We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Marriott (MAR) Ramps Up Luxury Portfolio With New Hotels
Read MoreHide Full Article
Marriott International, Inc. (MAR - Free Report) is solidifying its global standing as a premier luxury provider. The company recently announced its 500th luxury hotel opening — The St. Regis Riyadh. Also, it stated a pipeline of five new hotels (set to open in the final weeks of 2023) and 24 properties (in 2024).
The announcement is in sync with MAR’s commitment to catering to travelers seeking novel destinations, ethical escapes and sustainable travel practices. Also, it emphasized expanding into 'nu-luxury frontiers,' offering boundary-pushing escapes that blend authenticity, adventure and exclusivity.
Emphasis on Expansion
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 boost its collection of luxury brands on a worldwide scale.
In 2023, The Ritz-Carlton showcased expansion in North America, Australia and Japan. St. Regis expanded with properties in Chicago and Riviera Maya, while W Hotels showcased brand evolution in global destinations like Budapest and Sydney. EDITION Hotels expanded into Italy, Singapore and Mexico. The Luxury Collection broadened its reach with destinations, including Madrid, Munich, Nice and Isla Mujeres.
In 2024, MAR is expected to open properties including Nujuma, a Ritz-Carlton Reserve in the Red Sea, and Nekajui, a Ritz-Carlton Reserve on the Papagayo Peninsula in Costa Rica. The Luxury Collection plans to open properties in Madrid, Spain; Munich, Germany; Nice, France; Isla Mujeres, Mexico; Labuan, Indonesia; and Sindalah, Saudi Arabia. Meanwhile, JW Marriott emphasized luxury expansion in Nairobi and Auckland.
Price Performance
Image Source: Zacks Investment Research
Coming to price performance, shares of Marriott have gained 29% in the past year compared with the industry’s 13.2% growth. The company is benefiting from robust leisure demand and solid global booking trends. Also, substantial RevPAR growth in international markets added to the upside.
Going forward, Marriott is focused on launching new reservations, loyalty and property management platforms to boost customer engagement and drive profitability. Earnings estimates for 2024 have increased in the past 60 days, depicting analysts’ optimism in the stock.
Zacks Rank
Marriott currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 57.7% and 187.9%, respectively, from the year-ago levels.
Live Nation Entertainment, Inc. (LYV - Free Report) flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 17.9% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS suggests an increase of 28.6% and 132.8%, respectively, from the prior-year levels.
Cedar Fair, L.P. (FUN - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 67.3% on average. Shares of FUN have declined 2.2% in the past year.
The Zacks Consensus Estimate for FUN’s 2024 sales and EPS implies an improvement of 3.8% and 25%, respectively, from the year-earlier levels.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Marriott (MAR) Ramps Up Luxury Portfolio With New Hotels
Marriott International, Inc. (MAR - Free Report) is solidifying its global standing as a premier luxury provider. The company recently announced its 500th luxury hotel opening — The St. Regis Riyadh. Also, it stated a pipeline of five new hotels (set to open in the final weeks of 2023) and 24 properties (in 2024).
The announcement is in sync with MAR’s commitment to catering to travelers seeking novel destinations, ethical escapes and sustainable travel practices. Also, it emphasized expanding into 'nu-luxury frontiers,' offering boundary-pushing escapes that blend authenticity, adventure and exclusivity.
Emphasis on Expansion
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 boost its collection of luxury brands on a worldwide scale.
In 2023, The Ritz-Carlton showcased expansion in North America, Australia and Japan. St. Regis expanded with properties in Chicago and Riviera Maya, while W Hotels showcased brand evolution in global destinations like Budapest and Sydney. EDITION Hotels expanded into Italy, Singapore and Mexico. The Luxury Collection broadened its reach with destinations, including Madrid, Munich, Nice and Isla Mujeres.
In 2024, MAR is expected to open properties including Nujuma, a Ritz-Carlton Reserve in the Red Sea, and Nekajui, a Ritz-Carlton Reserve on the Papagayo Peninsula in Costa Rica. The Luxury Collection plans to open properties in Madrid, Spain; Munich, Germany; Nice, France; Isla Mujeres, Mexico; Labuan, Indonesia; and Sindalah, Saudi Arabia. Meanwhile, JW Marriott emphasized luxury expansion in Nairobi and Auckland.
Price Performance
Image Source: Zacks Investment Research
Coming to price performance, shares of Marriott have gained 29% in the past year compared with the industry’s 13.2% growth. The company is benefiting from robust leisure demand and solid global booking trends. Also, substantial RevPAR growth in international markets added to the upside.
Going forward, Marriott is focused on launching new reservations, loyalty and property management platforms to boost customer engagement and drive profitability. Earnings estimates for 2024 have increased in the past 60 days, depicting analysts’ optimism in the stock.
Zacks Rank
Marriott currently carries a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks in the Zacks Consumer Discretionary sector are:
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.3% on average. Shares of RCL have surged 109.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 57.7% and 187.9%, respectively, from the year-ago levels.
Live Nation Entertainment, Inc. (LYV - Free Report) flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 17.9% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS suggests an increase of 28.6% and 132.8%, respectively, from the prior-year levels.
Cedar Fair, L.P. (FUN - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 67.3% on average. Shares of FUN have declined 2.2% in the past year.
The Zacks Consensus Estimate for FUN’s 2024 sales and EPS implies an improvement of 3.8% and 25%, respectively, from the year-earlier levels.