Marriott International, Inc. (MAR - Free Report) recently announced the opening of The StateView Hotel in the heart of North Carolina State University's Centennial Campus. Opened in collaboration with Noble Investment Group, the upscale hotel is a part of Marriott’s Autograph Collection Hotels — a distinctive collection of passionately independent hotels.
Located on the tranquil setting of the shores of Lake Raleigh, The StateView provides a supreme outdoor experience and an inventive guest experience driven by high-tech technology as well as interactive spaces.
Along with 164 guest rooms and suites, the hotel also features a fully equipped business center, innovative chef-driven bar and dining experience and more than 10,000 square feet of state-of-the-art meeting and function space for the modern traveler as well as local community.
The StateView is thus a crucial component in the quickly expanding Centennial Campus of North Carolina State University, which is set to house 9 million square feet of top-notch commercial, residential, laboratory and research facilities, upon completion.
Notably, the new hotel opening is in line with Marriott’s consistent efforts to expand its presence in the United States as well as international markets, given a steady rise in business and leisure travel.
Meanwhile, Autograph Collection flaunts more than 110 luxury lifestyle hotels in nearly 30 countries and territories.
In fact, after announcing the acquisition of Starwood Hotels & Resorts on Sep 23, 2016, Marriott has become the world’s largest hotel company. Currently, it has more than 6,200 properties across 125 countries and territories, under 30 brand names. Post-acquisition, shares of the company have also soared 66.8% while the S&P 500 gained 17%.
Additionally, the company believes that the linking of three industry-leading guest loyalty programs — Marriott Rewards, Ritz-Carlton Rewards and Starwood Preferred Guest — would lead to an even larger loyalty community. Further, investments in technology for hotel bookings are likely to improve guest experience and thus boost occupancy.
However, lingering political uncertainties in key international markets along with currency headwinds remain concerns for Marriott and most of the other hotel chains including Hyatt Hotels Corporation (H - Free Report) , Hilton Worldwide Holdings (HLT - Free Report) and Wyndham Worldwide Corporation .
Notwithstanding the headwinds, this Zacks Rank #3 (Hold) company’s continual expansion efforts and an unmatched portfolio of lodging brands, raises optimism in the stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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