Marriott International reports strong growth in APAC throughout 2024

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Marriott International Inc reported yet another year of strong growth in the Asia Pacific excluding China, signing a record 109 deals across 11 markets.

The announcement released today, 7th February, shows that these deals collectively contributed 21,439 rooms to the region’s development pipeline, closing 2024 with 77,532 total rooms in the region’s year-end pipeline. 

The company continues to expand its portfolio in the region across market segments, including its debut in the midscale segment and its expansion of its luxury portfolio, reinforcing Marriott’s lead in the region’s evolving hospitality landscape.

Marriott International president for the Asia Pacific excluding Asia Rajeev Menon said: “2024 was a record-breaking year for Marriott International in APEC, with exceptional 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 travelers, APEC remains a pivotal region in our company’s growth strategy, reinforcing our position as a leader in the global hospitality industry.”

A year of accelerated growth

In 2024, Marriott signed 109 deals representing 21,439 rooms in APEC, bringing its regional pipeline to 363 properties and 77,532 rooms, reflecting a 12 percent year-over-year increase.

India, Japan and Indonesia were the highest growth markets in the region, comprising 72 percent of the region’s deal signings in the year.

Growing the luxury portfolio in the region remains a key focus, accounting for 19% of signed deals in 2024. 

More than 20 agreements were signed representing 4,600 rooms in the region across six Marriott International Luxury Group brands, meeting the increasing demand from affluent travelers seeking high-end, experiential stays in both established and emerging destinations. 

This includes the expected debuts of EDITION in Jakarta, Indonesia, and Mumbai, India; The Ritz-Carlton in Jaipur and Udaipur, India; a second W Hotels in Singapore; and more.

Multi-unit agreements and conversion opportunities played a key role in the region’s pipeline growth, with conversions representing 36 percent of 2024 signings. 

Marking the company’s regional debut in the affordable midscale space, Marriott launched Four Points Flex by Sheraton in Japan, as part of a strategic multi-unit agreement with KKR to convert 14 properties across 10 cities in Japan. 

In November 2024, the brand celebrated its official debut in the region and the company’s 100th property in Japan with the opening of the Four Points Flex by Sheraton Osaka Umeda. 

Shawn Hill, chief development officer for APAC excluding China said: “As Marriott continues to expand its presence across APEC, we aim to continue broadening our portfolio of best-in-class brands and unforgettable experiences to meet the growing demand for travel.

By enhancing our offerings and entering new markets, we’re not only aiming to deliver greater value to owners, franchisees and developers, but also adapting to the evolving needs of today’s travelers — across all stay purposes and experiences.”

A year of marked expansion

In 2024, Marriott entered new destinations and celebrated brand debuts in the region, centered around its growing traveler base. 

The company debuted in Papua New Guinea with the opening of Marriott Executive Apartments Port Moresby, increasing its operating presence to 22 countries and territories in APEC.

Following the brand’s success in Japan, South Korea and Australia, the lifestyle-focused Moxy Hotels brand also made its debut in key cities, including Moxy Bengaluru Prestige Tech Cloud in India, Moxy Putrajaya in Malaysia, and Moxy Bangkok Ratchaprasong in Thailand, catering to a new generation of travelers seeking vibrant and design-forward stays.

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