Starwood's (HOT) Westin Brand Set To Expand In Australia

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) has entered into an agreement with Sekisui House Australia for developing The Westin Coolum Resort & Spa in Queensland’s Sunshine Coast. The resort, which is situated on the scenic Yaroomba beach, is expected to debut in 2021.

We note that Westin Coolum Resort & Spa is going to be one of the few among the international brands that have beachfront resorts in Australia. Infact it is the first ever five-star hotel in 27years which is going to debut on the Sunshine Coast. Starwood will work along with Sekisui House all through the development process to bring up this multipurpose resort having amenities of retail shops and boutiques, as well as luxury apartments.

The main attractive feature of the resort is that it is very close to the sea just a 200 metres away and guests therefore can directly run into the beach. The resort will also pool travellers with its 220 well furnished rooms, nine suites which are spacious and well equipped with modern amenities. In addition, the resort will provide an assortment of culinary options alongside the brand’s trademark menu.

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With its strong presence, Starwood has become one of the most sought after global brands. The Zacks Rank #1 (Strong Buy) company is now assessing its opportunities in various untapped but highly populated emerging markets. The thriving economy in these regions and the proliferation of small and medium-size businesses are boosting business travel, thus enhancing the traffic growth into the resorts. Moreover, the growing affluence and sophistication of city dwellers is fuelingan uptick in spending on travel and other leisure activities.

Starwood expects 2016 to be strong in terms of openings and new deals supported by the rise in global travel demand and increasing wealth among consumers.

Investors interested in the space may also consider Intrawest Resorts Holdings, Inc. (NYSE:SNOW) , China Belmond Ltd. (NYSE:BEL) and Marriott Vacations Worldwide Corp. (NYSE:VAC) . While Intrawest Resorts and China Belmond sport a Zacks Rank #1, Marriott Vacations Worldwide has a Zacks Rank #2 (Buy).