Marriott Pens Deal To Debut Its Aloft Brand In Singapore
Portfolio Pulse from Lekha Gupta
Marriott International has signed a deal with Hiap Hoe Limited to launch its Aloft Hotels brand in Singapore, with the first property expected to open in Q3 2023. The 785-room Aloft Singapore Novena hotel will be the largest Aloft in the world. Marriott recently reported Q1 FY23 sales growth of 34% YoY to $5.62 billion.
June 06, 2023 | 4:28 pm
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POSITIVE IMPACT
Marriott's deal with Hiap Hoe Limited to launch Aloft Hotels in Singapore may boost its presence in the region and contribute to future revenue growth.
The deal with Hiap Hoe Limited to launch Aloft Hotels in Singapore will expand Marriott's presence in the region, potentially attracting more customers and increasing revenue. Additionally, the company's recent Q1 FY23 sales growth of 34% YoY indicates a positive financial performance, which may positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100