Marriott International Inc. (MAR - Analyst Report), unveiled a property under its Marriott Hotels & Resorts brand in Bangalore, India, on Feb 4, 2013. Christened as Bengaluru Marriott Hotel Whitefield, the hotel marks the debut of Marriott Hotels & Resorts brand in the city.
Situated strategically, in proximity to Bengaluru International Airport and city centre, Bengaluru Marriott Hotel Whitefield is located in Whitefield, a major IT as well as economic hub in India. Thus, the hotel enjoying a prime location, is ready to serve business as well as leisure travelers.
Bengaluru Marriott Hotel Whitefield featuring as many as 324 guestrooms and 17 suites including one presidential suite, also has a meeting space covering an area of 10,000 sq. ft. The hotel also comprises restaurant, café, spa and fitness center facilities.
Marriott’s expansion plan in Bangalore is mainly driven by the city’s strong business growth, especially in the IT sector and an increasing hospitality industry.
This hotel launch is in line with the company’s strategy to extend its footprint in India. Marriott Hotels & Resorts brand currently owns and operates 500 hotels across 54 countries with five properties in India.
Earlier, in January, the company launched Shanghai Marriott Hotel Pudong East, a Marriott Hotels & Resorts branded property in Shanghai, China, in association with Shanghai Hengchang Industry Co., Ltd. With this addition, the brand is now operating 14 hotels in China.
Marriott currently carries a Zacks Rank #3 (Hold). The company is scheduled to report its fourth-quarter and full year 2012 results on February 19, 2013.
Another hotel company Wyndham Worldwide Corporation (WYN - Analyst Report) recently declared its fourth quarter 2012 adjusted earnings of 63 cents per share, ahead of the Zacks Consensus Estimate of 60 cents per share and up 34% year over year. Wyndham currently carries a Zacks Rank #2 (Buy).
There are various other hoteliers who are also trying to expand their businesses further including The Marcus Corporation (MCS - Snapshot Report) and Choice Hotels International Inc. (CHH - Snapshot Report) which carry a Zacks Rank #1 (Strong Buy) and a Zacks Rank #2 (Buy), respectively.