Marriott International Achieves Record Expansion in 2024, Strengthening Luxury, Midscale, and Residential Offerings

Marriott International Achieves Record Expansion in 2024, Strengthening Luxury, Midscale, and Residential Offerings

With record annual signings, the company ended 2024 with 3,766 properties (577,265 rooms) in the development pipeline.

(IN SHORT) Marriott International has announced significant growth in 2024, with over 123,000 room openings and a 6.8% increase in net room growth. Its development pipeline now includes over 577,000 rooms globally. Marriott signed a record 1,200 deals with developers, owners, and franchisees, achieving growth across all segments, including luxury, affordable midscale, and residential properties. The company also expanded its branded residences portfolio and ventured into outdoor lodging and apartment-style accommodations. Marriott’s global reach continued to grow with significant signings in regions like the U.S. and Canada, Greater China, and Latin America, showing its resilience and ability to meet evolving market demands.

(PRESS RELEASE) Bethesda, MD, 2025-Jan-30 — /Travel PR News/ — Marriott International, Inc. has announced an outstanding year of global expansion, concluding 2024 with a remarkable 123,000 gross room openings and a 6.8% net room growth. The company’s development pipeline now includes over 577,000 rooms across 3,766 properties worldwide, reflecting Marriott’s continued leadership in the hospitality industry. This achievement highlights the brand’s commitment to offering diverse and innovative lodging options, from affordable midscale to luxury, catering to various traveler needs.

Anthony Capuano, President and CEO of Marriott International, expressed his enthusiasm for the company’s 2024 performance, saying, “This year marked an incredible period of growth for Marriott, driven by significant milestones, brand expansions, and global market entries. I am truly excited about our teams’ efforts to foster growth, provide exceptional experiences for guests, and deliver strong returns for our owners and franchisees.”

In 2024, Marriott signed a record 1,200 agreements with developers, owners, and franchisees, averaging over three deals per day. This growth was fueled by Marriott’s robust portfolio of soft brands and conversion-friendly options. Notably, conversions accounted for 34% of the new room signings, further underscoring the strength of Marriott’s brand and its ability to meet evolving market demands.

The company also made significant strides in luxury, with 61 deals signed for hotels and resorts across its luxury portfolio, including the successful expansions of brands like W Hotels and St. Regis. Marriott’s luxury brands now encompass 658 properties in 74 countries. Meanwhile, Marriott’s affordable midscale segment also saw major developments, with brands like City Express by Marriott poised for expansion into new markets across Latin America, and the StudioRes brand in the U.S. advancing with 35 properties in the pipeline.

The company’s branded residential offerings also continued to grow, with Marriott’s portfolio of branded residences expanding by over 50% since 2019, bringing the total number of locations to 142. In 2024 alone, Marriott Branded Residences generated $2.1 billion in residential sales revenue for third-party developers, nearly doubling the previous year’s figures.

Marriott’s development strategy also includes ventures beyond traditional hospitality, with the company entering the outdoor lodging and apartment-style accommodations sectors. In December 2024, Marriott announced acquisitions in the outdoor lodging space, including the Postcard Cabins brand, and a partnership with Sonder Holdings to expand its apartment-style offerings, adding more than 9,000 rooms to its portfolio.

Marriott’s expansion has been global, with significant growth in key regions such as the United States, Asia Pacific, Greater China, the Caribbean, and Latin America. In the U.S. and Canada, Marriott signed a record 608 deals, while in Asia Pacific, the company signed 109 deals, and in Greater China, it signed 161 agreements. Marriott also marked major milestones in the Caribbean and Latin America, with the opening of the 500th property in the region.

The company’s strategic development continues to demonstrate its ability to adapt and thrive in a rapidly evolving industry, providing compelling opportunities for developers and real estate investors.

For more information on Marriott’s development opportunities, visit www.hotel-development.marriott.com.

NOTE ON FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of United States federal securities laws, including statements related to our expectations regarding new brands, offerings and growth opportunities; deal signings, expected future project openings and portfolio growth; our development pipeline; the pace and momentum of development activity, conversion activity and growth in certain segments and product tiers; brand debuts in certain markets and sectors; owner interest and demand for our brands and certain offering types; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise.

ABOUT MARRIOTT INTERNATIONAL, INC.

Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of over 9,300 properties across more than 30 leading brands in 144 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.

Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on its investor relations website at www.marriott.com/investor or Marriott’s news center website at www.marriottnewscenter.com, which may be material. The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the SEC, and any references to the websites are intended to be inactive textual references only.

Media Contact:

Maggie McNerney
Senior Manager, Public Relations
Marriott International
Maggie.McNerney@Marriott.com

Source: Marriott International, Inc.

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