The Ritz-Carlton Hotel Company LLC, one of the world-class luxury brands of Marriott International, Inc. (MAR - Analyst Report), recently announced the opening of a property in Herzliya, Israel. The property, christened The Ritz-Carlton, Herzliya, marks the brand’s debut in the country.
Ideally positioned at Tel Aviv’s Herzliya Marina, the new hotel lies in proximity to the Mediterranean coast and Silicon Valley of Israel. The natural beauty, pristine beaches and economic as well as historical background encouraged Marriott to select Herzliya.
Comprising 115 guest rooms and 82 suites, Ritz-Carlton, Herzliya provides a spectacular view of the Mediterranean Sea and signature brand amenities like Ritz-Carlton Spa, fitness center, six restaurants and pool bar. We believe the hotel’s strategic location will boost both leisure and business travel in the area.
Israel has been one of the world’s leading tourist destinations blessed with beautiful beaches and historical attractions. The tourism industry, contributing about 6.4% of the GDP, is one of the country’s major sources of income. These factors justify Marriott’s decision of bringing its Ritz-Carlton Hotel brand to the country.
Acquired in 1998, the Swiss brand — Ritz-Carlton — has grown steadily ever since. The brand consists of luxurious properties and distinctive resort locations across 26 countries. Currently, Ritz-Carlton owns and manages 85 properties worldwide with as many as 10 hotels exclusively in the Middle East region.
The company presently has a Zacks Rank #2 (Buy). Some better-ranked stocks in the hotels sector include Home Inns & Hotels Management Inc. (HMIN - Snapshot Report) and Orient-Express Hotels Ltd. and Wyndham Worldwide Corporation (WYN - Analyst Report). All these hoteliers carry a Zacks Rank #1 (Strong Buy).