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Marriott tops new construction pipeline in 2013
Marriott International signed new hotel projects at a rate of more than one every day in 2013, the company has announced.
Speaking at the America’s Lodging Investment Summit (ALIS) in Los Angeles, CEO Arne Sorenson said Marriott confirmed deals for 387 hotels totaling 67,000 rooms during 2013.
According to hospitality industry analysts Smith Travel Research (STR), the company had the fastest growing new-construction pipeline in the hotel industry
The company unveiled almost 26,000 new rooms in 2013 and expects this rate of growth to keep pace in 2014 and 2015.
Domestically, Marriott had 22,000 hotel rooms under construction in the US, more than any other hotel group according to STR data, and was responsible for around 20% of all new hotel rooms that opened in 2013.
The company is also making waves in emerging overseas markets.
With the recent acquisition of South Africa’s Protea Hospitality Holdings to be finalized this spring, Marriott will have the largest hotel portfolio on the African continent.
It is also hoping to double its footprint in Asia Pacific to 330 hotels across 16 countries by 2016.
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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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