USA | For Marriott, 2024 was a year of strong and reliable global growth, supported by various openings and portfolio refurbishments.
Marriott International, Inc. has announced another year of strong global growth, with a record 123,000 gross rooms openings, net rooms growth of 6.8 percent for the full year 2024, and over 577,000 rooms in the company’s development pipeline at year-end. Marriott continued to expand its product offerings across travel purposes and segments – from affordable midscale to luxury.
“2024 was a year of incredible growth for Marriott, as we celebrated regional milestones, segment entries, brand expansions, market debuts, and more,” said Anthony Capuano, President and CEO, Marriott International.
“As we maintain our focus on the company’s purpose of connecting people through the power of travel, I couldn’t be more excited about the work our global teams are doing to drive growth and innovation, create best-in-class experiences for our guests, and deliver strong results for our owners and franchisees.”
In 2024, the company signed a record of over 1,200 deals with owners, franchisees and developers — an average of over three deals a day — representing nearly 162,000 rooms globally. Leveraging the company’s strong revenue engines, leading affiliation costs, and robust portfolio of soft brands and conversion-friendly brands across segments, Marriott continued to have real momentum around conversions, with 34 percent of 2024 rooms signings resulting from conversion opportunities.
“We are thrilled to continue our innovation journey with world-class owners, franchisees, and developers to meet the needs of every traveller and trip purpose,” said Leeny Oberg, Chief Financial Officer and Executive Vice President, Development.
“As we continue expanding and enhancing offerings for our development stakeholders and guests, we are immensely proud of the breadth and depth of our industry-leading portfolio that delivers new travel opportunities around the world.”
Marriott’s luxury portfolio of seven brands now comprises 658 hotels, resorts and branded residential properties, spanning 74 countries and territories. In 2024, the company signed a record number of 61 deals for luxury hotels and resorts, closing the year with 266 in the pipeline. W Hotels expanded its global footprint and experienced robust portfolio growth, seeing significant momentum in its ongoing evolution in 2024, including celebrating the highly anticipated opening of W Prague, and the unveiling of the reimagined W Hollywood and W Union Square in New York. St. Regis opened its 60th hotel worldwide, with the opening of The St. Regis on the Bund, Shanghai in October 2024. The Luxury Collection announced the opening of Koenigshof, a Luxury Collection Hotel, Munich, marking the brand’s entry in Germany. EDITION debuted in Saudi Arabia with The Jeddah EDITION. The recently announced JW Marriott Crete Resort and Spa is anticipated to open in 2025, marking the brand’s debut in Greece. The Ritz-Carlton Yacht Collection launched Ilma, its second superyacht, on its inaugural voyage through the Mediterranean, with its third vessel, Luminara, anticipated to embark on its inaugural voyage in the summer of 2025 with itineraries in the Mediterranean and Asia.
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