This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

The Ritz-Carlton Hotel Company, L.L.C. Charts Global Expansion Plan; Adding 20 Hotel Projects Through 2016

CHEVY CHASE, Md., Sept. 12, 2013 /PRNewswire/ -- The Ritz-Carlton Hotel Company, L.L.C. has announced a major expansion and development initiative that will bring the total number of properties in its portfolio to 100 hotels and resorts around the world by 2016. Ranging from Morocco to Japan and Israel to India, this plan will expand the brand to urban capitals and emerging tourist destinations, some of which are a first for the JD Powers luxury hospitality leader.

(Photo: http://photos.prnewswire.com/prnh/20130912/PH78766 )

"The robust pipeline of hotel projects indicates a continued strong demand for Ritz-Carlton products and services.  We are delighted at the company's continued positive growth," said Herve Humler, president and chief operations officer. "Across the globe, and especially in Asia and the Middle East, we will be the undisputed top-tier luxury hospitality brand by 2016," Humler predicted. 

In the last 12 months, The Ritz-Carlton has opened three iconic properties, including Dorado Beach, a Ritz-Carlton Reserve in Puerto Rico, The Ritz-Carlton, Abu Dhabi a beach-front resort in the capital city of The United Arab Emirates, and the brand's first hotel in the stunning European city of Vienna in Austria.

No less than six new Ritz-Carlton hotels are scheduled to open in the last quarter of this year, including two properties in China; The Ritz-Carlton, Chengdu and The Ritz-Carlton, Tianjin; The Ritz-Carlton, Aruba will add to the stunning Caribbean portfolio; and the luxury brand is slated to open in three new countries with The Ritz-Carlton, Herzliya, Israel; The Ritz-Carlton, Almaty in Kazakhstan and The Ritz-Carlton, Bangalore in India. 

The 2014 schedule follows with a record number of new openings including Kyoto, Japan; Nanjing, China; Rabat, Morocco; Cairo, Egypt; Manesar, India and Bali, Indonesia. By 2015, The Ritz-Carlton anticipates that it will open world-class luxury hotels and resorts in Cabo San Lucas; Oman, Muscat; Bali, Indonesia; Ho Chi Minh, Vietnam; Tunis, Tunisia and Haikou, China.

Residences are also slated to open in Montreal, Canada; Herzliya, Israel and Almaty, Kazakhstan. "The growth of Residences by The Ritz-Carlton has been impressive. Affluent customers are choosing these lifestyle options because of they know that their condominiums and estate homes will be managed in the same exceptional way as our hotels," said Humler. "Whether as a second or third home, or a primary residence, it is a great testimony to the affinity our customers have for The Ritz-Carlton."

Note on forward-looking statements : This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements concerning the number of lodging properties we expect to add in the future, the locations of those properties, the year in which particular properties will open, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those we identify below and other risk factors that we identify in Marriott International, Inc.'s most recent quarterly report on Form 10-Q. These risks include changes in market conditions; the continuation and pace of the economic recovery; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; and the availability of capital to finance hotel growth and refurbishment. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About The Ritz-Carlton Hotel Company, L.L.C. The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 80 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldrige National Quality Award, an award that originated in 1987. Its purpose is to promote the awareness of quality excellence, recognize quality achievements of companies and publicize successful quality strategies. The Ritz-Carlton Hotel Company won the award in 1992 and 1999. For more information, or reservations, call toll free in the U.S. 1-800-241-3333, or visit the company web site at www.ritzcarlton.com . The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NYSE:MAR).

SOURCE The Ritz-Carlton Hotel Company, L.L.C.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs