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Marriott International - Logo.Marriott International has shattered industry records in 2024, closing the year with an unprecedented 6.8% net room growth and a staggering 123,000 new room openings worldwide. With a robust development pipeline of over 577,000 rooms, the global hospitality powerhouse continues to redefine the landscape of luxury, midscale, and branded residential accommodations.

“2024 was a year of incredible growth for Marriott, as we celebrated regional milestones, segment entries, brand expansions, market debuts, and more,” stated Anthony Capuano, President and CEO of Marriott International. “Our commitment to innovation and market leadership has positioned us to provide best-in-class experiences for travelers while delivering outstanding results for our owners and franchisees.”

Industry-Leading Hotel Signings Fuel Expansion

Marriott secured over 1,200 new hotel signings globally—an average of three daily deals—representing 162,000 rooms across multiple segments. Notably, 34% of these signings stemmed from conversion opportunities, showcasing Marriott’s ability to leverage its diverse portfolio, leading revenue engines, and competitive affiliation costs.

“We are thrilled to continue our innovation journey with world-class owners, franchisees, and developers,” said Leeny Oberg, Chief Financial Officer and Executive Vice President, Development. “Marriott’s extensive brand portfolio allows us to offer new travel experiences while strengthening the value proposition for developers and real estate investors.”

Luxury Market Expansion: Strengthening Global Leadership

With 658 luxury hotels and resorts across 74 countries, Marriott reinforced its dominance in the luxury hospitality sector. In 2024, the company signed a record-breaking 61 luxury hotel deals, closing the year with 266 properties in the pipeline. Highlights include:

  • W Hotels’ Global Evolution: Openings in Prague, and a reimagination of W Hollywood and W Union Square in New York.
  • St. Regis’ 60th Hotel: The grand opening of St. Regis on the Bund, Shanghai.
  • The Luxury Collection in Germany: Launch of Koenigshof, Munich.
  • EDITION’s Saudi Debut: The much-anticipated Jeddah EDITION.
  • JW Marriott’s Greece Entry: JW Marriott Crete Resort & Spa (2025).
  • Ritz-Carlton Yacht Collection’s Expansion: The launch of Ilma and the announcement of Luminara in 2025, with Mediterranean and Asian itineraries.

Midscale Momentum: Strengthening Regional Growth

Marriott’s strategic focus on the affordable midscale segment has led to rapid regional expansion, mainly through City Express by Marriott and StudioRes. Key developments include:

  • City Express’ Global Reach: Expansion into Nicaragua, Bolivia, Argentina, Peru, and Brazil, alongside its U.S. and Canadian debut.
  • StudioRes Extended-Stay Milestone: 35 new properties in development, with the first opening expected in 2025.
  • Four Points Flex Growth: 33 properties in the pipeline across Europe, the Middle East, and Asia-Pacific.

Marriott Branded Residences: Unmatched Real Estate Success

With 142 branded residential locations worldwide, Marriott’s residential division achieved $2.1 billion in sales revenue for third-party developers. 50% growth since 2019 reflects high demand for branded luxury residences. Upcoming projects include:

  • Westin Residences Gurugram: India’s largest branded residences.
  • The Ritz-Carlton Residences, Boston: A skyline-defining project.
  • Luxury Collection Residences, Isla Mujeres: An all-inclusive luxury haven.
  • St. Regis Residences, Al Maryah Island, Abu Dhabi: A premium waterfront property.

Outdoor Lodging & Apartment-Style Hospitality: Marriott’s Diversification Strategy

Marriott further disrupted traditional hospitality with strategic investments in alternative lodging. In December 2024, the company acquired Postcard Cabins and announced a long-term partnership with Trailborn, signalling a significant entry into the outdoor travel segment.

Additionally, Marriott’s partnership with Sonder Holdings in August 2024 added over 9,000 apartment-style rooms to its portfolio, solidifying its leadership in the growing extended-stay sector.

Regional Highlights: Marriott’s Global Footprint Grows Stronger

United States & Canada

  • 1+ million rooms across 6,307 properties.
  • Record 608 deals signed in 2024.
  • Notable luxury additions: The Resort at Pelican Hill, Ritz-Carlton O‘ahu, and MGM Collection by Marriott Bonvoy.

Asia-Pacific Excluding China (APEC)

  • 109 deals signed (21,439 rooms).
  • New multi-unit partnerships in Japan and Indonesia.
  • Milestone openings: Adelaide Marriott, Katra Marriott Resort & Spa, Penang Marriott Complex.

Greater China

  • 463 properties (104,539 rooms) in the pipeline.
  • Record 161 deals signed (31,000 rooms).
  • New brand expansions: Luxury Collection & AC Hotels in Shenzhen, Ritz-Carlton Xiamen Island, and W Hotels Sanya.

Caribbean & Latin America (CALA)

  • 500th property milestone with Almare, Isla Mujeres.
  • 183 properties (27,817 rooms) in the pipeline.
  • Expansion of all-inclusive resorts in Cancun and Punta Nizuc.

Europe, Middle East & Africa (EMEA)

  • 596 properties (104,731 rooms) in the pipeline.
  • Record 291 deals signed (34,000 rooms).
  • Key projects: Multi-hotel agreement in Saudi Arabia and Serbia’s first Ritz-Carlton.

Looking Ahead: Marriott’s Unmatched Growth Trajectory

With its unparalleled expansion across luxury, midscale, and residential segments, Marriott International has cemented itself as a global hospitality titan. As the company enters 2025 with a robust development pipeline, its strategic focus on brand innovation, regional diversification, and developer partnerships ensures a dynamic future for investors, franchisees, and travellers alike.

For more insights on Marriott’s development projects, visit hotel-development.marriott.com.

 

 

 

Written by: Kanda Limw

 

 

 

 

 

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