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Marriott (MAR) Expands in Japan With New Ritz-Carlton Hotel
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Marriott International, Inc. (MAR - Free Report) recently announced the opening of The Ritz-Carlton, Fukuoka on the island of Kyushu in Southern Japan. This marks the brands seventh hotel opening in Japan.
Located within the main tower of Fukuoka Daimyo Garden City, the luxury property delivers the hotel chain's unmatched service and modern aesthetic to one of Japan's fastest-growing towns, known for its burgeoning startup industry and its enduring history, customs and exceptional culinary culture.
The hotel comprises 167 guestrooms and provides guests with access to amenities like indoor swimming pool, culinary venues, a gymnasium and a ballroom. The property is in proximity to leisure attractions such as the Shofukuji temple and the Fukuoka Castle ruins.
The management remains upbeat about the hotel opening and anticipates it to further solidify its luxury status in the nation.
Increased Focus on Expansion Bodes Well
Marriott is looking for ways to grow its footprint globally and take advantage of the demand for hotels in other markets. The business intends to grow its collection of luxury and lifestyle brands on a worldwide scale in the future. Marriott's development pipeline included 3,060 hotels with about 502,000 rooms as of the end of the first quarter of 2023. The number of rooms being built was close to 200,000. The company forecasts net room growth in 2023 to be between 4% and 4.5% annually. The hotel chain is attempting to expand its footprint abroad, particularly in Asia, Latin America, the Middle East and Africa.
Price Performance
Image Source: Zacks Investment Research
Coming to price performance, shares of Marriott have gained 33.5% in the past year compared with the industry’s 27% growth. The company is benefiting from solid demand across all the customer segments and expansion plans. During the first quarter, the Asia Pacific region experienced particularly strong demand after travel restrictions were lifted. During the quarter, transient room nights for the leisure segment increased 12%, accompanied by an 8% rise in ADR compared with the previous year’s levels. Also, the recovery in group demand bodes well. With global trends improving, the company expects the recovery momentum to continue in the upcoming periods as well. Earnings estimates for 2022 have increased in the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential.
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 147.9%, on average. Shares of TCOM have increased 49.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and earnings per share (EPS) suggest an increase of 101.6% and 531%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) flaunts a Zacks Rank #1. OSW has a trailing four-quarter earnings surprise of 65.8%, on average. Shares of OSW have increased 70.7% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates a rise of 33.9% and 89.3%, respectively, from the year-ago period’s levels.
Bluegreen Vacations Holding Corporation carries a Zacks Rank #2. The company has a trailing four-quarter earnings surprise of 24.7%, on average. Shares of BVH have increased 54.8% in the past year.
The Zacks Consensus Estimate for BVH’s 2023 sales and EPS indicates a rise of 3.6% and 17.6%, respectively, from the year-ago period’s levels.
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Marriott (MAR) Expands in Japan With New Ritz-Carlton Hotel
Marriott International, Inc. (MAR - Free Report) recently announced the opening of The Ritz-Carlton, Fukuoka on the island of Kyushu in Southern Japan. This marks the brands seventh hotel opening in Japan.
Located within the main tower of Fukuoka Daimyo Garden City, the luxury property delivers the hotel chain's unmatched service and modern aesthetic to one of Japan's fastest-growing towns, known for its burgeoning startup industry and its enduring history, customs and exceptional culinary culture.
The hotel comprises 167 guestrooms and provides guests with access to amenities like indoor swimming pool, culinary venues, a gymnasium and a ballroom. The property is in proximity to leisure attractions such as the Shofukuji temple and the Fukuoka Castle ruins.
The management remains upbeat about the hotel opening and anticipates it to further solidify its luxury status in the nation.
Increased Focus on Expansion Bodes Well
Marriott is looking for ways to grow its footprint globally and take advantage of the demand for hotels in other markets. The business intends to grow its collection of luxury and lifestyle brands on a worldwide scale in the future. Marriott's development pipeline included 3,060 hotels with about 502,000 rooms as of the end of the first quarter of 2023. The number of rooms being built was close to 200,000. The company forecasts net room growth in 2023 to be between 4% and 4.5% annually. The hotel chain is attempting to expand its footprint abroad, particularly in Asia, Latin America, the Middle East and Africa.
Price Performance
Image Source: Zacks Investment Research
Coming to price performance, shares of Marriott have gained 33.5% in the past year compared with the industry’s 27% growth. The company is benefiting from solid demand across all the customer segments and expansion plans. During the first quarter, the Asia Pacific region experienced particularly strong demand after travel restrictions were lifted. During the quarter, transient room nights for the leisure segment increased 12%, accompanied by an 8% rise in ADR compared with the previous year’s levels. Also, the recovery in group demand bodes well. With global trends improving, the company expects the recovery momentum to continue in the upcoming periods as well. Earnings estimates for 2022 have increased in the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential.
Zacks Rank and Other Stocks to Consider
Marriott currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Zacks Consumer Discretionary sector are as follows:
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 147.9%, on average. Shares of TCOM have increased 49.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and earnings per share (EPS) suggest an increase of 101.6% and 531%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) flaunts a Zacks Rank #1. OSW has a trailing four-quarter earnings surprise of 65.8%, on average. Shares of OSW have increased 70.7% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates a rise of 33.9% and 89.3%, respectively, from the year-ago period’s levels.
Bluegreen Vacations Holding Corporation carries a Zacks Rank #2. The company has a trailing four-quarter earnings surprise of 24.7%, on average. Shares of BVH have increased 54.8% in the past year.
The Zacks Consensus Estimate for BVH’s 2023 sales and EPS indicates a rise of 3.6% and 17.6%, respectively, from the year-ago period’s levels.