Marriott International signed record 109 deals in APEC region in 2024 – ET TravelWorld

Marriott International, has announced another year of exceptional growth in the Asia Pacific excluding China (APEC) region, signing a record 109 deals in 2024, which contributed 21,439 rooms to the region’s development pipeline. The total pipeline for APEC now stands at 77,532 rooms across 363 properties, marking a 12% year-over-year increase. The company’s strategy, which includes both expansion in established markets and the introduction of new brands, has further solidified Marriott’s position as a leading force in the global hospitality industry.

Rajeev Menon, President of Asia Pacific excluding China at Marriott International, commented on the company’s remarkable achievements: “2024 was a record-breaking year for Marriott International in APEC, with strong growth driven by key development milestones, market expansions, and the introduction of new brands in sought-after destinations. As we continue to meet the evolving needs of modern travellers, APEC remains a pivotal region in our growth strategy, reinforcing our leadership in global hospitality.”

Marriott’s growth in 2024 was particularly notable in India, Japan, and Indonesia, which collectively accounted for 72% of the region’s signed deals. The luxury segment continued to be a key focus for the company, with over 20 agreements signed across Marriott’s Luxury Group brands, representing 4,600 rooms. Notable new developments include the debut of EDITION hotels in Jakarta and Mumbai, The Ritz-Carlton in Jaipur and Udaipur, and a second W Hotels in Singapore.

The company also marked its regional debut in the affordable midscale space with Four Points Flex by Sheraton in Japan. This launch was part of a strategic multi-unit agreement with KKR to convert 14 properties across 10 Japanese cities, including the opening of the 100th property in Japan, Four Points Flex by Sheraton Osaka Umeda.

Shawn Hill, Chief Development Officer for Asia Pacific excluding China, Marriott International, added: “Our focus on broadening our portfolio and expanding into new markets allows us to deliver greater value to owners, franchisees, and developers. By meeting the evolving needs of travellers, we’re adapting to changing demands and creating unforgettable experiences.”

Marriott also celebrated several milestone openings in 2024, including its 600th property in APEC with the Adelaide Marriott Hotel in Australia, the 150th property in India with Katra Marriott Resort & Spa, the 50th property in Malaysia with Penang Marriott Complex, and the 100th property in Japan with Four Points Flex by Sheraton Osaka Umeda.

The company closed the year with 635 open properties across 25 brands in 22 countries and territories, further cementing Marriott International’s position as a hospitality leader in the APEC region.