Marriott (MAR) strengthens its W range with a new hotel in Nashville – October 7, 2021
Marriott International, Inc.‘s (MAR – Free Report) luxury brand – W Hotels – recently announced the opening of W Nashville. Developed by 12th Ave Realty Holding Company LLC, the hotel will offer a range of outdoor experiences along with the W brand services and amenities.
Located in the Gulch district, the 14-story tower comprises 286 rooms and 60 suites with amenities such as a fitness center, dining rooms, a rooftop bar, and event spaces (24,000 sq. Ft. squares). It also comes with a 10,000 square foot WET deck with an impressive 2,000 square foot L-shaped swimming pool with private cabanas. In addition, it offers six-block access to sites, including a neighborhood cafe, two destination restaurants, a future high-end retail business, and a live entertainment venue.
Regarding the launch, David Cronin, Managing Director of W Nashville, said, âThe unique pace of W Hotels is finally ready to play in this Southern capital and will soon become the most sought after destination for locals as well as for others. – guests from the city who want to experience all that this city has to offer. “
Focus on expansion
The company plans to significantly expand its global portfolio of luxury and lifestyle brands. At the end of the second quarter of 2021, Marriott’s development pipeline totaled nearly 2,750 hotels, with approximately 478,000 rooms. Nearly 212,000 rooms were also under construction. In 2021, Marriott expects net room growth to be above its previous expectations of 3-3.5%. It is also seeking to strengthen its presence outside the United States, particularly in Asia, Latin America, the Middle East and Africa.
Image source: Zacks Investment Research
As for price performance, Marriott shares have jumped 54.8% in the past year compared to the industry’s 36.1% growth. The company benefited from the focus on expansion initiatives, digital innovation and the loyalty program. In addition, it has witnessed improved occupancy rates and new bookings in mainland China. In addition, businesses are picking up in most parts of the world. Meanwhile, the company is constantly trying to expand its presence around the world and capitalize on the demand for hotels in international markets. Profit estimates for 2021 have risen over the past 30 days, illustrating the optimism of analysts about its potential for earnings growth.
Zacks rank and choice of keys
Marriott currently holds a Zacks Rank # 3 (Hold). You can see The full list of today’s Zacks # 1 Rank (Strong Buy) stocks here.
Some top-ranked stocks in Zacks’ consumer discretionary sector are Choice Hotels International, Inc. (CHH – Free report), Sonos, Inc. (SO NO – Free report), CalÃ¨res, Inc. (CAL – Free Report), each with a Zacks # 1 rank.
Choice Hotels profits in 2021 are expected to increase by 74.8%.
Sonos has an expected three-to-five-year earnings per share growth rate of 41.9%.
Caleres has a surprise earnings over the last four quarters of 1,001.6% on average.