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Monday, February 26, 2024

Marriott’s APEC Boom: 560+ Hotels Drive 2023 Growth!

Marriott - logoIn a remarkable demonstration of resilience and strategic expansion, Marriott International has achieved a monumental milestone in the Asia Pacific Excluding China (APEC) region, marking 2023 as a year of unprecedented growth and development. This year, Marriott’s footprint in APEC has expanded and soared, adding over 60 new properties and tipping the scales with more than 560 operational hotels and residences. This development signifies a staggering net room growth exceeding 10 per cent compared to the previous year, a testament to the company’s robust and forward-thinking strategy.

The surge in Marriott’s APEC presence is underpinned by signing over 80 deals across 13 markets, encompassing approximately 18,000 rooms. This expansion reflects the company’s acute focus on diversification and tailored experiences, meeting the evolving needs of modern travellers. The APEC region, known for its dynamic tourism and economic potential, has witnessed Marriott’s astute ability to tap into key travel markets such as Japan, India, and Vietnam.

Marriott’s growth is a numbers game and a strategic endeavour to enhance its global presence. As of the end of 2023, the company’s development pipeline in APEC boasted over 320 hotels with more than 69,000 rooms. This growth trajectory aligns seamlessly with the changing preferences of travellers across the region, emphasizing Marriott’s commitment to providing world-class brands and diverse experiences.

Luxury has been a cornerstone in Marriott’s growth narrative. Remarkably, 25 percent of Marriott’s global luxury rooms pipeline is in the APEC region. In 2023 alone, 15 percent of the deals signed in APEC catered to the luxury segment, including the inauguration of nine luxury hotels. Among these, The Ritz-Carlton, Melbourne, stands out as Marriott’s 1,000th hotel in the Asia Pacific. The JW Marriott Goa marked the brand’s debut in Goa, representing the 150th hotel to open in South Asia. The Singapore EDITION was also introduced as the first EDITION in Southeast Asia.

Rajeev Menon, President of Marriott International, APEC, expressed his enthusiasm: “With our record year of growth at Marriott International in APEC, we remain committed to meeting the demands of modern travelers underscored by our diverse portfolio of brands and strategic presence in new destinations. 2023 has positioned us as a thriving and desirable region in the global landscape. I am excited about our momentum as we focus on being where our customers want us to be and connecting people through the power of travel.”

Marriott’s award-winning travel program, Marriott Bonvoy, has been instrumental in this growth. In APEC, the Marriott Bonvoy membership base has seen a 50 percent surge since 2019. This remarkable increase is attributed to the program’s unique and unforgettable experiences, including exclusive access to prestigious events like the Australian Open and Formula 1. Furthermore, Marriott Bonvoy has redefined the regional travel landscape with strategic partnerships with Singapore Airlines, Rakuten, and co-branded credit cards in Japan, Korea, and India.

Marriott International’s expansion in the APEC region is not just a triumph of numbers but a story of strategic foresight, quality service, and a commitment to luxury and diversity. As the company strides into the future, it continues to shape the landscape of travel and hospitality, positioning itself as a leader and innovator in the industry.

 

 

 

Written by: My Thanh Pham

 

 

 

 

 

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