At the Americas Lodging Investment Summit (ALIS), Marriott International provided details of its overall performance in 2023.
According to the company, a record number of organic management and franchise agreements were signed at an average of nearly 2.5 deals a day, representing approximately 164,000 rooms globally.
In the US and Canada, Marriott’s largest region, the company reportedly signed 91,000 rooms, 37,000 of which were the result of the company’s strategic licensing agreement with MGM Resorts International.
Marriott International also saw signings growth elsewhere with nearly 73,000 organic rooms signed across 74 countries and territories. Particularly strong signings were said to be in China, Vietnam, Japan, United Arab Emirates, Mexico, Turkey, Saudi Arabia, and India.
At year-end 2023, Marriott’s global development pipeline totalled nearly 3,400 hotels and roughly 573,000 rooms, an increase of over 15% from 2022.
At the close of 2023, Marriott’s worldwide system consisted of nearly 8,800 properties and more than 1,597,000 rooms in 139 countries and territories. Over 400 properties and nearly 64,000 organic gross rooms were added in 2023 and Marriott completed its acquisition of the City Express brand portfolio, bringing an additional 150 properties and approximately 17,500 rooms into the company’s system during the year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Marriott also expanded its lead in luxury, announced its entry into the affordable midscale segment globally, increased its portfolio of branded residences, announced the planned launch of the MGM Collection with Marriott Bonvoy, and continued to grow its share in the all-inclusive segment.
Marriott International president and CEO Anthony Capuano commented: “Marriott remains focused on offering more best-in-class brands and experiences to meet the strong consumer demand for travel.”