Marriott (MAR) Unveils First Tribute Portfolio Hotel In Bali
Zacks Investment Research | Nov 29, 2016 08:13PM ET
A Marriott International, Inc. (NASDAQ:MAR) unit, Tribute Portfolio recently announced the opening of Sthala, A Tribute Portfolio Hotel, in Ubud Bali. This property will be the first Balinese property under the Tribute Portfolio brand, the collection of aspirational independent hotels and resorts of Marriott.
Situated on a hilltop among the tropical landscape in Lodtunduh, heart of Bali’s sought-after Ubud district, the hotel provides an overview of the magnificent Wos River Valley. Owned by PT. Anugrah Anadya Nirmana, Sthala marks a remarkable addition to the available hotel choices in Indonesia's most popular island destination.
This new upscale hotel features over 140 rooms and suites. It encompasses a design plot that focuses on conventional Balinese elements, while blending impeccably with the natural surroundings of the quaint location. Other amenities include a fitness centre, a spa, a dedicated yoga deck and a 400 square meter function space. Guests can also enjoy at distinctive dining venues such as The Naga Rooftop Bar & Lounge, the Sungai Restaurant and the Panorama Pool and Sundeck Lounge.
The Independent Brand
The Tribute Portfolio brand, which debuted in Apr 2015 with its first hotel in Miami, is establishing itself internationally across diverse cities like Singapore, London, Jakarta, Hokkaido, along with closer to home destinations like Tampa, Denver, San Diego, St. Louis and Houston. The strength of the high-end category Tribute Portfolio hotels is their ability to uphold an independent spirit, while benefitting from Marriott’s leading distribution network, loyalty and sales mechanisms.
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