Marriott Boosts EDITION Line-Up With Second Property in Shanghai

Marriott International, Inc. MAR recently announced an agreement with New Development Group to open its second EDITION-branded hotel in Shanghai. The move underscores Marriott’s strategic focus on leveraging high-growth urban markets to strengthen its foothold in Greater China. The company looks forward to opening the property in 2026.Located on Suzhou Creek in the Putuo district, adjacent to Changfeng Park, the luxury lifestyle hotel will likely comprise 278 luxurious guest rooms, including three bespoke restaurants and two sophisticated bars. It will also offer amenities like a swimming pool, spa, state-of-the-art gym and meeting studios.Bart Buiring, managing director of Luxury, Greater China at Marriott International, highlighted Shanghai's status as one of the world's most vibrant and exciting destinations. He emphasized that the collaboration with New Development Group to introduce the second EDITION Hotel in the city marks a significant addition to Marriott's luxury portfolio in Greater China.With its modern elegance and exceptional service, the Shanghai EDITION, Changfeng Park, aims to cater to travelers seeking unique, high-end experiences. The property is positioned to become a key addition to Marriott's growing luxury portfolio, which already includes over 70 hotels across Greater China.More Focus on MAR’s ExpansionMarriott is consistently trying to expand its presence worldwide and capitalize on the demand for hotels in international markets. The company plans to expand its global portfolio of luxury and lifestyle brands. At the end of the third-quarter 2024, Marriott's development pipeline totaled nearly 3,800 hotels, with approximately 585,000 rooms. Nearly 220,000 rooms were under construction. During the quarter, the company added roughly 16,000 rooms to its worldwide lodging portfolio.In 2024, Marriott anticipates net room growth to be approximately 6.5%. The hotel company is trying to strengthen its presence outside the United States, especially in Asia, Latin America, the Middle East and Africa.Price Performance of Marriott StockImage Source: Zacks Investment ResearchComing to price performance, shares of Marriott have gained 35.2% in the past year compared with the industry’s 34.7% rise. The company benefited from robust leisure demand and business and cross-border travel improvements. During the third quarter of 2024, the company reported steady performance in the United States and Canada as well as a rise in group bookings. Business transient demand increased and leisure transient revenue per available room remained above pre-pandemic levels. Marriott’s portfolio expansion also gained traction, adding over 95,000 rooms this year through conversions and international deals.However, weak domestic leisure demand and restricted pricing power (owing to macroeconomic pressures) in Greater China remain a concern. During the third quarter, severe weather and a shift of high-end travelers to other regions further exacerbated the situation. The company remains cautious of soft demand and pricing trends in China for the remainder of 2024. Earnings estimates for 2024 have declined in the past 30 days, reflecting analysts' concerns about the stock’s growth potential.MAR’s Zacks Rank and Stocks to ConsiderMarriott currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in Zacks Consumer Discretionary sector include:Carnival Corporation & plc CCL currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.CCL has a trailing four-quarter earnings surprise of 318.1%, on average. The stock has surged 76.5% in the past year. The Zacks Consensus Estimate for CCL’s fiscal 2024 sales indicates growth of 16.6% from year-ago levels.Norwegian Cruise Line Holdings Ltd. NCLH currently carries a Zacks Rank #2 (Buy). NCLH has a trailing four-quarter earnings surprise of 4.2%, on average. The stock has surged 81.3% in the past year.The Zacks Consensus Estimate for NCLH’s 2024 sales and EPS indicates growth of 10.2% and 127.1%, respectively, from year-ago levels.Royal Caribbean Cruises Ltd. RCL currently carries a Zacks Rank #2. RCL has a trailing four-quarter earnings surprise of 16.2%, on average. The stock has surged 125% in the past year.The Zacks Consensus Estimate for RCL’s 2024 sales and EPS indicates growth of 18.6% and 71.6%, respectively, from year-ago levels.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carnival Corporation (CCL): Free Stock Analysis Report Marriott International, Inc. (MAR): Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL): Free Stock Analysis Report Norwegian Cruise Line Holdings Ltd. (NCLH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks