The Ritz-Carlton Hotel Company L.L.C, a wholly owned subsidiary of Marriott International, Inc. (MAR - Analyst Report), is all set to unveil a property in the Island Of Aruba. Christened The Ritz-Carlton, Aruba, the new property is slated to open for business on Nov 2, 2013.
The Ritz-Carlton, Aruba is strategically positioned at the Palm Beach in the eastern coast of Aruba. Located at the southern Caribbean Sea near Venezuela, Aruba is well-known for its scenic beauty and historical background. The flourishing tourism industry of Aruba is a major source of its income.
The Ritz-Carlton, Aruba featuring 320 guestrooms and suites, also has a meeting space. The resort will also offer 4 restaurants, swimming pools, a casino, spa and fitness center.
Washington-based Marriott’s world-class luxury brand, Ritz-Carlton currently manages 81 properties across 26 countries around the world. As of now, The Ritz-Carlton operates as many as 6 hotels exclusively in the Caribbean region.
Owing to the saturation in the U.S market, Marriott is now exploring new growth opportunities in the international market. By 2017, Marriott intends to double the number of its hotels in Latin America and the Caribbean.
Another hotel company Starwood Hotels & Resorts Worldwide Inc. (HOT - Analyst Report) also has a strong presence in the Caribbean region. It currently owns 13 properties in the region with 1 resort named The Westin Resort & Casino in Aruba.
Marriott currently carries a Zacks Rank #3 (Hold). Some other hoteliers that are likely to perform well in the future include Home Inns & Hotels Management Inc. (HMIN - Snapshot Report) and Choice Hotels International Inc. (CHH - Snapshot Report). Home Inns & Hotels Management carries a Zacks Rank #1 (Strong Buy) while Choice Hotels has a Zacks Rank #2 (Buy).