Starwood Opens Aloft In Raleigh-Durham, NC

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) recently announced the opening of its fourth Aloft brand hotel in Raleigh-Durham. The Raleigh-Durham Airport Brier Creek is just minutes away from the Raleigh-Durham International Airport (RDU) and the surrounding Research Triangle Park region of North Carolinas.

Owned and managed by Narsi Properties, the newly-opened hotel l has 144 spacious rooms, offers accessible technologies and live music at W XYZ Bar. This hotel will attract both business class and leisure tourists, who crave for a stylish, tech-forward experience in unmatched location.

Starwood has around 1,300 hotels as well as vacation ownership and residential properties in 100 countries of which Aloft is one of the fastest growing brands -- 100 hotels in 16 countries. After the recent agreements of Aloft hotel on Palm Jumeirah in offshore Dubai, the brand is set to expand in key global markets with many additional hotels set to open by next year.

The, Aloft brand caters to modern travelers who seek a unique experience. Its affordable price point in the mid-market hotel category is another reason for its increasing popularity.. In terms of brands Starwood’s Aloft, recorded for RevPAR growth of 2.8% in the first quarter.

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 fueling 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).