Marriott International, Inc. (MAR Quick QuoteMAR - Free Report) recently announced the opening of AC Hotel Guadalajara Mexico and AC Hotel Queretaro Antea. While AC Hotel Guadalajara comprises 188 rooms, AC hotel Queretaro Antea consists of 175 rooms. These two new properties belong to the latest class of lifestyle hotels in the country that have been built keeping in mind the millennial traveler.

The hotels are owned and were developed by Fibra Hotel and are operated by Marriot International. These hotels reflect the beauty of classic modern designs and combine European and local influences. Following the brand’s success in Europe, a joint venture was formed with Marriott international in 2011, which launched AC hotels by Marriott globally in France, Denmark, the United States and then Mexico.

The latest openings are the first for the Caribbean and Latin America region. By the end of 2016, the brand plans to open hotels in Mexico City, Panama City, Santiago in Chile and two hotels in Rio de Janeiro in Brazil, ahead of the summer Olympic Games.

The consistent economic growth in emerging markets like Mexico and the growing affluent middle class are driving both business and leisure travel. Additionally, such emerging markets bring in more international tourists, thus raising brand awareness locally as well as internationally, as well as meeting the demand for leisure travel.

Marriott currently has a Zacks Rank #3 (Hold).

Better-ranked stocks in the same sector are Intrawest Resorts Holdings, Inc. (SNOW Quick QuoteSNOW - Free Report) , Belmond Ltd. and Marriott Vacations Worldwide Corp. (VAC Quick QuoteVAC - Free Report) . While Intrawest Resorts and Belmond sport a Zacks Rank #1 (Strong Buy), Marriott  Vacations Worldwide has a Zacks Rank #2 (Buy).

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