Marriott on Massive Expansion Drive
Marriott International confirmed its explosive growth at the America’s Lodging Investment Summit in Los Angeles, citing information published by Smith Travel Research. The company signed more than one hotel project per day in 2013 to reach a record of 387 hotels and 67,000 rooms. It opened almost 26,000 new rooms in 2013 and expects that number to increase in 2014 and 2015.
“In 2013, we completed the largest number of new hotel deals in our company’s history,” says Tony Capuano, executive vice president and chief development officer for Marriott International.
At year-end 2013, Marriott reported more than 195,000 rooms in development across five continents, compared to 143,000 rooms the year before. The company’s global pipeline included 72,000 hotel rooms under construction and 83,000 rooms signed but not yet under construction. Of those, more than 22,000 were under construction in the United States.
Data from Smith Travel Research identifies this as the largest U.S. hotel construction pipeline in the industry, according to Marriott, which now operates more than 3,800 properties and 650,000 rooms worldwide.