Marriott announces record year of global signings

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Marriott International has announced a record year of global signings with 52 per cent more organic rooms signed in 2023 than in 2022, representing approximately 164,000 rooms globally.

The company also announced that it achieved strong net rooms growth of 4.7 per cent in 2023.

In the US and Canada, Marriott signed a record 91,000 rooms, 37,000 of which were the result of the company’s strategic licensing agreement with MGM Resorts International.

The company also saw robust signings growth outside of the US and Canada with a record of nearly 73,000 organic rooms signed across 74 countries and territories, with particularly strong signings in China, Vietnam, Japan, United Arab Emirates, Mexico, Turkey, Saudi Arabia and India.

At the end of 2023, Marriott’s global development pipeline totalled nearly 3,400 hotels and roughly 573,000 rooms, an increase of over 15 per cent over a year ago.

Marriott added over 400 properties and nearly 64,000 organic gross rooms in 2023 helped by the acquisition of the City Express brand portfolio, bringing an additional 150 properties and approximately 17,500 rooms into Marriott’s system during the year.

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.

In 2023, the company signed a record 58 deals for luxury hotels and resorts, bringing Marriott’s luxury portfolio in the global development pipeline to 245 hotels, including more than 20 hotels expected to open in 2024.

“Marriott remains focused on offering more best-in-class brands and experiences to meet the strong consumer demand for travel,” said Marriott International President and CEO Anthony Capuano.

“As we continue to expand our global brand portfolio, grow our Marriott Bonvoy loyalty platform, and provide innovative offerings to our owner and franchise community, we continue to meet the needs of guests across all stay purposes around the world. I am excited about our momentum as we strive to connect people through the power of travel.”