Marriott International, Inc.’s ( MAR Quick Quote MAR - Free Report) Edition brand is planning to expand its presence globally by the end of 2022. Recently, the company announced the anticipated opening of eight new properties across three continents. Currently, the brand has 11 properties under operation. Going forward, the company plans to open The Reykjavik EDITION in mid-2021. It also plans to open The Tokyo EDITION (Ginza), The Rome EDITION and The Dubai EDITION in late 2021. In early 2022, the company plans to open The Madrid EDITION and The Tampa EDITION. Meanwhile, The Riviera Maya EDITION (at Kanai) and The Doha EDITION are likely to open in mid and late 2022, respectively. Given the global scale and operational expertise of Marriot, the brand is likely to benefit in the times ahead. Meanwhile, Marriott is consistently trying to expand presence worldwide and capitalize on the demand for hotels in international markets. At the end of fourth-quarter 2020, its development pipeline had nearly 2,900 hotels, with more than 498,000 rooms. Further, nearly 229,000 rooms were under construction. Moreover, the hotel company is trying to strengthen presence outside the United States, especially in Asia, Latin America, Middle East and Africa. Within Asia-Pacific, China promises immense growth potential, despite the economic slowdown. Also, the company’s European pipeline has grown consistently in the recent past and is expected to continue the same, going forward. In 2021, the company anticipates net room growth in the range of 3-3.5%. Price Performance
Coming to price performance, shares of Marriott have gained 17.3% in the past three months compared with the
industry’s 13.9% growth. Notably, the company is benefitting from continuous focus on expansion initiatives, digital innovation and loyalty program. Also, the company is witnessing improvement in occupancy and new bookings in Mainland China. Also, businesses are picking up. Earnings estimates for 2022 have moved up in the past 60 days, depicting analysts’ optimism regarding the stock’s growth potential. Zacks Rank & Key Picks
Marriott currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Some better-ranked stocks in the Zacks Consumer Discretionary sector include Wyndham Hotels & Resorts, Inc. ( WH Quick Quote WH - Free Report) , TEGNA Inc. ( TGNA Quick Quote TGNA - Free Report) and Fox Corporation ( FOXA Quick Quote FOXA - Free Report) , each sporting a Zacks Rank #1. Wyndham’s 2021 earnings are expected to surge 96.1%. TEGNA has three-five-year earnings per share growth rate of 10%. Fox has a trailing four-quarter earnings surprise of 80.5%, on average. Breakout Biotech Stocks with Triple-Digit Profit Potential
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