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.
Surge in openings and signings in APEC region
The company highlighted the remarkable surge in hotel and residence 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.
This brought the company’s presence in the APEC region to more than 560 operating hotels and residences, and exceeding 10 per cent 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.
This showcases the company’s dedication to providing world-renowned brands and diverse experiences, aligning with the evolving preferences of travellers across the region.
Luxury plays a pivotal role
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 per cent 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 travellers underscored by our diverse portfolio of brands and strategic presence in new destinations,” said Rajeev Menon, President, Marriott International, APEC.
He added, “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.”
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