Marriott International Expands Presence in Coastal Xiamen with a Signed Agreement to Debut The Ritz-Carlton Brand

Rhea-AI Summary

Marriott International has signed an agreement with Xiamen Green Development Investment Group to introduce The Ritz-Carlton to Xiamen Island, Fujian Province. The project will be part of a mixed-use development featuring a 340-meter office tower, retail spaces, and Marriott Executive Apartments.

The Ritz-Carlton, Xiamen will offer 228 guest rooms, including 35 suites, multiple dining venues, 1,580 square meters of meeting space, and luxury amenities including a pool, fitness center, and spa. The adjacent Marriott Executive Apartments will feature 144 furnished apartments with dedicated facilities.

Located in the Siming District, the development offers convenient access to Xiamen Gaoqi International Airport, cultural sites, and Gulangyu Island. This expansion adds to Marriott's existing portfolio of five properties in Xiamen, a growing marine high-tech hub and tourist destination.

Positive

• Strategic expansion in a growing Chinese market with mixed-use development
• Premium location with access to key business and tourist destinations
• Diversified revenue streams through hotel rooms, apartments, and event spaces
• Addition of 372 total units (228 hotel rooms + 144 apartments) to portfolio

Negative

• None.

News Market Reaction

-0.12%

1 alert

-0.12% News Effect

On the day this news was published, MAR declined 0.12%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SHANGHAI, Dec. 23, 2024 /PRNewswire/ -- Marriott International, Inc. today announced the signing of an agreement with Xiamen Green Development Investment Group to introduce The Ritz-Carlton to Xiamen Island in Fujian Province. The Ritz-Carlton, Xiamen will deliver its legendary service and elegant aesthetic to immerse guests in one of China's most coveted destinations.  

"We are excited to bring The Ritz-Carlton to Xiamen, offering guests the opportunity to indulge in our legendary luxury services and transformative experiences in this dynamic coastal city," said Gavin Yu, Chief Development Officer, Greater China, Marriott International. "The signing underscores our unwavering dedication to broadening our brand presence and delivering elevated experiences in sought-after destinations across southern China."

Nestled in the Siming District, The Ritz-Carlton, Xiamen will be part of a premier mixed-use development that features retail spaces and a 340-meter office tower, which will become the tallest landmark in Xiamen and the wider Fujian province. The project will also include Marriott Executive Apartments, offering extended-stay options to complement the development's luxury offerings. With stunning sea views from nearly half of the hotel's guestrooms and proximity to key corporate and leisure hubs, the location is poised to become a prime destination for business and leisure travelers.

The site boasts excellent accessibility, located just a short drive from Xiamen Gaoqi International Airport and the nearest metro station. The famous Zhongshan Road Pedestrian Street, filled with local eateries and retail shops, and cultural sites such as South Putuo Temple and Xiamen University are also just a short drive away. Additionally, Xiamen First Pier, which provides ferry access to the UNESCO World Heritage-listed Gulangyu Island, is just a short walk from the hotels, making it convenient for guests to explore one of the city's premier leisure destinations.

The Ritz-Carlton, Xiamen is set to redefine luxury hospitality with 228 elegantly appointed guest rooms, including 35 expansive suites, each thoughtfully designed to offer a refined and sophisticated experience. Guests can indulge in a variety of exceptional culinary experiences, including a refined all-day dining restaurant, an authentic Chinese restaurant, an elegant Lobby Lounge, and a signature destination bar featuring craft cocktails and panoramic views of the Xiamen skyline. For meetings and events, the hotel will offer a grand ballroom and four versatile meeting rooms, totaling 1,580 square meters and providing an ideal venue for corporate gatherings and social occasions. The hotel's leisure facilities will include a 25-meter indoor swimming pool, a state-of-the-art fitness center, and the signature The Ritz-Carlton Spa, where guests can retreat to a haven of tranquility and rejuvenation.

Located beneath The Ritz-Carlton, Xiamen, Marriott Executive Apartments Xiamen will present 144 fully furnished contemporary apartments crafted to offer an elegant and comfortable home for long-stay guests. The property will be designed to ensure a seamless blend of convenience and sophistication, with a Residents Lounge serving breakfast and evening cocktails. Guests will also have access to the shared swimming pool with The Ritz-Carlton, Xiamen, a private meeting room for business needs, and a 100-square-meter fitness center. With a focus on creating a home-like atmosphere, Marriott Executive Apartments Xiamen will cater to the unique needs of long-term business travelers and families.

Xiamen, a vibrant port city and popular tourist destination in China is actively fostering its marine high-tech sector. The dual signing marks a significant expansion of Marriott International's footprint in this dynamic region, where the company currently operates five properties, meeting the diverse needs of both business and leisure travelers.

ABOUT MARRIOTT INTERNATIONAL
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 9,100 properties across more than 30 leading brands in 142 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 X and Instagram.

Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on its investor relations website at www.marriott.com/investor or Marriott's news center website at www.marriottnewscenter.com, which may be material. The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the SEC, and any references to the websites are intended to be inactive textual references only.

ABOUT LUXURY GROUP BY MARRIOTT INTERNATIONAL
With an unrivaled portfolio of seven dynamic luxury brands, Marriott International is creating authentic, rare, and enriching experiences sought by today's global luxurian. Spanning all corners of the world, Marriott International's luxury brands group offers a boundless network of more than 529 landmark hotels and resorts in 73 countries and territories through The Ritz-Carlton, Bvlgari Hotels & Resorts, St. Regis Hotels & Resorts, EDITION, The Luxury Collection, JW Marriott, and W Hotels. From the world's most iconic destinations to the ultimate undiscovered gems, the international hospitality leader's collection of luxury brands is focused on elevating travel with highly contextualized, nuanced brand experiences that signal the future of luxury by allowing guests to indulge their passions while sparking personal growth. For more information on Luxury Group, stay connected on Instagram.

ABOUT THE RITZ-CARLTON HOTEL COMPANY, LLC
Delivering the Gold Standard in service in coveted destinations around the world, The Ritz-Carlton Hotel Company, LLC currently operates more than 120 hotels in over 35 countries and territories. From iconic urban destinations to stretches of paradise in untouched corners of the earth, The Ritz-Carlton offers the opportunity for true discovery and transformative escapes that stay with guests long after they depart. Committed to thoughtful innovation, The Ritz-Carlton encompasses two groundbreaking brand extensions, Ritz-Carlton Reserve and The Ritz-Carlton Yacht Collection. Ritz-Carlton Reserve is a collection of rare estates set apart from the world, where personalized care and cultural immersion are paramount. The Ritz-Carlton Yacht Collection translates the brand's legendary service and hospitality for sea, reimagining the ultra-luxury cruising category. For more information or reservations, visit the company website at www.ritzcarlton.com, for the latest company updates, visit news.marriott.com and to join the live conversation, use #RCMemories and follow along on Facebook, Twitter, and Instagram. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ: MAR). The Ritz-Carlton is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments and unparalleled benefits including complimentary nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com. The Ritz-Carlton is committed to supporting the destinations where it operates through Community Footprints, the company's social and environmental responsibility program.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/marriott-international-expands-presence-in-coastal-xiamen-with-a-signed-agreement-to-debut-the-ritz-carlton-brand-302328725.html

SOURCE Marriott International, Inc.

FAQ

How many rooms will The Ritz-Carlton, Xiamen (MAR) have?

The Ritz-Carlton, Xiamen will feature 228 guest rooms, including 35 suites.

What facilities will The Ritz-Carlton, Xiamen (MAR) offer for meetings?

The hotel will offer a grand ballroom and four meeting rooms, totaling 1,580 square meters of event space.

How many Marriott Executive Apartments will be available in Xiamen?

The Marriott Executive Apartments Xiamen will feature 144 fully furnished contemporary apartments.

How many properties does Marriott International (MAR) currently operate in Xiamen?

Marriott International currently operates five properties in Xiamen.

What dining options will The Ritz-Carlton, Xiamen (MAR) offer?

The hotel will feature an all-day dining restaurant, an authentic Chinese restaurant, a Lobby Lounge, and a signature destination bar.