Marriott International Expands Its Branded Residences Portfolio Celebrating 25 Years of Leadership
In a remarkable celebration of its 25-year leadership in the sector, Marriott International, Inc. has announced significant strides in expanding its branded residences portfolio. The hospitality giant, recognized as the leader in branded residential development, has unveiled signed agreements for projects in various prime locations, including Detroit in Michigan, Muskoka in Canada, the picturesque Gulf of Papagayo in Guanacaste, Costa Rica, and the bustling city of Jeddah, Saudi Arabia. With this expansion, Marriott’s total number of open and pipeline residential projects has reached nearly 300.
Marriott's dominance in the branded residential market reflects its ability to continually innovate and respond to evolving consumer demands. Over the past five years, this portfolio has not only facilitated impressive residential sales—amounting to approximately $7.2 billion for third-party developers—but has also experienced a growth rate of around 60%, positioning the company on track to significantly increase its residential offerings in the years to come.
Dana Jacobsohn, the Chief Development Officer for North America Luxury Brands and Global Mixed-Use, expressed pride in the company’s ability to forge partnerships with top-tier developers and designers, showcasing exceptional properties that offer luxurious living experiences. Each Marriott Branded Residence is meticulously crafted to provide not just a home, but a vibrant community atmosphere that resonates deeply with residents.
An exemplary highlight of this expansion is the upcoming Residences at The Detroit EDITION, which marks the introduction of the EDITION brand to the Midwestern United States. Located in the vibrant downtown area, this luxury residency will feature 97 carefully designed units that promise to deliver top-notch amenities, service, and design typical of the EDITION standard. This venture underscores the growing trend towards upscale lifestyle options in urban centers.
In Canada, The Ritz-Carlton Residences in Muskoka offers prospective homeowners a unique opportunity to reside on a prime waterfront property that blends seamlessly into its stunning natural surroundings. With only 32 architecturally distinct homes planned, this sanctuary will present expansive views of the serene outdoors, creating an oasis for its residents.
Additionally, the St. Regis Papagayo Resort is set to redefine luxury living in one of the world’s most biodiverse regions. Anticipating around 140 exclusive residential units, the project will provide residents with amenities reminiscent of the St. Regis brand, including access to hotel facilities such as pools, a spa, and an exclusive beach club.
Marriott’s aspirations also extend to Jeddah, where it has signed an agreement to introduce the iconic St. Regis brand, anticipated to include a luxury hotel and 191 residential units designed with meticulous attention to service and sophistication. This marks an important step in Marriott’s endeavor to grow its profitable and prestigious residential segment globally.
Throughout its history, Marriott has stayed committed to enhancing homeowners' lifestyles through its residences. Each community embodies a blend of world-class hospitality and design, providing residents with exclusive access to services and amenities through the company’s ownership recognition platform, Onvia. This platform offers attractive perks including elevated Marriott Bonvoy® Status, preferred rates at select hotels, and distinctive culinary experiences.
Reflecting on the company’s remarkable journey, John Hearns, Senior Vice President of Global Residential Operations, remarked on the importance of building a sense of belonging and community among residents. The company’s nearly 100 years of hospitality expertise has positioned Marriott as a trusted authority in delivering unparalleled lifestyle experiences across all its property offerings.
The expansion of Marriott's Branded Residences demonstrates not just growth in numbers but a clear commitment to providing exceptional living experiences. With the addition of major new sites and the promise of more to come, Marriott International continues to reshape the landscape of luxury residential living around the world. For more information, you may visit their official website at www.marriott.com.
Marriott's dominance in the branded residential market reflects its ability to continually innovate and respond to evolving consumer demands. Over the past five years, this portfolio has not only facilitated impressive residential sales—amounting to approximately $7.2 billion for third-party developers—but has also experienced a growth rate of around 60%, positioning the company on track to significantly increase its residential offerings in the years to come.
Dana Jacobsohn, the Chief Development Officer for North America Luxury Brands and Global Mixed-Use, expressed pride in the company’s ability to forge partnerships with top-tier developers and designers, showcasing exceptional properties that offer luxurious living experiences. Each Marriott Branded Residence is meticulously crafted to provide not just a home, but a vibrant community atmosphere that resonates deeply with residents.
An exemplary highlight of this expansion is the upcoming Residences at The Detroit EDITION, which marks the introduction of the EDITION brand to the Midwestern United States. Located in the vibrant downtown area, this luxury residency will feature 97 carefully designed units that promise to deliver top-notch amenities, service, and design typical of the EDITION standard. This venture underscores the growing trend towards upscale lifestyle options in urban centers.
In Canada, The Ritz-Carlton Residences in Muskoka offers prospective homeowners a unique opportunity to reside on a prime waterfront property that blends seamlessly into its stunning natural surroundings. With only 32 architecturally distinct homes planned, this sanctuary will present expansive views of the serene outdoors, creating an oasis for its residents.
Additionally, the St. Regis Papagayo Resort is set to redefine luxury living in one of the world’s most biodiverse regions. Anticipating around 140 exclusive residential units, the project will provide residents with amenities reminiscent of the St. Regis brand, including access to hotel facilities such as pools, a spa, and an exclusive beach club.
Marriott’s aspirations also extend to Jeddah, where it has signed an agreement to introduce the iconic St. Regis brand, anticipated to include a luxury hotel and 191 residential units designed with meticulous attention to service and sophistication. This marks an important step in Marriott’s endeavor to grow its profitable and prestigious residential segment globally.
Throughout its history, Marriott has stayed committed to enhancing homeowners' lifestyles through its residences. Each community embodies a blend of world-class hospitality and design, providing residents with exclusive access to services and amenities through the company’s ownership recognition platform, Onvia. This platform offers attractive perks including elevated Marriott Bonvoy® Status, preferred rates at select hotels, and distinctive culinary experiences.
Reflecting on the company’s remarkable journey, John Hearns, Senior Vice President of Global Residential Operations, remarked on the importance of building a sense of belonging and community among residents. The company’s nearly 100 years of hospitality expertise has positioned Marriott as a trusted authority in delivering unparalleled lifestyle experiences across all its property offerings.
The expansion of Marriott's Branded Residences demonstrates not just growth in numbers but a clear commitment to providing exceptional living experiences. With the addition of major new sites and the promise of more to come, Marriott International continues to reshape the landscape of luxury residential living around the world. For more information, you may visit their official website at www.marriott.com.
Topics Consumer Products & Retail）
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