Marriott plans big Asia Pacific push over next 12 months
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Marriott plans big Asia Pacific push over next 12 months

The coming year will see the world’s largest hotelier, Marriott International, increase its Asia Pacific footprint considerably. The company plans to open 16 new resorts in the region, across 7 brands in 10 countries. Currently, it has 130 “upper-upscale and luxury” resorts in Asia Pacific in countries including China, Malaysia, Vietnam, and Thailand. Marriott says the new resorts will give travelers “more choices when booking holidays, business events or special occasions.”

Marriott’s share price has appreciated by 44% year to date

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SOURCE: Yahoo Finance

Peggy Fang Roe, Marriott’s chief sales and marketing officer for Asia Pacific, said: “This is an exciting year for Marriott International in the Asia Pacific region as we deliver innovative, new ways to cater to today's and tomorrow's travelers. Our new openings demonstrate our promise to be where our guests want to be and provide them with everything they need to relax, recharge or celebrate a special milestone."

The company is expecting to benefit from Chinese travel trends in the region. The country is already the world’s largest source of outbound travellers, and rising incomes mean this trend is likely to continue. The China National Tourism Administration predicts that Chinese travellers will take 700 million trips over the next five years. With more disposable income, many of those trips will be focused on new luxury experiences – like staying in upmarket hotels.

Paul Foskey, Marriott’s chief development officer for the region, said: "Marriott International is proud to offer picture-perfect paradises for every occasion. We continue to cater to its ever-expanding customer base by introducing new brands, exciting destinations and unique experiences to its resorts portfolio."

Disclosure

Dominion holds Marriott International in its Global Trends Luxury Fund.


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