MARRIOTT INTERNATIONAL ACCELERATES GROWTH ACROSS EUROPE WITH NEARLY 100 HOTEL CONVERSIONS AND ADAPTIVE REUSE PROJECTS EXPECTED BY THE END OF 2026
Growth plans across the continent reflect the confidence owners continue have in the company. |
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MARRIOTT INTERNATIONAL ACCELERATES GROWTH ACROSS EUROPE WITH NEARLY 100 HOTEL CONVERSIONS AND ADAPTIVE REUSE PROJECTS EXPECTED BY THE END OF 2026
Growth plans across the continent reflect the confidence owners continue have in the company. |
Category: Europe - Industry economy
- Hotel opening - Hotel projects
This is a press release selected by our editorial committee and published online for free on 2024-04-16
From the International Hospitality Investment Forum in Berlin, Marriott International, Inc. today announced plans to add nearly 100 properties and over 12,000 rooms to its portfolio in Europe portfolio through hotel conversions and adaptive reuse projects, the conversion of existing buildings into a hotel, by the end of 2026.
The anticipated hotels represent more than 40 percent of the company’s European development pipeline expected to open during that period.
The robust growth plans are expected to strengthen the company’s footprint across Europe, where it currently has a portfolio of over 800 properties with nearly 150,000 rooms across 25 brands in 47 countries and territories.
“We continue to see meaningful growth across Europe through conversion and adaptive reuse opportunities, reinforcing the confidence our owners and franchisees have in Marriott International as they look to reposition assets and maximise returns," says Satya Anand, President, Europe, Middle East & Africa, Marriott International.
“Conversions with Marriott offer owners and franchisees the opportunity to leverage our well-established brands, competitive affiliation costs, the company’s powerful revenue generation engines and Marriott Bonvoy – our award-winning travel programme with more than 200 million members.”
Marriott is seeing momentum for hotel conversions and adaptive reuse projects in countries such as Italy, United Kingdom, Spain and Türkiye, and across all brand segments.
Marriott’s new midscale brand, Four Points Express by Sheraton, has spurred conversion opportunities in the region since its launch in 2023. The company announced the launch of the brand in response to growing consumer demand for reliable yet affordable accommodation in Europe, the Middle East and Africa.
Following the recent opening of Four Points Express by Sheraton Bursa (Türkiye), the brand is slated to add five properties across the United Kingdom and Türkiye by the end of 2025.
In the select segment, Moxy Hotels, AC Hotels by Marriott, Four Points by Sheraton and Residence Inn by Marriott represent more than 25 percent of the company’s anticipated additions through conversions and adaptive reuse projects in Europe by the end of 2026. Across the premium segment, Tribute Portfolio and Autograph Collection make up over 20 per cent percent of the expected additions in Europe through the same period.
The company is also seeing an increase in conversion and adaptive reuse opportunities in the luxury segment in Europe, with The Luxury Collection, W Hotels, The Ritz-Carlton and St. Regis Hotels & Resorts representing more than 10 percent of the anticipated additions in the region by the end of 2026.
“We are seeing significant interest from independent hoteliers, developers and investors looking to leverage the efficiencies and advantages of renovating and rebranding existing hotels and properties," Jerome Briet, Chief Development Officer, Europe, Middle East & Africa, Marriott International, says
“Adding an existing property to our portfolio provides access to Marriott Bonvoy, our well-established loyalty programme, our sales and marketing platforms and our global customer base. This in turn gives Marriott the opportunity to further expand the breadth of our brand portfolio for our guests and members. We are particularly seeing momentum across The Luxury Collection, Autograph Collection and Tribute Portfolio brands which allow hotels an opportunity to keep their identity and personality while pulling into the power of Marriott’s global systems.”
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 8,800 properties across more than 30 leading brands in 139 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.
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