In an effort to expand the global presence, the Autograph Collection of Marriott International Inc. (MAR - Free Report) will add three new hotels in the U.S. to its growing pool of independently owned and operated high-quality assets this spring. These three properties are located in San Francisco, Lake Arrowhead, CA and Davenport, IA.
Launched in Jan 2010, Autograph Collection’s properties are spread across the United States, Europe, the Caribbean and South America. Since its opening, the brand has been gaining strong momentum.
The concept boasts prestigious properties like Turnberry Isle Miami in Florida, The Algonquin Hotel in New York the Cosmopolitan of Las Vegas, and The Saint Hotel in Louisiana. With the latest inclusions, the Autograph Collection will have 45 hotels worldwide.
Marriott has been adding properties to its collection at an average of one property per month, since inception. This summer, the Autograph Collection will also make an entry into Germany with the opening of the Hotel am Steinplatz, after an extensive makeover. Marriott plans to open its 50th Autograph hotel by year end.
Many owners are willing to renovate or reposition hotels in order to join the Autograph Collection and come under the Marriott brand. As a part of the Marriott group, these properties get to reap the benefits of Marriott’s much greater scale, industry leading reservations and marketing system, as well as rewards loyalty program.
Marriott currently carries a Zacks Rank #3 (Hold). Some other hotel industry stocks currently performing well include Choice Hotels International Inc. (CHH - Free Report) , Wyndham Worldwide Corporation and Intercontinental Hotels Group plc (IHG - Free Report) all with a Zacks Rank #2 (Buy).