Marriott International Opens 800th Property in Asia Pacific
Marriott International, Inc. [NASDAQ: MAR] today announces the opening of its 800th property in Asia Pacific, the JW Marriott Nara in Japan. The opening marks the entry of the JW Marriott brand into Japan. The company also expects the EDITION and Aloft brands to debut in Japan before the end of the year. Across the Asia Pacific region throughout 2020, the Moxy brand anticipates its first hotel opening in China.
“We remain confident in the resilience of travel, our owners and franchisees, guests and associates as well as the future prospects of lodging in Asia Pacific, our second largest market, ” said Craig S. Smith, Group President, Asia Pacific for Marriott International.“We are encouraged by recent trends, especially in China, where demand has been driven primarily by domestic tourism, and we will continue to focus on strengthening our footprint in this important, growing market.”
Marriott International in Asia Pacific has, on average, added close to 80 hotels per year in the last three years, with its pipeline growing by nearly 10 percent annually over the same time period. In the first half of 2020 alone, the company recorded 73 new signings, including 43 in the Greater China region.
“These highly anticipated brand debuts are a testament to the confidence that the owner and franchisee community has in Asia Pacific, as well as Marriott International’s long-term vision, especially in today’s challenging business climate,” said Paul Foskey, Chief Development Officer, Marriott International, Asia Pacific. “Our owners and franchisees trust and choose Marriott International because of our overall reputation for product quality, our powerful and differentiated portfolio of brands, our Marriott Bonvoy loyalty program with more than 142 million global members, and our proven track record of operational excellence.”
Continued confidence and trust from the owner and franchisee community
In the last three years, Marriott International in Asia Pacific saw a 20 percent increase in the number of conversion hotels added to the portfolio on an annual basis. Conversions allow owners and franchisees to plug into the Marriott system at a quicker pace compared to opening a new build hotel. This year, the company signed Singapore’s first two Autograph Collection hotels – Marriott International’s dynamic collection of independent hotels that champions individuality – both anticipated to fly the Autograph Collection brand flag in 2021.
With six billion domestic trips made in 2019 alone in China, largely attributed to a rise in average disposable income, demand for brands positioned at a moderate price-point such as Fairfield and Moxy has gained momentum amongst both travellers and hotel owners. To meet this growing demand and support franchisees, Marriott International has introduced an “Enhanced Franchise” model. Under this model, Marriott will appoint a general manager for the first year of a hotel’s opening to help train and equip franchisees to leverage Marriott’s powerful systems.
Ready to welcome guests with trusted brands and experiences in new destinations
Marriott International recently debuted the AC Hotels by Marriott brand in Asia Pacific with three AC by Marriott hotels in Malaysia earlier this year and the AC Hotels Tokyo Ginza earlier this month. AC Hotels by Marriott celebrates the beauty of modern design with its European soul and Spanish roots with hotels that are intuitively designed. Also in Japan and situated on the edge of a 1,300-year-old garden set on former royal palace grounds, the 158-room JW Marriott Nara is the first offering from the JW Marriott brand in the country. Additionally, expected to open by the end of this year, the EDITION Toranomon in Tokyo is slated to be the brand’s debut in the country.
With millennials expected to return to travel first, the anticipated opening of the Moxy Shanghai Xujiahui this year is expected to be an ideal addition to the vibrant cosmopiltan city. The millennial-focused Moxy brand features lively public spaces, minimalist design elements and rooms fitted with custom furniture that offers a playful style of traveling.
Elevated cleanliness standards
Earlier this year, Marriott International announced a multi-pronged approach designed to meet the health and safety challenges presented by the current circumstances. The company established a global cleanliness council to develop and implement a new generation of global hospitality cleanliness standards, norms and behaviors for its more than 7,400 properties around the globe.
Note on forward-looking statements: This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws, including expected hotel openings and brand debuts in certain markets, the number and location of lodging properties the company may add in future years, demand trends in certain markets and for certain brands and similar statements concerning possible future events or 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 accurately predict or assess, including those we identify below and other risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Quarterly Report on Form 10-Q. Risks that could affect forward-looking statements in this press release include the duration and scope of the coronavirus and efforts to contain it (“COVID-19”), including whether and to what extent a resurgence of the virus could occur after the pandemic initially subsides; its short and longer-term impact on the demand for travel, transient and group business, and levels of consumer confidence; actions governments, businesses and individuals have taken or may take in response to the pandemic, including limiting or banning travel and/or in-person gatherings or imposing occupancy or other restrictions on lodging or other facilities; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies, travel, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the ability of our owners and franchisees to successfully navigate the impacts of COVID-19; the pace of recovery when the pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps we and our property owners and franchisees take to reduce operating costs and/or enhance certain health and cleanliness protocols at our hotels; the impacts of our employee furloughs and reduced work week schedules, our voluntary transition program and our anticipated above-property position eliminations later in 2020; competitive conditions in the lodging industry; relationships with clients and property owners; and the availability of capital to finance hotel growth and refurbishment. Any 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.
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,400 properties under 30 leading brands spanning 134 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy™, its highly-awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.
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