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600th property in APEC, Adelaide Marriott Lodge – Picture Credit score Marriott Worldwide
Marriott Worldwide, Inc. reported a record-breaking yr in 2024, with the signing of 109 offers throughout 11 markets within the Asia Pacific, excluding China (APEC) area, contributing to vital development in its improvement pipeline.
Marriott Worldwide, Inc. introduced an distinctive yr of development in 2024 within the Asia Pacific, excluding China (APEC) area. The corporate signed a document 109 offers throughout 11 markets, including 21,439 rooms to its improvement pipeline and shutting the yr with 77,532 rooms within the area’s pipeline.
The corporate’s development was primarily pushed by strategic conversion and multi-unit settlement technique. Marriott Worldwide’s APEC area, excluding China, skilled vital growth throughout numerous market segments, together with the midscale and luxurious sectors. The corporate’s debut within the midscale section and the growth of its luxurious portfolio additional solidified Marriott’s main place within the area’s evolving hospitality panorama.
India, Japan, and Indonesia had been recognized because the highest-growth markets within the area, contributing to 72% of the area’s deal signings in 2024. The luxurious portfolio’s growth, which accounted for 19% of signed offers in 2024, included greater than 20 agreements representing 4,600 rooms throughout six Marriott Worldwide Luxurious Group manufacturers.
Conversion alternatives and multi-unit agreements had been instrumental within the area’s pipeline development, with conversions comprising 36% of 2024 signings. The corporate made a notable debut within the reasonably priced midscale area with the launch of 4 Factors Flex by Sheraton in Japan.
Marriott Worldwide expanded into new locations in 2024, together with Papua New Guinea. The corporate celebrated vital milestones, together with opening the 600th property in APEC, the one hundred and fiftieth property in India, the fiftieth property in Malaysia, and the one hundredth property in Japan. By the tip of 2024, Marriott Worldwide in APEC had 635 open properties throughout 25 manufacturers in 22 international locations and territories.
