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Marriott (MAR) Continues to Strengthen Presence in Japan
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Marriott International, Inc.’s (MAR - Free Report) select brand – Fairfield by Marriott – boosts presence in Japan, with eight new property openings. To this end, the company has collaborated with Sekisui House, (a Japanese developer) to enhance their 'Trip Base' initiative of opening hotels alongside 'Michi-no-Eki' roadside stations.
Notably, the company announced the openings of Fairfield by Marriott Gifu Seiryu Satoyama Park and Fairfield by Marriott Gifu Mino on Oct 6 and Fairfield by Marriott Tochigi Utsunomiya on Oct 7. Furthermore, it plans to open, Fairfield by Marriott Kyoto Kyotamba, Fairfield by Marriott Gifu Gujo, Fairfield by Marriott Mie Mihama, Fairfield by Marriott Tochigi Motegi and Fairfield by Marriott Kyoto Miyazu on Oct 8, Oct 9, Oct 12, Nov 20 and Dec 15, respectively.
Keeping in mind the brand’s priorities, the hotels offer amenities that include lounge and guest rooms. Additionally, complimentary Wi-Fi and optional take-away option for breakfast are provided. However, the hotels might differ depending on the number of room offerings.
In this regard, Rajeev Menon, President, Asia Pacific (excluding China), Marriott International, stated, "These new openings underscore Marriott International's commitment to growing our presence in Japan to serve travelers here. The new hotels will deliver the brand's principles of friendly service and family treatment, giving travelers access to inspiring natural destinations across the country."
In the past six months, shares of Marriott have gained 21.8% compared with the industry’s 28.5% growth.
Increased Focus on Expansion Bodes Well
Marriott is consistently trying to expand presence worldwide and capitalize on the demand for hotels in international markets. The hotel company is also trying to strengthen presence outside the United States, especially in Asia, Latin America, Middle East and Africa. Notably, the demand for hotels in these markets is greater than in the domestic space as the rising disposable income, primarily among the middle classes, is boosting tourism.
At the end of second-quarter 2020, Marriott's development pipeline had nearly 3,000 hotels, with approximately 510,000 rooms. Further, nearly 230,000 rooms were under construction.
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Marriott (MAR) Continues to Strengthen Presence in Japan
Marriott International, Inc.’s (MAR - Free Report) select brand – Fairfield by Marriott – boosts presence in Japan, with eight new property openings. To this end, the company has collaborated with Sekisui House, (a Japanese developer) to enhance their 'Trip Base' initiative of opening hotels alongside 'Michi-no-Eki' roadside stations.
Notably, the company announced the openings of Fairfield by Marriott Gifu Seiryu Satoyama Park and Fairfield by Marriott Gifu Mino on Oct 6 and Fairfield by Marriott Tochigi Utsunomiya on Oct 7. Furthermore, it plans to open, Fairfield by Marriott Kyoto Kyotamba, Fairfield by Marriott Gifu Gujo, Fairfield by Marriott Mie Mihama, Fairfield by Marriott Tochigi Motegi and Fairfield by Marriott Kyoto Miyazu on Oct 8, Oct 9, Oct 12, Nov 20 and Dec 15, respectively.
Keeping in mind the brand’s priorities, the hotels offer amenities that include lounge and guest rooms. Additionally, complimentary Wi-Fi and optional take-away option for breakfast are provided. However, the hotels might differ depending on the number of room offerings.
In this regard, Rajeev Menon, President, Asia Pacific (excluding China), Marriott International, stated, "These new openings underscore Marriott International's commitment to growing our presence in Japan to serve travelers here. The new hotels will deliver the brand's principles of friendly service and family treatment, giving travelers access to inspiring natural destinations across the country."
In the past six months, shares of Marriott have gained 21.8% compared with the industry’s 28.5% growth.
Increased Focus on Expansion Bodes Well
Marriott is consistently trying to expand presence worldwide and capitalize on the demand for hotels in international markets. The hotel company is also trying to strengthen presence outside the United States, especially in Asia, Latin America, Middle East and Africa. Notably, the demand for hotels in these markets is greater than in the domestic space as the rising disposable income, primarily among the middle classes, is boosting tourism.
At the end of second-quarter 2020, Marriott's development pipeline had nearly 3,000 hotels, with approximately 510,000 rooms. Further, nearly 230,000 rooms were under construction.
Marriott — which shares space with Hilton Worldwide Holdings Inc. (HLT - Free Report) , Extended Stay America, Inc. and Hyatt Hotels Corporation (H - Free Report) in the Zacks Hotels and Motels industry — has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>