Marriott International, Inc. today announced plans to expand its portfolio in Greater China with the planned addition of more than 50 hotels in more than 30 destinations across the region in 2022. The company also plans to open its 500and hotel in Greater China in early 2023, underscoring its confidence in the region’s long-term recovery and growth.
“Greater China is an important growth market for us. Over the past three years, Marriott International has expanded its presence in the region with an average of 40 hotel additions per year. Currently, our portfolio includes 448 hotels spanning 23 brands across more than 110 cities in Greater China,” said Mr. Henry Lee, President, Greater China, Marriott International. “In 2022, we will continue to focus on our ‘Brand + Destination’ development strategy, working closely with owners and franchisees to drive travel demand. We plan to introduce more hotel brands in more destinations in Greater China, providing our customers with diverse travel products and experiences.”
Luxury brands continue to be favored by Chinese consumers
According to the latest Bain & Company luxury researchChina’s share of the global luxury market rose to 21% last year, putting the country on track to become the world’s largest luxury market by 2025. Marriott International plans to strengthen its presence luxury hotel in other leisure destinations in the region and continues to differentiate its brand experiences to better serve guests.
In 2022, the company plans to unveil a Ritz-Carlton Reserve in the historic Jiuzhaigou Valley, a UNESCO World Natural Heritage Site. The W brand is set to debut in Macau, an international city with world-class dining, shopping and entertainment, with W Macau – Studio City scheduled to open later this year. JW Marriott, a brand rooted in holistic wellness, is set to debut in Changsha later this year, encouraging guests to maintain a holistic balance of mind and body on the go.
High-end brands are on the rise with the leisure travel trend
Marriott International is poised to strengthen the presence of its premium brands in leisure destinations in 2022. The company plans to add more than 15 hotels in more than 10 destinations, aiming to satisfy customers’ desire for explore popular cities for getaways such as Chengdu, Xi’an, Sanya and Qinhuangdao.
Sheraton Hotels & Resorts plans to continue expanding its presence in Greater China in destinations such as Ningbo, Xi’an and Beihai. Marriott Hotels will also bolster its portfolio with new hotels set to open in Qinhuangdao and Tianjin in 2022, providing more accommodation choices for leisure travelers while helping to drive the domestic travel market recovery.
Desire for Marriott’s Select Service Brands
Comprised of more than 50% of hotels scheduled to open in 2022, Marriott International’s portfolio of select service brands will continue to drive the company’s growth in Greater China. According to the “Trending in Travel” report by WTTC and Trip.com, in 2021, rural and suburban destinations in China have seen strong growth in booking rates, indicating an increased tendency for people to travel beyond first-tier cities. In light of this trend, Marriott International has strategic plans to further expand the presence of its select service brands in the secondary and tertiary markets in 2022.
Moxy Hotels, designed for the young at heart and known for its experiential, playful style and affordability, is set to bring its “Play On” spirit to more cities, including its planned debut in Suzhou and a planned second property in Xi’. year . Four Points by Sheraton plans to accelerate its growth with more than five planned openings in Greater China, debuting in cities including Nantong and Nanchang. The company also plans to launch Fairfield by Marriott in several niche destinations such as Huai’an, Liaocheng and Zibo.
With more than 50 hotels set to open in Greater China this year, the company expects local communities to see new employment opportunities, contributing to the vigorous development of China’s tourism industry.
Note on forward-looking statements
This press release contains “forward-looking statements” within the meaning of the United States federal securities laws, including statements relating to share growth; our growth pipeline; planned hotel openings and brand launches in certain markets; accommodation recovery, growth and demand trends and expectations; employment growth in certain markets; development trends and expectations; consumer demand trends and expectations; and similar statements regarding anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to predict or accurately assess, including risk factors that we identify in our filings with the United States Securities and Exchange Commission, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Each of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and comprises a portfolio of nearly 8,000 properties under 30 leading brands spanning 139 countries and territories. Marriott operates and franchises hotels and licenses resorts around the world. The company offers Marriott Bonvoy®, its award-winning travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. Plus, join us on Facebook and @MarriottIntl on Twitter and Instagram.
* The luxury market in China: 2021 a year of contrasts
* “Travel Trends: Emerging Consumer Trends in Travel and Tourism in 2021 and Beyond” by WTTC and Trip.com Group