A Marriott International, Inc. (MAR - Free Report) unit, Tribute Portfolio recently announced the opening of Sthala, A Tribute Portfolio Hotel, in Ubud Bali. This property will be the first Balinese property under the Tribute Portfolio brand, the collection of aspirational independent hotels and resorts of Marriott.
Situated on a hilltop among the tropical landscape in Lodtunduh, heart of Bali’s sought-after Ubud district, the hotel provides an overview of the magnificent Wos River Valley. Owned by PT. Anugrah Anadya Nirmana, Sthala marks a remarkable addition to the available hotel choices in Indonesia's most popular island destination.
This new upscale hotel features over 140 rooms and suites. It encompasses a design plot that focuses on conventional Balinese elements, while blending impeccably with the natural surroundings of the quaint location. Other amenities include a fitness centre, a spa, a dedicated yoga deck and a 400 square meter function space. Guests can also enjoy at distinctive dining venues such as The Naga Rooftop Bar & Lounge, the Sungai Restaurant and the Panorama Pool and Sundeck Lounge.
The Independent Brand
The Tribute Portfolio brand, which debuted in Apr 2015 with its first hotel in Miami, is establishing itself internationally across diverse cities like Singapore, London, Jakarta, Hokkaido, along with closer to home destinations like Tampa, Denver, San Diego, St. Louis and Houston. The strength of the high-end category Tribute Portfolio hotels is their ability to uphold an independent spirit, while benefitting from Marriott’s leading distribution network, loyalty and sales mechanisms.
MARRIOTT INTL-A Price
In September, Marriott acquired Starwood Hotels & Resorts Worldwide to become the world’s largest hotel company and allow itself huge cost synergies. In fact, the acquisition is expected to result in a bigger brand with increased scale and a robust development pipeline in the long run. Meanwhile, the company’s expanding North American business, significant international exposure and attractive brand position should continue to drive growth. Further, its investments in technology for hotel bookings will improve guest experience, which in turn, should boost occupancy.
However, due to its huge international presence, Marriott is susceptible to large-scale foreign exchange headwinds. Furthermore, lingering political uncertainty in key international markets are affecting most of the hoteliers including Hyatt Hotels Corporation (H - Free Report) , Hilton Worldwide Holdings (HLT - Free Report) , etc. and might restrict revenue growth at Marriott too.
Marriott currently has a Zacks Rank #3 (Hold).
Stock to Consider
A better-ranked hotelier is Red Lion Hotels Corporation (RLH - Free Report) whose current-year growth estimate is pegged at 48.7% compared with the industry average of 23.8%. Also, it 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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