Marriott International, Inc. (MAR - Free Report) recently announced the opening of Roomers Munich in Germany’s burgeoning Westend. Created by Gekko Group, this marks the company’s fourth hotel in the city. Notably, the upscale hotel is a part of Marriott’s Autograph Collection Hotels — a distinctive collection of passionately independent hotels.
Along with 281 guest rooms and suites, the hotel also features unique food and beverage outlet, a spa, seven individual conference rooms, 850 square meter event area and two outdoor terraces. Autograph Collection boasts more than 110 luxury lifestyle hotels in nearly 30 countries and territories in some of the most remarkable destinations around the world.
In fact, 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.
After announcing the acquisition of Starwood Hotels & Resorts on Sep 23, 2016, Marriott became the world’s largest hotel company. Currently, it has more than 6,400 properties across 126 countries and territories, under 30 brand names. Post-acquisition, shares of the company have soared 86.6% while the S&P 500 gained 21.7%.
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 improve 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 (WYN - Free Report) .
Notwithstanding the headwinds, this Zacks Rank #2 (Buy) 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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