Marriott International has marked one other yr of robust progress within the Asia Pacific excluding China (APEC) area, signing a file 109 offers throughout 11 markets, contributing 21,439 rooms to the area’s improvement pipeline, closing the yr with 77,532 complete rooms within the area’s year-end pipeline.
The corporate continues to broaden its portfolio within the area throughout market segments, together with its debut within the midscale section and its growth of its luxurious portfolio, reinforcing Marriott’s lead within the area’s evolving hospitality panorama.
Final yr noticed some vital milestones for the corporate, together with the opening of the 600th property in APEC (Adelaide Marriott Resort, Australia); one hundred and fiftieth property in India (Katra Marriott Resort & Spa; fiftieth property in Malaysia (Penang Marriott Complicated); and the a centesimal property in Japan (4 Factors Flex by Sheraton Osaka Umeda).
“2024 was a record-breaking yr for Marriott Worldwide in APEC, with distinctive progress pushed by key improvement milestones, market expansions, and the introduction of latest manufacturers in sought-after locations,” mentioned Marriott Worldwide President, Asia Pacific excluding China, Rajeev Menon.
“As we proceed to satisfy the evolving wants of contemporary vacationers, APEC stays a pivotal area in our firm’s progress technique, reinforcing our place as a frontrunner within the international hospitality business.”
In 2024, Marriott signed 109 offers representing 21,439 rooms in APEC, bringing its regional pipeline to 363 properties and 77,532 rooms — a 12% year-over-year improve.
India, Japan and Indonesia have been the best progress markets within the area, comprising 72% of the area’s deal signings within the yr.
Rising the posh portfolio within the area stays a key focus, accounting for 19% of signed offers in 2024.
Greater than 20 agreements have been signed representing 4,600 rooms within the area throughout six Marriott Worldwide Luxurious Group manufacturers, assembly the growing demand from prosperous vacationers searching for high-end, experiential stays in each established and rising locations.
This contains the anticipated debuts of EDITION in Jakarta, Indonesia, and Mumbai, India; The Ritz-Carlton in Jaipur and Udaipur, India; a second W Lodges in Singapore; and extra.
Multi-unit agreements and conversion alternatives performed a key function within the area’s pipeline progress, with conversions representing 36% of 2024 signings.
Marking the corporate’s regional debut within the reasonably priced midscale house, Marriott launched 4 Factors Flex by Sheraton in Japan, as a part of a strategic multi-unit settlement with KKR to transform 14 properties throughout 10 cities in Japan.
In November 2024, the model celebrated its official debut within the area and the corporate’s a centesimal property in Japan with the opening of the 4 Factors Flex by Sheraton Osaka Umeda.
“As Marriott continues to broaden its presence throughout APEC, we intention to proceed broadening our portfolio of best-in-class manufacturers and unforgettable experiences to satisfy the rising demand for journey,” mentioned Marriott Worldwide Chief Improvement Officer, Asia Pacific excluding China, Shawn Hill.
“By enhancing our choices and coming into new markets, we’re not solely aiming to ship better worth to house owners, franchisees and builders, but in addition adapting to the evolving wants of at this time’s vacationers — throughout all keep functions and experiences.”
In 2024, Marriott entered new locations and celebrated model debuts within the area, centered round its rising traveler base.
The corporate debuted in Papua New Guinea with the opening of Marriott Government Residences Port Moresby, growing its working presence to 22 international locations and territories in APEC.
Following the model’s success in Japan, South Korea and Australia, the lifestyle-focused Moxy Lodges model additionally made its debut in key cities, together with Moxy Bengaluru Status Tech Cloud in India, Moxy Putrajaya in Malaysia, and Moxy Bangkok Ratchaprasong in Thailand, catering to a brand new era of vacationers searching for vibrant and design-forward stays.
With an increasing portfolio, Marriott Worldwide in APEC closed 2024 with 635 open properties throughout 25 manufacturers in 22 international locations and territories.