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Marriott plans 1,300 new hotels by 2017
Marriott says it plans an aggressive expansion push worldwide over the next three years, with new openings at the rate of almost one every day through 2017.
CEO Arne Sorenson said it could add up to 1,300 new hotels and over 200,000 new rooms by 2017 taking its global portfolio to 5,000 hotels in 100 countries.
"This is a great time to be in the hotel business," Sorenson said.
"Around the world, this is a golden age of travel and in North America we believe we are only midway through an elongated lodging cycle, with considerable upside to come."
Maryland-based Marriott, which includes the Courtyard and Renaissance brands, plans to push further into growing overseas emerging markets.
"Economic growth and rising middle classes are driving this travel, and we now have more hotels open or in development outside the US than any time in our company’s history," Sorenson said.
It will double the number of hotels in Asia Pacific by 2017, which is already the second largest market after North America.
Marriott International is also the largest hospitality operator in Africa following its $200 million acquisition of Protea Hospitality Holdings Ltd earlier this year.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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