“Marriott International continued to increase its global presence in 2017, opening properties in 5 new countries and territories and reaching a presence in 127 countries and territories around the world,” said Tony Capuano, Executive Vice President and Global Chief Development Officer, Marriott International. “Our growth is fueled by the broadest portfolio of lodging brands in the industry, impressive international expansion, and a large proportion of projects in the most valuable tiers. We are particularly pleased with the accelerating growth of our legacy Starwood brands.”
In 2017, the company signed more than 750 contracts for new hotels representing nearly 125,000 rooms under long‐term management and franchise agreements. Its global pipeline grew to a record 460,000 rooms, with over half located outside of North America.
“Marriott’s growing development pipeline in 2017 was fueled in part by synergies associated with the Starwood acquisition. We expect owners will see additional benefits as we continue to realize more synergies, including the harmonization of our reservation platform currently in the works and high value relationships like the recently completed co-brand credit card agreements with American Express and JP Morgan Chase,” said Leeny Oberg, Executive Vice President and Chief Financial Officer, Marriott International.
Outside of North America, Marriott opened over 140 hotels and approximately 30,000 rooms in 2017. In the Asia Pacific market alone, the company opened 18,000 rooms and signed 31,000 rooms in 2017. Today, the Asia Pacific market represents 15 percent of our global rooms but nearly a third of the company’s pipeline. Greater China alone represents 8 percent of the company’s global rooms and 19 percent of the year-end pipeline.
In 2017, Marriott seized on the growing demand for select service hotels worldwide, signing a record 578 contracts for its 11 brands such as Courtyard, Moxy, and AC. Outside of North America, select service signings totaled 158 contracts with particular strength in the Asia Pacific region. In North America alone, the company opened 270 select service hotels and signed 420 select service agreements.