Marriott International sets new record for growth in 2018 fueling global expansion and adding choice for travelers
Marriott signed 125,000 rooms and opened more than 80,000 rooms in 2018 |
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Marriott International sets new record for growth in 2018 fueling global expansion and adding choice for travelers
Marriott signed 125,000 rooms and opened more than 80,000 rooms in 2018 |
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Marriott International (NASDAQ: MAR) today announced record organic rooms signings in 2018, ending the year with a record global pipeline. In 2018, the company signed management and franchise agreements for 816 properties, comprised of 125,000 rooms, while opening nearly 500 properties comprised of more than 80,000 rooms around the world across its portfolio of 30 brands.
“Marriott’s meaningful growth momentum across its portfolio of brands continued in 2018, as hotel owners increasingly turned to Marriott’s world-class teams, leading business platforms, unmatched global scale and captivating brands,” said Tony Capuano, Marriott’s Executive Vice President and Global Chief Development Officer. “With the world’s largest pipeline of hotels, a growing loyalty base of 120 million members and a compelling value proposition to our partners, Marriott is positioned to fuel expansion further in 2019.”
As of December 31, 2018, Marriott’s global footprint grew to more than 6,900 properties and more than 1.3 million rooms in 130 countries and territories, with Marriott brands making their debut in Finland, New Zealand, Lithuania, Mali and Ukraine. The pipeline also grew to a record 478,000 rooms.Record setting year for signings in international marketsThe year also delivered a new record for organic international room signings in Europe and Middle East and Africa, and for organic hotel signings in Asia Pacific, delivering a source of future growth in destinations where international travel is surging, and residents are increasingly joining Marriott’s unified loyalty program.Marriott’s lead in luxury strengthensIn the industry’s highest tier, Marriott’s already leading luxury portfolio – consisting of brands such as The Ritz-Carlton, St. Regis, JW Marriott and EDITION – made remarkable strides in 2018. The company signed 29 luxury properties consisting of 6,200 rooms across six brands, with visionary projects such as The Ritz-Carlton, Shanghai Hongqiao, a St. Regis in Dubai, and a three-brand luxury project in the Dominican Republic.
According to the latest STR data, Marriott’s luxury pipeline is larger than its next three competitors combined.Growing loyalty members drive greater owner benefitsIn 2018, Marriott’s hotel owners began to see even greater benefitsgrowing loyalty program membership, which now stands at 120 million members around the world, reduced charge out rates, higher luxury redemptions and a growing proportion of bookings from our direct channels.
“Marriott’s owners are benefiting from a growing base of affluent, global loyalty members seeking travel experiences of a lifetime in sought-after destinations,” said Stephanie Linnartz, Global Chief Commercial Officer, Marriott International. “Our loyalty members benefit in turn from an increasing number of Marriott properties around the globe, as our owners continue to develop exciting projects in gateway cities, resort areas, and locations where our customers aspire to travel.”
About Marriott InternationalMarriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,900 properties in 30 leading hotel brands spanning 130 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards, which includes The Ritz-Carlton Rewards, and Starwood Preferred Guest.
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