Marriott International (Marriott) expects its portfolio of hotels to surpass one million rooms by the end of 2015.
This figure includes the total number of rooms in properties that are currently open or under development.
The American-hospitality company has identified the recent visa agreement between China and the United States, and the rise of Chinese travellers, as significant factors for growth.
Arne Sorenson, Marriott’s president and chief executive, said: "The doors to travel are increasingly open, as seen in the recent landmark agreement between China and the United States for mutual 10-year visas. Since that policy change was announced there has been a nearly 39 percent increase in applications for US visas for Chinese visitors, who spend on average, seven thousand dollars per trip.”
Asia will continue to represent a key growth market for Marriott, with the company expecting to double its distribution as hotel projects in the pipeline gradually open. (For an in-depth analysis of major hotel groups' growth plans in Asia, see here).
Marriott's rapid expansion has led to partnerships with property owners in more than 100 countries, involving US$50 billion investment in real estate, and the creation of 150,000 new jobs.
“Together, our growth fuels economic development in communities around the globe, boosting construction and direct employment at the hotels, as well as incremental commerce that emerges around this growth”, said Sorenson.
For more information, visit marriott.com
Clement Huang
