Published on April 21st, 2019 | by William Charles12
Marriott Wants To Add 1,700 New Hotels And Close To 300,000 New Rooms By 2021 (Update: 300 New Asian Properties By 2020)
Update 4/21/19: CNN is reporting that Marriott wants to add two new hotels a week in Asia and add a total of 300 properties by 2020. It’s interesting the amount of investment Marriott is willing to make in China in particular given that they recently accused Chinese state actors for being responsible for the SPG hack.
Today in an investor meeting Marriott outlined growth plans. They want to do the following by 2021:
- Add 1,700 new hotels
- Add between 275k to 295k rooms (current pipeline of 478k rooms total, 214k of these are currently under construction)
Currently Marriott has 6,900 properties and 1,300,000 total rooms so this is significant growth of 23-25% Marriott is predicting. It’ll be interesting to see if Marriott has any issues signing up new hotels given the bad press they have been receiving recently due to the SPG data breach and the customer service nightmare loyalty members are currently experiencing. These issues likely won’t have any affect in the near future as these new hotels will already be under contract, but it will be interesting to see what happens to existing properties as they come out of contract. Especially properties that used to be under the SPG brand.
Hat tip to TPG