Marriott to add 300,000 hotel rooms to its portfolio
IN a move to fast-track its global growth strategy, Marriott will be adding up to 300,000 new rooms by 2019.
According to TravelWeek, this could mean a new hotel every 14 hours in the next three years.
Marriott International president and CEO Arne Sorenson said in a statement: “We are more optimistic than ever about our future.
“Marriott has made a significant leap forward in distribution and scale with its once-in-a-generation acquisition of Starwood.”
In a video interview with Bloomberg, Sorenson said of the 300,000 rooms, 90 percent have been identified, while some have not been definitively contracted.
While the US will make up the biggest market for Marriott’s projected growth, China makes up a large proportion of the pie.
“In China today, we have about 300 hotels open and 500 hotels in the pipeline. And that’s just a sign of how the Chinese economy continues to grow and how they’re shifting towards consumer behavior which is obviously good for businesses like hotels,” he said.
The decision was announced after Sorenson said in early March the group was planning to speed up the expansion of brands acquired in the takeover of Starwood.
Sorenson said 2017 was shaping up to be a solid year, though with some clouds on the horizon.
While US President Donald Trump’s travel ban has not yet had a profound impact on the industry at large, Sorensen has expressed concern about the kind of message such a policy sends to the rest of the world.
He said about the ban: “In those policies, we really want people to come here and see us, do business, vacation here and take back their fond memories.”