Yahoo Finance Starwood to Open 7th Luxury Collection Hotel in Mexico - Analyst Blog
Starwood Hotels & Resorts Worldwide, Inc. HOT recently broke ground on Solaz resorts under its popular brand, The Luxury Collection at Los Cabos, Mexico. This resort owned by Quinta del Golfo de Cortez, SA de CV and managed by Starwood Hotels & Resorts is scheduled to open in 2017. It will be Starwood’s first Luxury Collection hotel in Los Cabos and the brand’s seventh hotel in Mexico.
Designed by a renowned team of architects, designers and artisans, Solaz will feature 131 guest rooms and suites, three restaurants, pool, beach deck, spa and a fitness center. Moreover, the resort will feature more than 9,900 square feet event space for social and business groups.
The resort is ideally located at the southern-most tip of Baja California Sur. Its main attraction is its climate and geography. The desert meets the sea here. The region’s economy is heavily dependent on tourism and therefore this justifies the company’s decision to open more resorts here. The company has a couple of other hotels in Los Cabos, which include Sheraton Hacienda del Mar Golf & Spa Resort and The Westin Resort & Spa, Los Cabos.
More than half of Starwood’s properties are situated outside the U.S., which gives it a wide international exposure, unlike any of its peers. The demand for hotels in the international market is greater than in the U.S. With the rise in global travel demand and increasing wealth among consumers, Starwood expects 2015 to be solid in terms of openings and new agreements. The company will continue to concentrate on fast-growing areas where demand is substantially high but supply limited.
Other hoteliers like Marriott International, Inc. MAR and Hyatt Hotels Corporation H are also opening a number of hotels overseas.
Starwood Hotels presently has a Zacks Rank #3 (Hold). China Lodging Group, Limited HTHT is a better-ranked stock in the hotel industry sporting a Zacks Rank #1 (Strong Buy).
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