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Marriott (MAR) Inaugurates New Aloft Hotel in New York City

MAR H RLH HLT

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Marriott International, Inc. (MAR - Free Report) recently announced the opening of its new hotel under the Aloft brand in Long Island City. The Aloft Long Island City-Manhattan View is the first Aloft property in Long Island City and the fourth in the New York City metropolitan area, after properties in Manhattan and Brooklyn.

The hotel is under the ownership of Select Development while it is managed by Real Hospitality Group. It features over 170 loft-style rooms, flexible meeting space and a vibrant rooftop terrace overlooking the panoramic views of the NYC skyline.

Moreover, the hotel provides the industry-first keyless entry system that enables guests to use their smartphone or Apple watch as a room key, in addition to other amenities like a fitness center, live music at the bar along with a lively food & beverage area.

The Aloft brand offers a tech-forward, lively experience to the next generation of tech-savvy travelers and now has over 100 hotels across 19 countries. It is one of the 30 leading brands under Marriott’s operation. After the successful acquisition of Starwood Hotels & Resorts, Marriott became the world’s largest hotel company spanning across 120 countries with over 6,000 properties.

MARRIOTT INTL-A Price

 

Recently, Marriott reported its third-quarter 2016 results, wherein the bottom line beat the Zacks Consensus Estimate but the top line lagged the same. In fact, the company has surpassed estimates in each of the trailing four quarters with an average beat of 2.78%.

With the economy regaining ground and an improvement in business as well as leisure travel, Marriott is well poised to grow in the near and long term as well. The company’s significant international exposure and an aggressive buyback strategy add to the positives. Further, its investments in technology for hotel bookings would improve guest experience, which in turn, is likely to boost occupancy.

However, lingering political uncertainty in key international markets and significant currency headwinds are affecting most of the hoteliers including Hyatt Hotels Corporation (H - Free Report) and Hilton Worldwide Holdings (HLT - Free Report) , is likely to restrict revenue growth at Marriott too.

Marriott currently carries a Zacks Rank #3 (Hold).

A better-ranked hotel stock is Red Lion Hotels Corporation (RLH - Free Report) whose current year growth estimate is pegged at 48.7% compared to the industry average of 23.4%. Further, it currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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