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Marriott extends luxury hotel brand to Caribbean

Friday - 4/27/2012, 6:12pm  ET

Marriott International Inc., which noted the strong market in worldwide travel in its most recent earnings report, is extending its luxury hotel brand, JW Marriott Hotels & Resorts, to Santo Domingo, Dominican Republic.

The 131-room hotel, Marriott’s first JW Marriott in the Caribbean, will open in 2014.

"The Dominican Republic is a highly desirable destination for today's luxury traveler and a growing business hub in the Caribbean," said Chairman J.W. Marriott Jr.

The JW Marriott brand now has a presence in 22 countries, with 53 properties.

Marriott stock (NYSE: MAR) reached a 52-week high of $39.89 per share on April 19. It reported earnings of $104 million for its most recent quarter, and added two dozen properties. The company also has 700 properties in the pipeline —under construction, awaiting conversion or approved for development.

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