Marriott International Continues Robust Growth In Asia With The Signing Of Its 250th Hotel In The Region
Renaissance Bo'ao Resort & Spa to Open in China in 2015.
Marriott International, Inc. (NYSE: MAR) today announced it has reached the milestone figure of 250 open and signed hotels in Asia, with the 250th hotel to be located in Bo’ao in China. This represents 129 open hotels plus our development pipeline of 121 projects - totaling more than 75,000 rooms in 15 countries.
“We are delighted to have reached 250 hotels in Asia and are looking forward to continued growth in the region,” explained Simon Cooper, Marriott International’s president and managing director, Asia Pacific. “We are seeing growth across all countries in Asia and in the past few weeks have signed landmark hotels in key locations including Macau, Vietnam and India. We continue to see excellent growth in China where we now have more than 100 open and signed hotels, and expect to open on average one hotel a month in the country for at least the next three years.”
Marriott International operates seven brands across Asia - The Ritz-Carlton, JW Marriott, Bulgari Renaissance, Marriott Hotels & Resorts, Courtyard and Marriott Executive Apartments - and sees tremendous growth potential across all brands in the portfolio targeting different market segments from luxury to mid-scale. India is another exciting growth market for us. With more than 50 open and signed hotels, we expect to grow to about 100 hotels in the country, including Fairfield by Marriott, which was specifically designed for that market.
While Asia continues to deliver robust growth, China remains the strongest driver and Marriott International has ambitious plans in the country. With the portfolio expected to double from the current 58 open hotels in the next 3-4 years, Marriott will increase its work force to well over 70,000 associates over the same time period.
“We see this as a golden age of travel around the world,” said Cooper, “and our Marriott hotels will be there to welcome all travelers, domestic and international. In the process, we are opening doors to a world of opportunity for our guests and associates alike, by offering great careers to our associates in China and across Asia, while delivering rewarding guest experiences across our growing brand portfolio."
Marriott has been a tireless advocate for removing the barriers to travel through its membership in the World Travel and Tourism Council (WTTC) and World Economic Forum's Aviation, Travel and Tourism Council. A primary focus has been on new models of mobility, such as the e-visa and reciprocity among nations to make travel easier. The company is also training its associates and teams outside of China to welcome and host Chinese travelers.
Chinese outbound traveler numbers to the US have risen from about 225,000 in 2002 to almost a million in 2011, and with that number is forecast to increase an astonishing 274% by 2016. China represents the fastest growth - by far - of any country, according to the U.S. Department of Commerce. Through its participation on the U.S. Travel and Tourism Advisory Board, Marriott has helped drive a new national tourism strategy, announced last week, to boost international visitors to the United States to 100 million people annually by 2021. Similarly, U.S. Visitation to Asia is expected to increase by similar numbers.
Marriott is also working with key companies in China and recently announced a partnership between Marriott Rewards - Marriott International’s award-winning loyalty programme - and Ctrip. This unique partnership will allow Marriott Rewards members to earn Ctrip points when they stay at any of Marriott International’s participating hotels globally. This partnership is the first of its kind between a global hotel loyalty programme and Ctrip. Membership of Marriott Rewards doubled in China last year and as Marriott International increases its presence and footprint in the country.
NOTE: The statements about the opening dates for the new hotels are “forward looking statements" within the meaning of U.S. 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.
Marriott International, Inc. (NYSE: MAR) is a leading lodging company based in Bethesda, Maryland, USA with more than 3,700 properties in 73 countries and territories and reported revenues of over $12 billion in fiscal year 2011. The company operates and franchises hotels and licenses vacation ownership resorts under 17 brands, including Marriott Hotels & Resorts, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott Executive Apartments, Marriott Vacation Club, Grand Residences by Marriott, and The Ritz-Carlton Destination Club. There are approximately 300,000 employees at headquarters, managed and franchised properties. Marriott is consistently recognized as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
Connect with dan.ford@marriott.com
