Marriott International announces seventh consecutive year of record organic worldwide rooms signings in 2019, with approximately 515,000 rooms in the pipeline
815 signed hotel deals in 2019 expected to generate more than 70,000 new jobs worldwide |
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Marriott International announces seventh consecutive year of record organic worldwide rooms signings in 2019, with approximately 515,000 rooms in the pipeline
815 signed hotel deals in 2019 expected to generate more than 70,000 new jobs worldwide |
Category: Worldwide - Industry economy
- Hotel opening
This is a press release selected by our editorial committee and published online for free on 2020-01-28
Marriott International, Inc. (NASDAQ: MAR) today announced it signed a record number of rooms in 2019, pushing its global pipeline to approximately 515,000 rooms as of year-end 2019 for the first time in the company’s history. The company signed 815 agreements, representing more than 136,000 rooms, marking the seventh consecutive year of record-breaking volume of organic rooms signings. Growth was fueled by unprecedented levels of organic rooms signed in each of the company’s international regions. During 2019, the company added 516 properties with more than 78,000 rooms in 60 countries and territories – an average of one new property every 17 hours.
“With growth and loyalty as the cornerstones of our company’s success, our unrivaled 2019 signings illustrate our winning strategy, which combines leading brands, powerful business platforms and an enduring focus on our associates,” said Tony Capuano, Group President, Global Development, Design and Operations Services, Marriott International. “We continue to drive value for our owners with quality branding options for both property conversions and new builds, backed by our leading business support systems and loyalty platform. By staying true to our growth philosophy and continuously responding to the evolving preferences and lifestyles of travelers, we are poised for a successful 2020 and beyond.”
At the end of 2019, Marriott International’s worldwide system consisted of more than 7,300 properties and roughly 1.38 million rooms in 134 countries and territories. More than half of the company’s record global development pipeline is located outside North America.
“With 141 million Marriott Bonvoy members who increasingly crave travel to new cities and unique experiences around the world, a record-breaking year of deals means new, exciting properties are coming for travelers worldwide,” said Stephanie Linnartz, Group President, Consumer Operations, Technology & Emerging Businesses, Marriott International. “Our stellar growth results prove that our broad brand portfolio and platforms are resonating with owners and developers, as well as with customers.”Record-setting year for growth in valuable international marketsIn 2019, 53 percent of the company’s signed rooms were outside North America with record-breaking organic volumes in the company’s Asia Pacific (38,000 rooms), Europe (17,000 rooms), Caribbean and Latin America (more than 9,000 rooms), and Middle East and Africa (8,000 rooms) regions. Additionally, in 2019, Marriott International debuted its first hotels in four additional countries – Cyprus, Moldova, Kyrgyzstan and Latvia.Company extends its lead in luxuryMarriott International did a record-breaking number of deals for its global luxury hotel brands, bolstering its lead in this high-value segment. In 2019, the company signed 42 luxury projects in 27 countries and territories, while opening or converting 34 properties such as The St. Regis Venice, W Dubai – The Palm, The West Hollywood EDITION and The Ritz-Carlton, Pune. As the company focuses on expanding its leading luxury footprint, it is revitalizing W Hotels. Last year, the company purchased the W New York – Union Square, with plans to transform the property into a showcase for the brand’s future look.Successful all-inclusive launchLast August, Marriott launched its all-inclusive platform to bring its brands, scale and trusted service to this growing, global vacation segment. Less than six months after its launch, the company has signed seven management and franchise agreements for all-inclusive properties representing nearly 3,200 rooms. Among the all-inclusive projects in development are an 800-room Marriott Hotels resort in Jamaica and a 240-room Ritz-Carlton resort in Mexico. The company last year also completed its acquisition of Elegant Hotels Group, which consists of seven hotels and 588 rooms located on the picturesque island of Barbados.Affordable lifestyle hotel brands buoy company growthCatering to the next generation of travelers, the company’s AC by Marriott, Aloft and Moxy brands opened nearly 10,000 rooms in 2019. Combined, these brands represent more than 65,000 open rooms in 44 countries and territories, including new hotels in Greece, Ireland, Jamaica, Latvia, Nepal and Switzerland. The company signed nearly 24,000 rooms across the AC by Marriott, Moxy and Aloft brands during the year – with record room signings for both AC by Marriott and Moxy.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,300 properties under 30 leading brands spanning 134 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy, its highly-awarded travel program with 141 million members globally.
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