Starwood Hotels & Resorts Worldwide, Inc. announced that it is set to open The Westin Doha Hotel & Spa in Qatar in late 2014. This hotel will mark the entry of the Westin brand in Qatar. Over the next few years, the company also plans to introduce the Westin brand in Dubai, Makkah and Aqaba.
The property has around 365 rooms and offers a wide range of amenities including 92 executive rooms, five private bungalows and two suites. Other amenities include 2,900 square meters of ultra-modern event space, a meeting space, a spa, a fitness center and an all-day dining restaurant.
Located in the city’s central business district, this Westin Property is spread over an area of 49,000 square meters. Owing to its central location, the hotel is close to all major transportation and entertainment centers.
Moreover, Qatar is a financial hub. The ideal positioning of the hotel will attract both business as well as leisure travelers. These factors taken together justify the company’s decision to expand in the region.
Starwood already operates three hotels in Doha. This opening will help the company to expand its footprint in the Middle East. The company targets more than 30 openings in the Middle East over the next five years. Middle East will become the second region after North America where the company operates all its brands.
Starwood Hotels is consistently trying to expand its global presence. With the rise in global travel demand, Starwood expects 2014 to be solid in terms of openings and new agreements. The company will continue to concentrate on fast-growing areas where demand is substantially high but supply remains limited.
Like Starwood, another hotelier Marriott International, Inc. (MAR - Free Report) has recently announced the opening of a property in Herzliya, Israel, thus showing its interest in Middle East region.
Starwood holds a Zacks Rank #2 (Buy). Other players in the hotel industry, which look attractive at current levels, include Hyatt Hotels Corp. (H - Free Report) and Wyndham Worldwide Corp. (WYN - Free Report) . Both these stocks carry a Zacks Rank #2.