Marriott International, Inc. (NASDAQ: MAR) today announced its plans to further expand its portfolio across Asia Pacific, targeting to open its 1000th property in the region in late 2022. The company expects to open nearly 100 properties in the region this year. With a vision to deliver exceptional and distinctive travel experiences, Marriott is committed to bringing the benefits of good travel to its guests, owners and communities in Asia Pacific.
Craig S. Smith, Group President, International for Marriott International, said, “I am very pleased with our 2021 development results in Asia Pacific. We have worked closely with our owners throughout the last two years to navigate the challenges brought on by the pandemic, adapt quickly, and grow. Last year in Asia Pacific, we signed two new development deals a week on average, with deals signed in 13 different markets across the region. This year, we expect to continue to drive demand and growth which is a testament to our talented teams committed to operational excellence, and the relationships we have with the customers we’re privileged to serve and the developers, owners, franchisees and partners we’re honored to do business with.”
In line with the company’s recent update around key trends shaping hospitality development, Asia Pacific sees similar trends poising Marriott to further grow in the region.
Luxury Demand Continues to Boom in Greater China
According to research by ILTM Asia Pacific, Greater China’s affluent population contributes to half of Asia Pacific’s total spending on airfare and lodging. Affluent travelers in Greater China continue to look for luxury travel in new and emerging destinations. Greater China remains an engine for the company’s growth, as it accounts for more than half of the company’s anticipated luxury openings in Asia Pacific in 2022. Ritz-Carlton Reserve anticipates expanding its highly curated portfolio in Greater China, debuting its first rare estate in the historic Jiuzhaigou valley later this year. Additional expected luxury openings in 2022 include JW Marriott Hotel Changsha and W Macau - Studio City.
Research by the World Travel & Tourism Council (WTTC) suggests that leisure travel demand has been booming at an accelerating rate. In 2022, as leisure demand continues to outpace business travel, Marriott is poised to strengthen its presence across several leisure destinations. In South Korea, the company expects to bring its JW Marriott brand to Jeju with the opening of JW Marriott Jeju Resort & Spa in May 2022. The expected opening of W Sydney in late 2022 will mark the third W hotel in Australia.
With wellness and well-being remaining a continued priority for many travelers, the company’s leading wellness brand, Westin Hotels & Resorts, is expected to celebrate two new debuts in Yokohama and Cam Ranh in 2022.
Select Service Brands Cement Their Position in Asia Pacific
Marriott’s select service portfolio is driving momentum for growth, providing a wide-range of amenities and offerings across well-established brands such as Courtyard by Marriott, Fairfield by Marriott, Four Points by Sheraton, AC Hotels and Moxy Hotels. In Greater China, the openings of select service hotels will further expand consumers’ travel choices, bringing guests a diverse range of experiences in emerging Chinese destinations. Four Points by Sheraton expects to continue its growth with five planned openings throughout the year, while Moxy Hotels anticipates continuing to share its playful spirit in destinations such as Suzhou and Xi’an.
Outside of Greater China, the company expects to debut its AC Hotels brand in Korea with AC Hotel Seoul Gangnam and in Australia with AC Hotel Melbourne Southbank. In Japan, Fairfield by Marriott expects to continue to strengthen its presence with six new properties planned to open across Nara, Hokkaido and Hyogo along ‘Michi-no-Eki’ roadside stations aimed at revitalizing the country’s local sightseeing spots and well-hidden rural destinations.