Marriott Sets New Record for Growth in 2018
While the massive hack of its Starwood Hotels reservation system may have cast a pall over the end of 2018, Marriott International has just revealed that it closed-out last year with some very positive, record-breaking news as well.
The company said in a statement that it achieved record organic room signings in 2018, which included signing management and franchise agreements for 816 properties totaling 125,000 rooms.
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Marriott also opened nearly 500 properties, which brought another 80,000 rooms online around the world across its 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, Marriott’s global footprint had increased to more than 6,900 properties and more than 1.3 million rooms in 130 countries and territories. Those numbers include Marriott brands making their debut in such places as Finland, New Zealand, Lithuania, Mali and Ukraine.
The hotel giant’s pipeline also grew to a record 478,000 rooms, according to the statement released today.
In Europe, the Middle East and Africa in particular, the company said it set a new record for organic international room signings.
In the Asia Pacific region, where international travel is surging, organic hotel signings also registered significant growth.
In the luxury tier, there was also a great deal of momentum for Marriott brands last year. The company inked deals for 29 luxury properties totaling 6,200 rooms across six brands. This includes 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.
Marriott’s loyalty program membership is also booming. It now stands at 120 million members around the world.