April 23, 2015 - Marriott International, Inc (NASDAQ:MAR) announced today the introduction of its new lifestyle brand, Moxy Hotels to Eastern Europe, in partnership with developers, GMT Group. The 130 room Moxy Tbilisi Hotel will be managed by Marriott International and is expected to open in 2017. Located in Saarbrucken Square, central Tbilisi, it will be the third Marriott International property owned by GMT Group in Tbilisi in addition to the Courtyard Tbilisi and Tbilisi Marriott Hotel. Moxy Hotels is expected to open 150 hotels and 25,000 rooms in Europe by 2020.
GMT Group has partnered with Overseas Private Investment Corporation (OPIC), a government agency, to provide USD25 million for the construction of the hotel which will be part of new retail and office development around Saarbrucken Square. The hotel will be situated in a prime location close to the River Mtkvari and a short drive from the historic city centre with its picturesque cafes and restaurants, popular with both tourists and business travellers.
Moxy Hotels made its debut in Milan, Italy on 1 September 2014, shaking up the hotel industry with a fresh attitude and modern flair. A boutique hotel concept for the budget savvy traveller, Moxy Hotels boldly reinvents the traditional economy hotel experience allowing guests to work, play, connect and relax whilst surrounded by clever design and contemporary style. With its vibrant lobby spaces, 24/7 self-service grab and go, ample plug-ins for personal devices and free Wi-Fi, Moxy aims to surprise budget-conscious travellers with a thoughtful, spirited and fun guest experience.
Moxy Hotels is the latest addition in a growing luxury and lifestyle brand portfolio at Marriott International. Each brand is positioned to serve today’s savvy traveller by delivering high design and technology forward experiences at every price point. Marriott International’s luxury and lifestyle brands portfolio currently includes The Ritz-Carlton Hotel Company, EDITION, JW Marriott Hotels & Resorts, Autograph Collection, Renaissance Hotels, AC Hotels by Marriott, Bulgari and Moxy Hotels. Accounting for 25 percent of the company’s system wide pipeline, Marriott expects to add more than 200 luxury and lifestyle hotel projects over the next several years, reflecting over $15 billion of investment by the company’s owners and franchisees. Across Marriott’s entire portfolio of brands, the company expects to surpass one million rooms open or in development by the end of 2015.
Moxy Tbilisi will participate in Marriott Rewards, an award-winning loyalty programme with over 50 million members worldwide.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,100 properties in 79 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com
NOTE: The statements about the future addition of hotels to Moxy Hotels are “forward looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent quarterly report on Form 10-Q; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.