Yahoo Finance Marriott to Open Londoner Grand in Macao With Sands China
Marriott International, Inc. MAR is set to debut its Luxury Collection brand in Macao, in collaboration with Las Vegas Sands Corp.’s LVS subsidiary Sands China Ltd. The Luxury Collection hotel, Londoner Grand, is expected to open in January 2025.
MAR stock rallied 2.4% during the trading hours and inched up 0.1% in the after-hours on Tuesday, following the collaboration announcement.
Perks of MAR’s New Hotel Opening
Situated in Macao's Cotai Strip, the 2,405 rooms and suites hotel blends the brand’s classic luxurious touch with the city’s local charm, establishing the perfect mix of East-meets-West culture. The rooms and suites of the hotel will embody the grandeur of Georgian architecture, with each bedroom showcasing traditional paneling, elegant linear headboards and marble bathrooms. Every suite will welcome guests with art and accessories inspired by London's Mayfair district.
The location of the Londoner Grand is near Macao’s premier entertainment, shopping and dining districts. The hotel is also near the culturally renowned sites comprising Senado Square, Taipa Houses and Ruins of St. Paul's. The convenient distance from the Macau International Airport and Taipa Ferry Terminal makes the property more attractive.
Furthermore, the dining arrangements at the property include Hampton Court, Chelsea Garden and The Conservatory, offering an exceptional culinary experience to the guests.
Marriott’s Global Expansion Spree
Marriott is one of the leading companies in the luxury and lifestyle space, which includes brands that own nearly 8,785 properties in 139 countries and territories. Backed by its brands’ presence in the global market, the company is consistently trying to expand its presence worldwide and capitalize on the demand for hotels in international markets.
MAR’s global portfolio continues to grow faster than the overall industry supply, with an addition of approximately 15,500 net rooms in the second quarter of 2024. Signing activity remains strong, particularly in Asia Pacific excluding China region (APEC) and Greater China, contributing to a pipeline of more than 559,000 rooms. The company is also trying to strengthen its presence outside the United States, especially in Asia, Latin America, the Middle East and Africa. Its European pipeline has grown consistently in the recent past and is expected to continue going forward.
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MAR’s shares have gained 2.4% in the past three months compared with the Zacks Hotels and Motels industry’s 4.6% growth. The company’s shares have gained 10.1% in the past month, outpacing the industry’s 8.2% growth. Although weaker demand conditions in China are a lingering headwind, ongoing investments in global expansion and inorganic opportunities are likely to aid Marriot in the upcoming period. It expects positive development trends to continue on the back of new development and multiunit conversion opportunities.
MAR’s Zacks Rank
Marriott currently carries a Zacks Rank #3 (Hold).
About LVS
Based in Las Vegas, NV, Las Vegas Sands is a leading international developer of multi-use integrated resorts primarily operating in the United States and Asia. Its integrated resort properties and other assets in Macao are owned and operated by Sands China Ltd., which is a majority-owned subsidiary of the company. Backed by long-term commitment investments, Las Vegas Sands aims to capitalize on the likely structural growth in Macao in the coming years to stay ahead of the curve in terms of the quality and scale of its products and amenities.
LVS delivered a trailing four-quarter earnings surprise of 2.1%, on average. The Zacks Consensus Estimate for its 2024 sales and earnings per share (EPS) indicates growth of 9.8% and 29.6%, respectively, from the previous year’s levels.
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Interface, Inc. TILE currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
TILE has a trailing four-quarter earnings surprise of 65%, on average. The stock has surged 90.8% in the past year. The Zacks Consensus Estimate for TILE’s 2024 sales and EPS indicates growth of 3.9% and 28%, respectively, from the year-ago levels.
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The Zacks Consensus Estimate for NCLH’s 2024 sales and EPS indicates an increase of 9.8% and 125.7%, respectively, from the year-ago levels.
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Marriott International, Inc. (MAR) : Free Stock Analysis Report
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