Sheraton Hotels & Resorts, a division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) , recently opened the Sheraton Grand Hangzhou Binjiang Hotel in Hangzhou, China. The hotel is owned and managed by China Yintai Holdings Co., Ltd.
It is the first new-build property in the brand’s premier line of hotels, which are known for their attractive locations, notable designs, and remarkable service and guest experiences. Sheraton Grand is a part of the Sheraton 2020 plan, which is aimed at strengthening the brand further.
Sheraton Grand Hangzhou Binjiang has 301 guest rooms, which are extensively decorated. It also has suites that overlook the famous West Lake and Xiang Lake. The hotel is located in a very posh location where guests can have extraordinary views of the city and the Qiantang River. Other facilities at the hotel include Fitness Center with Technogym weight-lifting kit and on-duty fitness coaches, plus an indoor heated swimming pool.
Hangzhou will host the G20 summit this year. Therefore, all eyes are on the host country. It is expected to be an important location for Sheraton. Sheraton Grand Hangzhou Binjiang Hotel thus is an important asset in the brand’s tier portfolio.
With more than 440 properties across 75 countries, Sheraton continues to be a global hospitality icon and brand of choice.
Starwood currently has a Zacks Rank #1 (Strong Buy).
With its strong presence, Starwood has become one of the most sought after global brands. The company is now assessing its opportunities in various untapped but highly populated emerging cities. The thriving economy in these regions and the proliferation of small and medium-size businesses are boosting business travel. Moreover, the growing affluence and sophistication of city dwellers is fuelling an 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).
STARWOOD HOTELS (HOT): Free Stock Analysis Report
INTRAWEST RESRT (SNOW): Free Stock Analysis Report
BELMOND LTD (BEL): Free Stock Analysis Report
MARRIOT VAC WW (VAC): Free Stock Analysis Report
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