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MARRIOTT INTERNATIONAL (MAR)
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Marriott International : Le Méridien Hangzhou, Binjiang held grand opening ceremony

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10/12/2018 | 02:39am CEST

Le Méridien Hangzhou locals in Binjiang Business Centre. Photo: Courtesy of Le Méridien Hangzhou, Binjiang

Le Méridien Hotels & Resorts, which is subordinate to Marriott International, recently announced that Le Méridien Hangzhou located in Binjiang district, Hangzhou, Zhejiang Province held an opening ceremony. This is the first Le Méridien hotel in Hangzhou and the 16th Le Méridien hotel of Marriott International, and the hotel brand is rapidly expanding its domain in the Greater China Region. The triple filter exclusive to Le Méridien Hotel focuses on destination, culture and delicacy, so that guests with creative thinking may enjoy the unimaginable exploration and experience at Le Méridien Hangzhou. "As the first destination of Le Méridien in Hangzhou, we are glad to provide global tourists with the chance of exploring the energetic destination of Hangzhou. The newly opened Le Méridien Hangzhou indicates increasing brand recognition and rapid development of Le Méridien in China," said Li Yusheng, CEO and managing director of Marriott International in China. "We encourage the guests to explore this destination with creative thinking. We also expect to integrate the gene of France with the culture of West Lake through the innovative cultural exploration of Le Méridien brand, so as to release more possibilities," Li said. With the design concept of "endless canvas," Le Méridien Hangzhou shows the classical gardens in Jiangnan (the region south of the Yangtze River) with a contemporary design, emphasizing the balance of humankind, art, nature and enlightens the guests' limitless inspirations of the landscape in Hangzhou. The hotel boasts the grand scenery of the Qiantang River and owns 199 luxurious guest rooms and suites. All the guest rooms are equipped with high-speed broadband and a wireless network, 55-inch FPTV (Festival Portuguese Television), independent immersion bathtub and an effusion shower room. In addition, the special sleeping bed of Le Méridien may also enable the guests to fully enjoy good sleep and embrace the beautiful day with full energy. It is worth mentioning that the Le Méridien Hub also creates the artistic sense and shows artwork from "Ai Mei Midsummer," created by both Le Meridien and X+Q Art, to show the colorful culture of the destination and create a unique experience for guests. "Ai Mei Midsummer" was exclusively designed for Le Méridien Hangzhou and integrates the famous local tea culture. It gets the inspiration from the famous West Lake Longjing Tea that is produced from the mountains surrounding West Lake Longjing village, Hangzhou. The well-proportioned tea leaves are like newly grown buds, which fully illustrate the characteristics of West Lake Longjing Tea. The hotel owns three restaurants and lounges and satisfies diners with an exquisite environment and special food. Guests may taste the classical Asian delicacies and traditional local cuisines, and the buffets of international tastes in the all-day dining restaurant, Latest Recipe. They may enjoy authentic Cantonese food cooked with premium food materials in Lemei Chinese restaurant. The Northern Latitude 30 lobby bar, an energetic and creative place, provides the exclusive Le Meridien coffee culture experience for guests, and serves the creative cocktails and drinks in the evening to make a fun social party. Le Méridien Hangzhou, Binjiang also owns the multi-functional conference space of more than 1,300 square meters, including Le Méridien banquet hall with the area of 750 square meters, which is perfect for an influential conference, wedding and business party. The conference rooms have a high-speed wireless network and is equipped with long-distance meeting facilities and all-round audiovisual equipment. They also provide the prospective excellent services and meets various demands of meeting organizers. Le Méridien Hangzhou, Binjiang also owns various types of fitness and recreational facilities. Guests may exercise in the fitness center with advanced equipment and an indoor heated swimming pool. The hotel also promotes the Le Méridien Family Plan with the characteristics of Le Méridien brand, to satisfy different demands of guests from different age groups. The special recreational area located on the 5th floor of the hotel includes a children's park, indoor simulated golf facility and a free painting room. Le Méridien Hangzhou, Binjiang is located in the Binjiang Business Center, with an excellent geographical position for commuting. The hotel is within a 25-minute drive to Hangzhou Railway Station, and a 40-minute drive to Hangzhou Airport (HGH) and Hangzhou Railway East Station. Guests can easily arrive at the famous local tourism spots and business districts such as the Liuhe Tower, the China Tea Museum, or the Longfor Paradise Walk, a symbolic comprehensive shopping center in Binjiang district. Le Méridien Hangzhou, Binjiang will continue to help expand the territory of Le Méridien in China. At present, the brand owns 16 hotels in the Greater China Region and plans to settle in more destinations in China, including Foshan, Fuzhou, Guangzhou and Leshan.

(c) 2018 Global Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 21 575 M
EBIT 2018 2 376 M
Net income 2018 1 999 M
Debt 2018 8 784 M
Yield 2018 1,36%
P/E ratio 2018 20,70
P/E ratio 2019 18,02
EV / Sales 2018 2,26x
EV / Sales 2019 2,17x
Capitalization 40 004 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 146 $
Spread / Average Target 27%
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Managers
NameTitle
Arne M. Sorenson President, Chief Executive Officer & Director
John Willard Marriott Executive Chairman
Raymond Bennett Chief Global Officer- Global Operations
Kathleen Kelly Oberg Chief Financial Officer & Executive Vice President
Bruce Hoffmeister Global Chief Information Officer
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