Starwood' s Westin to Enter Egypt

Leading hotelier Starwood Hotels & Resorts Worldwide, Inc. (HOT) can be consistently trying to expand its presence outside the U. S. More than half of Starwood’s properties are situated in the particular international market. In a concerted hard work to strengthen its portfolio in Africa, the hotelier is developing properties in the continent under different brands.

Starwood is set to introduce a Westin-branded property or home — The Westin Cairo Golf Resort & Spa Katameya Dunes — in Egypt, in association with real-estate investment firm New Cairo pertaining to Real Estate Investment Company. Westin is an trendy brand of Starwood, which currently possesses nearly 198 hotels across 40 countries. The new property, slated to have an early 2015 opening, will tag the brand’s entry into the country.

Located 20 moments from Cairo International Airport, the resort will be positioned at New Cairo City District’s luxury residential growth area, Katameya Dunes. We think this property, with 127 guestrooms and several other amenities will make a strong guest base.

Egypt is one of the world’s top tourist destinations, and the country’s tourism industry contributes around 11% of GDP. To tap the growing opportunity, Starwood is expanding its footprint in many emerging African cities. Starwood presently operates 11 hotels in Egypt under Sheraton and Le Méridien brands.

Tourism is really a major revenue driver for many nations of the continent. According to United Nations Entire world Tourism Organization (: UNWTO), the number of international tourists traveling to the Middle Eastern is expected to reach 134 million by 2030. According to UNWTO, Africa along with the Asia-pacific led world global tourism growth in 2013, then Europe. Africa has also been among the key markets for hoteliers like Hyatt Hotels Corp. (H).

Starting its journey in 1971, Starwood now owns as many as 51 resorts across 18 African countries. The organization aims to grow its African profile by more than 30% by opening more than 15 hotels over the following five years.

Starwood recently posted mixed fourth-quarter 2013 results. While the company’s adjusted earnings beat the Zacks Consensus Estimate, its revenue missed the same.

Starwood currently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the hotel industry include Extended Stay The united states, Inc. (STAY) and Marriott International, Inc. (MAR). Both the shares carry a Zacks Rank #2 (Buy).

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Leading hotelier Starwood Hotels & Accommodations Worldwide, Inc. (HOT) is consistently trying to expand its presence outside the U. S. More than half of Starwood’s properties are located in the international market. In a concerted effort to strengthen its profile in Africa, the hotelier can be developing properties in the continent under various brands.

Starwood is set to introduce a Westin-branded property — The Westin Cairo Golf Resort & Spa Katameya Dunes — in Egypt, in association with real-estate investment firm New Cairo for Real Estate Investment Company. Westin is an upscale brand of Starwood, which presently owns nearly 198 hotels across 40 countries. The new property, slated for an early 2015 opening, may mark the brand’s entry in to the country.

Located twenty minutes from Cairo International Airport, the particular hotel will be positioned at Brand new Cairo City District’s luxury home development area, Katameya Dunes. We all believe this property, with 127 guestrooms and several other amenities may create a strong guest base.

Egypt is one of the world’s top tourist destinations, and the country’s tourism industry contributes around 11% of GROSS DOMESTIC PRODUCT. To tap the growing opportunity, Starwood is expanding its impact in most emerging African cities. Starwood currently operates 11 hotels in Egypt under Sheraton and The Méridien brands.

Travel and leisure is a major revenue driver for many nations of the continent. According to Un World Tourism Organization (: UNWTO), the number of international tourists traveling to the Middle East is expected to reach 134 million by 2030. According to UNWTO, Africa along with the Asia-pacific led entire world international tourism growth in 2013, followed by Europe. Africa has also been among the key markets for hoteliers such as Hyatt Hotels Corp. (H).

Beginning its journey in 1971, Starwood now owns as many as fifty-one hotels across 18 African countries. The company aims to grow its African portfolio by more than 30% by opening more than 15 hotels over the next five years.

Starwood recently posted mixed fourth-quarter 2013 results. While the company’s modified earnings beat the Zacks Consensus Estimate, its revenue missed exactly the same.

Starwood currently includes a Zacks Rank #4 (Sell). Some better-ranked stocks in the hotel industry include Extended Stay America, Inc. (STAY) and Marriott International, Inc. (MAR). Both stocks carry a Zacks Position #2 (Buy).

Read the Full Research Report on HOT
Read the Full Research Report upon STAY
Read the Full Study Report on MAR
Read the Full Research Report on L

Zacks Investment Research

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