Marriott International achieves 6.8% net rooms growth, record openings in 2024

GLOBAL – Leading hospitality company Marriott International has reported robust global expansion for 2024, achieving a record 123,000 new room openings, a 6.8% increase in net room growth, and closing the year with more than 577,000 rooms in its development pipeline.

In 2024, Marriott secured over 1,200 deals with owners, franchisees, and developers, averaging more than three deals per day.

These agreements represent nearly 162,000 rooms globally.

Thanks to the company’s strong revenue drivers, competitive affiliation costs, and diverse range of soft and conversion-friendly brands, Marriott maintained momentum in its conversion strategy, with 34% of its 2024 room signings originating from conversion opportunities.

Marriott continued to strengthen its position in the luxury sector. The company’s luxury portfolio, which includes seven brands, now comprises 658 hotels, resorts, and branded residences across 74 countries and territories.

In 2024, Marriott set a new record by signing 61 deals for luxury hotels and resorts, bringing the total number of properties in its luxury pipeline to 266.

W Hotels saw significant global expansion, highlighted by the openings of W Prague, the revamped W Hollywood, and W Union Square in New York. St. Regis marked a milestone with the opening of its 60th hotel, The St. Regis on the Bund in Shanghai, in October 2024.

The Luxury Collection made its debut in Germany with the opening of Koenigshof, a Luxury Collection Hotel, Munich. EDITION also expanded with its first property in Saudi Arabia, The Jeddah EDITION. JW Marriott is set to debut in Greece with the opening of JW Marriott Crete Resort and Spa in 2025.

Additionally, The Ritz-Carlton Yacht Collection launched its second superyacht, Ilma, on its inaugural voyage through the Mediterranean, with a third vessel, Luminara, expected to begin its inaugural voyage in the Mediterranean and Asia in summer 2025.

Marriott also made strides in the affordable midscale segment in 2024, focusing on regionally tailored lodging options.

City Express by Marriott, which entered the segment recently, is now set to expand into countries like Nicaragua, Bolivia, Argentina, and Peru, and is planning to move into Brazil.

In October 2024, the brand announced its upcoming debut in the U.S. and Canada. Currently, it operates 153 properties, with 53 more in the pipeline.

StudioRes, a U.S. and Canada-based extended stay brand, had 35 properties in its pipeline by the end of 2024, with its first opening expected soon.

Additionally, Four Points Flex by Sheraton expanded in Marriott’s EMEA and Asia Pacific regions, closing the year with 28 properties open and 33 more planned.

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