Marriott had more rooms than ever before in 2018
Marriott International, the world’s largest luxury hotelier, has announced that it “hit a record for organic rooms signing and ended the year with a record global pipeline.” The company said that it signed management and franchise agreements on 816 properties with a combined total of 125,000 rooms. But that’s not all – Marriott also opened nearly 500 additional properties, contributing a further 80,000 rooms to its global total.
Marriott’s share price has grown by 6% in the last 30 days
Source: Yahoo Finance
By the end of 2018, Marriott’s worldwide total number of properties stood in excess of an enviable 6,900, providing luxury travellers with access to over 1.3 hotel rooms in 130 countries and territories. Last year, the company entered a number of new markets (Finland, New Zealand, Lithuania, Mali, and Ukraine) and its pipeline hit a new record of 478,000 rooms.
This flurry of positive data compelled Marriott’s executive vice president and global chief development officer, Tony Capuano, to issue a statement proclaiming: “with the world’s largest pipeline of hotels, a growing loyalty base of 120 million members and a compelling value proposition to our partners, Marriott is positioned to fuel expansion further in 2019.”
Capuano is right that there’s cause for optimism: according to the latest STR data, Marriott’s luxury pipeline is bigger than that of its three largest competitors combined!
Marriott owns luxury brands including The Ritz-Carlton, St. Regis, JW Marriott and Edition brand. Stripping out the company’s acquisition of Starwood in 2016 to focus on its history of organic growth, the company added more rooms last year than ever before.
Dominion holds Marriott International in its Global Trends Luxury Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
- Click here to print this story: Print
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.