Starwood's Element to Debut in Fargo, N.D - Analyst Blog
December 24 2013 - 4:00PM
Zacks
Starwood Hotels & Resorts Worldwide, Inc.
(HOT) recently declared its plan to take its Element brand to
Fargo, North Dakota in Nov 2005, thus marking the entry of the
brand in the state.
This 130 rooms hotel features one bedroom suites and various
amenities like spa, fitness center, swimming pool, and a 453
square-feet meeting room with modular furniture. The hotel is
located close to the Sanford Fargo Medical Center, currently under
development, and Microsoft Corporation’s second largest campus in
North America.
Fargo, located in the southeastern part of the state, is witnessing
rapid growth in the financial, software and energy sectors. We
believe the hotel’s strategic location will boost both leisure and
business travel in the area. This could well be one of the reasons
that the company chose Fargo. It also justifies Starwood’s decision
to bring its Element brand to the city.
The brand is known for its eco-friendly and sustainable designs and
natural light and open spaces. Element is the first major hotel to
embrace the U.S. Green Building Council’s Leadership in Energy and
Environmental Design (LEED) standards.
Apart from owning 11 hotels in the U.S. and Canada, the brand has
several domestic and international properties in the pipeline.
Starwood is comprehensively working on its assets to offer an
advanced and customized travel experience to its guests. Besides
making new hotel openings, the company is also trying to augment
guest satisfaction and gain a better foothold in the industry
through brand conversion and remodeling. Recently, the company
opened a hotel in Jacksonville, Fla. under its popular brand name
Four Points by Sheraton after investing $2.0 million on its
renovation.
Going forward, Starwood is poised to benefit from the economic
recovery and steady rise in demand for hotels. Also, we believe,
the company’s increased strong developmental pipeline and
significant international exposure are positives for the stock.
Starwood Hotels presently has a short-term Zacks Rank #2 (Buy).
Some other stocks worth considering in the hotel industry include
Home Inns & Hotels Management Inc. (HMIN),
Orient-Express Hotels Ltd. (OEH) and
Marriott International, Inc. (MAR). While Home
Inns & Hotels and Orient-Express Hotels carry a Zacks Rank #
1(Strong Buy), Marriott International holds a Zacks Rank #2.
HOME INNS&HOTEL (HMIN): Free Stock Analysis Report
STARWOOD HOTELS (HOT): Free Stock Analysis Report
MARRIOTT INTL-A (MAR): Free Stock Analysis Report
ORIENT EXP HOTL (OEH): Free Stock Analysis Report
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