Marriott International sets a growth record in 2018 boosting global expansion
In 2018, the company signed management and franchise agreements for 816 properties, comprising 125,000 rooms, while opening nearly 500 properties, with more than 80,000 rooms around the world
Marriott International (NASDAQ: MAR) today announced a record in the signature of organic rooms in 2018, ending the year with a world record in projects. In 2018, the company signed management and franchise agreements for 816 properties, comprising 125,000 rooms, while opening nearly 500 properties, with more than 80,000 rooms around the world through its portfolio of 30 brands.
"The pace of Marriott's significant growth through its brand portfolio continued in 2018, as more hotel owners turn to Marriott's world-class equipment, leading business platforms, unparalleled and captivating brands on a global scale." said Tony Capuano, executive vice president and director of global development at Marriott. "With the largest hotel project portfolio in the world, a growing loyalty base of 120 million members and an attractive value proposition for our partners, Marriott is positioned to drive its expansion even further in 2019."
As of December 31, 2018, Marriott's global footprint grew by more than 6,900 properties and more than 1.3 million rooms in 130 countries and territories, under Marriott's brands. The project portfolio also grew in record form with 478,000 rooms.
Marriott's leadership in luxury is strengthened
At the industry's highest level, Marriott's already-leading luxury portfolio, which includes brands such as The Ritz-Carlton, St. Regis, JW Marriott and EDITION, made remarkable strides in 2018. The company signed 29 luxury properties that they constitute 6,200 rooms along six brands.
According to the latest STR data, Marriott's luxury projects are much larger than their next three competitors combined. The increase of loyalty members leads to great benefits for owners
In 2018 the owners of Marriot hotels began to see even greater benefits with the increase in membership in the loyalty program, which now has 120 million members worldwide, reduced rates, greater luxury swaps and a growing proportion of reservations from our direct channels. "Marriott owners are benefiting from an increasingly large base of international and affluent loyalty partners seeking unique travel experiences in coveted destinations," said Stephanie Linnartz, global commercial director, Marriott International. "Our loyal partners benefit from an increasing number of Marriott properties around the world, as our owners continue to develop exciting projects in the major cities, vacation areas and locations where our clients aspire to travel."