BETHESDA, Md. ― Marriott International, Inc. expects its portfolio of hotels, either open or under development, to surpass one-million rooms by the end of 2015.
“In 2014, Marriott signed agreements for more than 650 hotels and 100,000 rooms to be added to its worldwide system over the next few years, a signing pace of nearly two new hotel deals a day,” said Arne Sorenson, Marriott’s president and CEO. “This anticipated investment by our owner partners in Marriott-affiliated hotels will show their confidence in our brands. Together, our growth fuels economic development in communities around the globe, boosting construction and direct employment at the hotels as well as incremental commerce that emerges around this growth.”
The uptick in travel is having a positive effect at the hotel brand. “The doors to travel are increasingly open, as seen in the recent landmark agreement between China and the United States for mutual 10-year visas. Since that policy change was announced there has been a nearly 39-per-cent increase in applications for U.S. visas for Chinese visitors, who spend on average, $7,000 per trip,” said Sorenson. “The potential for new travel and economic growth is huge. Clearly efforts to grow, generate economic opportunity and encourage travel can pay big dividends, not just for companies involved, but for communities around the world.”
Other factors have driven success, too, including the introduction of new brands, which represented nearly 40 per cent of new room openings last year. “We and our hotel owners are excited about our new brands, including Moxy, AC by Marriott, Autograph and Edition, and our newly acquired Protea brand in Africa,” said Tony Capuano, Marriott’s EVP and chief development officer.