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Marriott International expects to have more than 5,000 rooms in the Philippines by end 2024, driven by strong owner demand
Marriott International, Inc. (NASDAQ: MAR) today announced that it expects to more than triple its portfolio in the Philippines in the next five years and debut five new brands including The Ritz-Carlton, Element and Westin, underscoring strong demand from hotel owners for the company’s leading brands and business platforms. With four hotels currently open in the Philippines, Marriott International expects to open 14 more properties by the end of 2024, which would add more than 3,700 new rooms for travelers to the market. Currently operating in three destinations, Marriott International during the same period expects to debut in five new destinations – Caticlan, Cebu, Davao, Mactan and Palawan – as hotel owners and developers build new hotels and convert existing ones to its leading brands.
“The amazing growth we’re seeing in the Philippines is testament to Marriott’s strength in and commitment to the market, coupled by a rapidly growing economy,” said Craig S. Smith, President & Managing Director, Marriott International Asia Pacific. “We look forward to bringing new hotels to the Philippines together with our trusted hotel owners, enabling more choices with unsurpassed experiences for our travelers.”
The opening earlier this year of the 390-room Sheraton Manila Hotel marked the brand’s debut in the Philippines. The hotel provides a warm authentic welcome, and is the point of connection for travelers to the dynamic Philippine capital. The hotel caters to today’s business travelers by being the first in the country to have a co-working space located in a hotel. Located at the forefront of the world-class integrated complex, Resorts World Manila, the hotel is the first landmark seen upon arrival at the Ninoy Aquino International Airport Terminal 3.
Travelers can look forward to customer-favorite brands such as Marriott Hotels will the planned opening of Marriott Resort & Spa Caticlan in 2021; and Courtyard by Marriott with the planned opening of the Courtyard by Marriott Caticlan in 2021. This property is poised to rise in an integrated resort in which a world-class water park is also planned.
New brands that travelers can look forward to include the wellness-centric Westin brand with the opening of The Westin Manila Sonata Place expected in 2021 developed by Robinsons Land Corporation; and the eco-conscious Element brand with the opening of Element Palawan Puerto Princesa slated in 2024, to name a few.
Apart from new-build hotels, conversions continue to be a key strategy in strengthening Marriott International’s footprint in the Philippines, such as the Sheraton Manila Bay expected to open later this year. The rebranding plan by the owners includes a major renovation of the hotel’s lobby area and the creation of a new executive lounge and fitness center. Additional conversion deals include the debut of the Four Points brand with the opening of Four Points Palawan Sabang Beach anticipated in 2020 following a USD 8 million renovation by the owners; and the legendary Ritz-Carlton brand targeted to debut in Philippines in 2021 with the opening of The Ritz-Carlton, Manila.
“Conversions are one way that we grow our footprint; they allow us to quickly bring hotels into Marriott International’s portfolio, allowing guests to enjoy the benefits of our renowned travel program – Marriott Bonvoy – and providing them with the assurance of a global company,” shared Paul Foskey, Chief Development Officer, Asia Pacific, Marriott International. “Our successful conversion strategy exemplifies the trust hotel owners have in the Marriott International name.”
Marriott International’s expansion across the Philippines comes as the country is seeing a growing number of visitors for both business and pleasure alike. In the first half of 2019 alone, the country’s Department of Tourism recorded more than four million international tourist arrivals, an 11 percent increase over the same period the prior year.
Note on Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of federal securities laws, including the number of lodging properties the company may add in the future, and similar statements concerning possible future events or expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including changes in market conditions; changes in global and regional economies; 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 property growth and refurbishment; and other risk factors that the company identifies in its most recent annual report on Form 10-K or quarterly report on Form 10-Q; any of which could cause actual results to differ materially from the expectations we express or imply here. We make these statements as of the date of this press release, and we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,000 properties under 30 leading brands spanning 132 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company now offers one travel program, Marriott Bonvoy™, replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest®(SPG). For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.