indicates growth of 27.5% and 199.3%, respectively, from the year-ago period’s levels.
Camping World carries a Zacks Rank #2 (Buy). The company is benefiting from the launch of a new peer-to-peer RV rental marketplace and a mobile service marketplace. It has been investing heavily in product development.
Camping World has a trailing four-quarter earnings surprise of 70.9%, on average. Shares of the company have appreciated 5.4% in the past three months. The Zacks Consensus Estimate for CWH’s current financial year sales and EPS suggests a rise of 25.9% and 77.6%, respectively, from the year-ago period’s levels.