With Over 560 Open Hotels & Residential Projects In Asia Pacific Excluding China, Marriott International Saw Record Year Of Net Rooms Growth And Signings In The Region
Following the recent announcement by Marriott International, Inc. (Nasdaq: MAR) of its strong global net rooms growth and record year of organic signings in 2023, the company highlighted the remarkable surge in hotel and residences openings and signings in the Asia Pacific excluding China (APEC) region, particularly in key travel markets such as Japan, India, and Vietnam. At the close of 2023, Marriott set a milestone in APEC with over 60 properties added to its portfolio during the year, bringing the company’s presence in the APEC region to more than 560 operating hotels and residences, and exceeding 10 percent net rooms growth compared to 2022. The company also sealed a record of over 80 deals signed across 13 markets, representing approximately 18,000 rooms.
As tourism recovers in APEC and the travel landscape evolves, Marriott has continued to focus on strategically providing the best-in-class offerings to owners, franchisees, and guests. At the end of 2023, Marriott’s APEC development pipeline stood at over 320 hotels with over 69,000 rooms, showcasing the company’s dedication to providing world renowned brands and diverse experiences, aligning with the evolving preferences of travelers across the region.
Luxury continues to play a pivotal role in the growth of Marriott, and 25 percent of Marriott’s global luxury rooms pipeline is represented in APEC. In 2023, 15 percent of the deals signed in APEC were in the luxury segment. A record nine luxury hotels were opened in the region in 2023 — including The Ritz-Carlton, Melbourne— Marriott’s 1,000th hotel in the Asia Pacific region. The JW Marriott Goa debuted the brand in Goa and was the company’s 150th hotel to open in South Asia, and added The Singapore EDITION, the first EDITION in Southeast Asia.
“With our record year of growth at Marriott International in APEC, we remain committed to meeting the demands of modern travelers underscored by our diverse portfolio of brands and strategic presence in new destinations,” said Rajeev Menon, President, Marriott International, APEC. “2023 has positioned us as a thriving and desirable region in the global landscape. I am excited about our momentum as we focus on being where our customers want us to be and connecting people through the power of travel.”
Marriott Bonvoy – Marriott’s award-winning travel program— has helped fuel interest in the company’s regional portfolio. In APEC, the Marriott Bonvoy membership base has surged by 50 percent since 2019. This momentum is attributed to the unique and unforgettable experiences the program offers, including exclusive access to prestigious events like the Australian Open and Formula 1. Beyond hotel stays, Marriott Bonvoy continues to re-define the regional travel landscape with strategic partnerships with Singapore Airlines, Rakuten and co-branded credit cards in Japan, Korea, and India. The company’s commitment to delivering exceptional experiences, coupled with the strength of Marriott Bonvoy, positions Marriott as a leader in shaping the future of travel and hospitality across the APEC region.
For more information on Marriott’s latest developments and brand news, please visit the Marriott News Center at news.marriott.com.
Source: Press Release
Read More