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Starwood (HOT) Launches Sheraton Brand Hotel in Quebec
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Starwood Hotels & Resorts Worldwide, Inc. is looking to expand its largest and globally acclaimed Sheraton brand in Quebec with the signing of the Sheraton Saint-Hyacinthe Hotel.
Owned by Beauward Shopping Centres LTD, Sheraton Saint-Hyacinthe Hotel will be located in Galeries Saint-Hyacinthe – a commercial and office complex comprising 150 stores with 500,000 square feet of retail space. Notably, the hotel is slated to open by the end of 2017.
Sheraton Saint-Hyacinthe will have 205 guest rooms including 28 suites, a third-party restaurant, fitness centre and indoor pool, along with Sheraton Club Lounge – a private space where guests can relish complimentary breakfast, drinks and evening hors d’oeuvres.
Moreover, the hotel will have 3,860 square feet of function space coupled with direct access to the municipal congress centre of Saint-Hyacinthe and Galeries Saint-Hyacinthe.
Notably, in Jun 2015, Starwood had come up with an all-inclusive 10-point plan to put Sheraton Hotels and Resorts firmly back to global limelight.
The company’s five-year vision -- Sheraton 2020 -- includes the commencement of a new enhanced food and beverage lobby program, commitment to improve guest experiences and service, the execution of profit-driving initiatives, and opening of more than 150 new Sheraton hotels worldwide over the next five years. We believe that the signing of Sheraton Saint-Hyacinthe is a step forward toward this goal.
Bottom Line
Notably, Starwood has been witnessing accelerated growth in Quebec and thus the addition of Saint-Hyacinthe Hotel justifies this Zacks Rank #4 (Sell) company’s decision to further expand in the region.
Also, it is to be noted that Starwood has inked a definitive agreement to be acquired by Marriott International, Inc. (MAR - Free Report) , which will lead to the creation of the world's largest hotel company. Both the companies are awaiting approval from Chinese regulatory agency (MOFCOM) for the deal.
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Starwood (HOT) Launches Sheraton Brand Hotel in Quebec
Starwood Hotels & Resorts Worldwide, Inc. is looking to expand its largest and globally acclaimed Sheraton brand in Quebec with the signing of the Sheraton Saint-Hyacinthe Hotel.
Owned by Beauward Shopping Centres LTD, Sheraton Saint-Hyacinthe Hotel will be located in Galeries Saint-Hyacinthe – a commercial and office complex comprising 150 stores with 500,000 square feet of retail space. Notably, the hotel is slated to open by the end of 2017.
Sheraton Saint-Hyacinthe will have 205 guest rooms including 28 suites, a third-party restaurant, fitness centre and indoor pool, along with Sheraton Club Lounge – a private space where guests can relish complimentary breakfast, drinks and evening hors d’oeuvres.
Moreover, the hotel will have 3,860 square feet of function space coupled with direct access to the municipal congress centre of Saint-Hyacinthe and Galeries Saint-Hyacinthe.
STARWOOD HOTELS Price
STARWOOD HOTELS Price | STARWOOD HOTELS Quote
Rationale Behind
Notably, in Jun 2015, Starwood had come up with an all-inclusive 10-point plan to put Sheraton Hotels and Resorts firmly back to global limelight.
The company’s five-year vision -- Sheraton 2020 -- includes the commencement of a new enhanced food and beverage lobby program, commitment to improve guest experiences and service, the execution of profit-driving initiatives, and opening of more than 150 new Sheraton hotels worldwide over the next five years. We believe that the signing of Sheraton Saint-Hyacinthe is a step forward toward this goal.
Bottom Line
Notably, Starwood has been witnessing accelerated growth in Quebec and thus the addition of Saint-Hyacinthe Hotel justifies this Zacks Rank #4 (Sell) company’s decision to further expand in the region.
Also, it is to be noted that Starwood has inked a definitive agreement to be acquired by Marriott International, Inc. (MAR - Free Report) , which will lead to the creation of the world's largest hotel company. Both the companies are awaiting approval from Chinese regulatory agency (MOFCOM) for the deal.
Stocks to Consider
Better-ranked stocks in this sector include PCM, Inc. and Outerwall Inc. . Both the stocks carry a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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