Featured Company News – Marriott International adds Cristallo Resort & Spa to its Luxury Collection Hotels and Resorts

LONDON, UK / ACCESSWIRE / June 19, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Marriott International, Inc. (NASDAQ: MAR). The Company announced on June 15, 2017, that the iconic Cristallo Resort & Spa located in Cortina, Italy, will become a part of The Luxury Collection. The Gualandi family owns and manages the Cristallo. This will be The Luxury Collection’s first hotel in Cortina, Italy and its first ski resort worldwide. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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The new addition and plans for its future

Cristallo Resort is a UNESCO World Heritage site and a dual-season property. The Luxury Collection plans to undertake extensive renovation on the property and will be done in two phases. In the first phase the hotel’s rooms and suites, and the hotel’s lobby will be redesigned and then will be opened to receive guests. The second phase of the renovation is expected to be completed by December 2017 after which it will be ready for the ski season as a part of The Luxury Collection. The acquisition is part of The Luxury Collection’s goal of expanding its presence in the European market.

In early June 2017, Marriott had revealed its plan to expand its independent hotels across its three brands – The Luxury Collection, Autograph Collection Hotels, and Tribute Portfolio. Marriott expects that each brand would grow 20% in FY17 and 50% by 2019. Marriott has a pipeline of over 40 global properties across the three brands, ready for opening.

Commenting on the new addition to Marriott’s The Luxury Collection, Mitzi Gaskin, Global Brand Leader, The Luxury Collection & JW Marriott said:

“The iconic Cristallo Resort is a perfect fit for The Luxury Collection, as it is truly a hotel that defines its destination. Italy is a key market for our brand, and this hotel marks our eighth location in the country, while also celebrating a key global milestone – The Luxury Collection’s first ski resort in the world!”

Phil Andreopoulos, Chief Operations & Franchise Support Officer, Marriott International Europe added:

“Cristallo is a strategic conversion that underscores The Luxury Collection’s continued investment effort in Italy.”

Sharing his views on the matter Paola Gualandi, Owner and Vice President of Sales & Marketing, Cristallo Resort & Spa commented:

“Joining forces with The Luxury Collection will allow us to continue the tradition of warm family hospitality, while at the same time it will enable us to be included in a global portfolio of properties that are bound by a collective standard of luxury.”

About Cristallo Resort & Spa

Emilia and Giuseppe Menardi opened the Palace Hotel Cristallo in 1901 in Cortina which was designed by the master architect Gustavo Ghiretti, inspired by art nouveau in honor of noble Viennese traditions. The Italian town of Cortina d’Ampezzo is one of Italy’s most sought-after destinations for skiing, summer activities such as hiking and mountain biking, as well as one of the region’s top epicurean destinations.

Over the years Cristallo grew as the most fashionable and popular destinations in Italy. The hotel has hosted The Winter Olympics and various famous and globally renowned personalities over the years. The luxury resort was closed for many years in the 1990s before Bolognese entrepreneur Paolo Gualandi restored the property and opened it as Cristallo Hotel Spa & Golf in July 2001. It is located in North-eastern Italy and nestled within the spectacular Dolomites mountain range. The resort has majestic views of Cortina and the monumental Dolomites.

The hotel has 74 guestrooms, including 20 suites and two Presidential suites. Each room boasts of signature Luxury Collection bed, en-suite Carrara marble bathroom with heated floors, and modern technology. The luxury resort also has four dining options with its four restaurants La Stube 1872, Il Gazebo, La Veranda, and La Terrazza. The luxury resort also has a Transvital Swiss Beauty Center – The Cristallo ULTIMATE SPA, which offers locally-sourced, exclusive therapeutic treatments that provide signature detox, anti-ageing, relaxation, and après ski rituals. The luxury resort also has a private event space, and a nine-hole golf course and an alpine-style Club House which is located within a short drive from the resort.

About Marriott’s the Luxury Collection

Marriott launched The Luxury Collection nearly 2 decades back and currently has over 100 hotels located across 30 countries and territories. The Luxury Collection consists of some of the world’s most iconic hotels from The Gritti Palace in Venice to Santa Marina, a Luxury Collection Resort in Mykonos. The brand has plans to make its debut in three countries in FY17 and to open two ski resorts for the first time – one is Cristallo, a Luxury Collection Resort & Spa in Cortina and the second is Hotel Talisa, a Luxury Collection Resort in Vail, Colorado.

Last Close Stock Review

At the closing bell, on Friday, June 16, 2017, Marriott’s stock marginally fell 0.23%, ending the trading session at $104.50. A total volume of 3.96 million shares have exchanged hands, which was higher than the 3-month average volume of 2.81 million shares. The Company’s stock price soared 18.31% in the last three months, 24.49% in the past six months, and 59.32% in the previous twelve months. Moreover, the stock surged 26.39% since the start of the year. The stock is trading at a PE ratio of 37.73 and has a dividend yield of 1.26%. The stock currently has a market cap of $39.68 billion.

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