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Marriott International Reports Record Growth in Room Openings and Development for 2024

Marriott International, Inc., the global leader in hospitality, has marked a spectacular year of growth in 2024, reflecting its commitment to expanding its footprint around the world. With a staggering record of 123,000 gross room openings and achieving a 6.8% net room growth, the company showcased its ability to adapt and thrive in the ever-evolving travel industry.

A Year of Unprecedented Development

In 2024, Marriott ended the year with an impressive 577,265 rooms in its development pipeline, with a focus on a variety of travel segments, ranging from affordable midscale options to luxury accommodations. The company executed over 1,200 new deals with franchisees and developers—an average of three deals daily—representing nearly 162,000 rooms in total.

Anthony Capuano, President and CEO, expressed his enthusiasm: "2024 was a year of incredible growth for Marriott, celebrating significant brand expansions and market entries across various regions. Through our commitment to connecting people through the power of travel, our global teams have driven innovative change, creating best-in-class experiences for our guests."

Luxury Expansion and Significant Milestones

As part of its robust strategy, Marriott expanded its luxury portfolio by signing 61 deals for upscale hotels and resorts, resulting in a total of 658 luxury properties across 74 countries by the end of the year. Notable new openings included the W Prague and St. Regis Shanghai as well as the much-anticipated JW Marriott Crete Resort and Spa, set to open in Greece in 2025.

The Ritz-Carlton Yacht Collection launched its second superyacht, Ilma, embarking on a journey through the Mediterranean, alongside plans for a third vessel soon.

Growth in Affordable Midscale Segment

In addition to luxury, Marriott made significant strides in the affordable midscale sector with the expansion of City Express by Marriott into multiple Latin American countries. Moreover, Marriott announced its entry into the U.S. and Canada with StudioRes, a brand focused on extended-stay accommodations, reflecting the company’s flexibility to cater to various traveler needs.

Enhanced Branded Residences

With a commitment to diversity in hospitality offerings, Marriott is expanding its branded residential portfolio, closing 2024 with 142 open locations and 138 more in the pipeline. Noteworthy projects include the Westin Residences Gurugram in India and The Ritz-Carlton Residences in Boston—a testament to Marriott's strategy for growth in upscale residential offerings.

Innovative Outdoor and Alternative Lodging

The company is also embracing non-traditional lodging through partnerships aimed at outdoor-focused experiences. Marriott has acquired Postcard Cabins and executed agreements with Trailborn, indicating a strong intent to diversify its offerings in outdoor and nature-centric locations.

Milestones Across Regions

By year-end, Marriott’s portfolio spanned over 9,300 properties across 144 countries and territories, to impressive milestones across all regions, including:
United States and Canada: Over 1 million open rooms across 6,307 properties, with 263,000 rooms in the pipeline.
Asia Pacific: 109 deals signed representing 21,439 rooms.
Greater China: 463 properties in the pipeline, marking substantial growth.
Caribbean and Latin America: Celebrated the opening of its 500th property in the region.
* Europe, Middle East, and Africa: Grew its pipeline to 596 properties, underlining significant expansion efforts.

Conclusion

As Marriott International heads into 2025, the company looks poised for continued growth across all fronts—be it luxury, midscale, or alternative lodging options. With a strategic vision and strong commitment to meeting the evolving needs of travelers, Marriott remains a dominant force in the global hospitality industry.