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Marriott International (Symbol: MAR) is the world's leading hotel company, headquartered in Bethesda, Maryland, USA. With an impressive portfolio of nearly 8,900 properties across over 30 top-tier brands in 141 countries and territories, Marriott offers a diverse range of accommodations from luxury resorts to midscale hotels. Founded in 1927 by J. Willard and Alice S. Marriott as a root beer stand, the company has grown exponentially to become a giant in the hospitality industry, reporting revenues of nearly $14 billion in fiscal year 2015.
Marriott operates and franchises hotels and licenses vacation ownership resorts. The company's core business includes managing and franchising hotels across the globe, a model that allows it to maintain a robust presence with minimal asset ownership risk. As of the end of 2023, Marriott managed and franchised 97% of its total rooms. Its most prominent brands include Marriott, Courtyard, and Sheraton, while newer lifestyle brands such as Autograph Collection, Tribute Portfolio, Moxy, Aloft, and Element add contemporary flair to its offerings.
The company continues to demonstrate strong financial performance and growth. In 2023, global RevPAR (Revenue per Available Room) rose by 15%, while net rooms grew by 4.7%. The fee-driven, asset-light business model enabled record cash generation. Marriott Bonvoy, the company’s loyalty program, has 196 million members, contributing significantly to the company's revenue. Additionally, Marriott has strategically expanded its credit card offerings, with 31 co-brand cards across 11 countries.
Recent news highlights include the record addition of 81,300 rooms to its portfolio in 2023, driven by a significant deal with MGM Resorts International adding 37,000 rooms. The development pipeline also reached a new high with roughly 573,000 rooms at year-end. Marriott’s presence in the Caribbean and Latin America (CALA) saw substantial growth, adding over 170 properties and signing nearly 7,300 rooms in 2023.
Marriott’s financial condition remains strong with a disciplined approach to debt and shareholder returns. In 2023, the company repurchased shares worth $3.9 billion and aims to return $4.1 billion to $4.3 billion to shareholders in 2024. The company’s commitment to innovation and sustainability, as shown by the launch of the City Express by Marriott in the affordable midscale segment, ensures continued growth and adaptation to market trends.
Marriott International has consistently been recognized for its superior business ethics and as a top employer. It maintains a strong commitment to diversity and inclusion, providing equal employment opportunities and fostering an inclusive culture. For more information, visit marriott.com and marriottnewscenter.com.
The Ritz-Carlton, Bangkok has made its debut in Thailand, introducing a 260-key luxury hotel within the One Bangkok integrated district. Located in a 216-meter-high tower overlooking Lumpini Park, the property represents Marriott International's latest addition to its Luxury Group portfolio.
The hotel features distinctive amenities including three dining venues: Duet by David Toutain offering modern French cuisine, Lily's for contemporary sharing plates, and Caleō for afternoon tea and cocktails. The property boasts the city's largest Ritz-Carlton Grand Ballroom accommodating up to 1,200 people, a spa with five treatment rooms, two swimming pools, and an exclusive Club Lounge on the 23rd floor.
Guest accommodations range from 50-square-meter Deluxe Rooms to a 389-square-meter Ritz-Carlton Suite penthouse. The hotel emphasizes cultural experiences through daily activities including morning tai chi sessions, creative art tours, and traditional Klong Yao ceremonies.
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.
MGM Resorts International and Marriott International have officially launched W Las Vegas, transforming the 1,117-suite tower at Mandalay Bay into part of the W Hotels brand. Starting December 18, 2024, Marriott Bonvoy members can book stays and earn/redeem points at this new destination, which joins the MGM Collection with Marriott Bonvoy portfolio.
This marks another milestone in the strategic licensing agreement between both companies announced in 2023. The collaboration connects over 200 million Marriott Bonvoy members with MGM Resorts destinations across the U.S., while MGM Rewards members can status match across Marriott's global portfolio of approximately 9,000 properties. W Las Vegas becomes the 12th destination on the Las Vegas Strip within the MGM Collection.
Marriott International (NASDAQ: MAR) announces expansion into outdoor lodging through two key deals: the acquisition of Postcard Cabins (formerly Getaway Outposts) and a long-term agreement with Trailborn. The company plans to launch an outdoor-focused collection in 2025.
Postcard Cabins brings 29 properties with over 1,200 cabins across the U.S., offering nature retreats within two hours of major metropolitan areas. Trailborn contributes 559 rooms across five outdoor destinations, with locations near national parks and scenic areas.
Both portfolios will be integrated into Marriott's systems and the Marriott Bonvoy program in 2025, offering members alternative accommodations like tiny homes and cabins in nature-forward destinations. The new collection will focus on upscale and upper-upscale accommodations, providing conversion opportunities for franchisees and owners.
Marriott International (NASDAQ: MAR) has acquired Postcard Cabins, formerly known as Getaway, marking a significant expansion into the outdoor hospitality sector. Founded in 2015, Postcard Cabins operates over 1,200 cabins across 29 Outposts, having hosted 2.4 million guests who have spent over 40 million hours in nature.
The acquisition will integrate Postcard Cabins into Marriott's outdoor-focused collection, with expected integration into Marriott's systems and platforms, including Marriott.com and the Marriott Bonvoy mobile app, in 2025. This strategic move will connect Postcard Cabins with Marriott Bonvoy's 219 million members worldwide, significantly expanding its reach in the nature-based accommodations sector.
Missoni and The Ritz-Carlton have partnered to launch the exclusive Missoni Resort Club at The Ritz-Carlton, Bali. The collaboration transforms the resort's beachfront in Nusa Dua with Missoni's signature Italian design elements and colorful patterns. The partnership includes personalized beachfront experiences with branded items and a Missoni pop-up store offering exclusive capsule collections. The first collection is already available, with a second drop featuring bespoke patterns planned for June 2025. The project aims to promote Missoni's lifestyle philosophy through exclusive locations while enhancing The Ritz-Carlton's luxury hospitality experience.
The Ritz-Carlton, Naples announces the release of Cookies & Cocktails, a holiday cookbook featuring recipes from Executive Pastry Chef Lerome Campbell and resort mixologists. The cookbook, priced at $24.99, will be available from December 9, 2024, at The Ritz-Carlton, Naples and The Ritz-Carlton Naples, Tiburón locations. Proceeds will support hunger and poverty relief programs in Southwest Florida. The launch coincides with the unveiling of the resort's 2024 life-size Gingerbread House display, open nightly through December 24. The resort is also hosting various holiday events including Breakfast with Santa, Gingerbread House Decorating Classes, Teddy Bear Tea, and a NYE Black-Tie Gala.
Marriott International (MAR) has signed an agreement with New Development Group to open the second EDITION Hotel in Shanghai by 2026. Located in the Putuo District near Changfeng Park, the property will feature 278 luxurious rooms and suites with views of Suzhou Creek. The hotel will include three restaurants, two bars, a swimming pool, gym, spa, and meeting facilities.
This development expands Marriott's luxury portfolio in Greater China, which currently includes over 70 hotels. The project, designed by SCDA, aims to blend urban excitement with peaceful retreat, offering guests a unique luxury experience in one of Shanghai's dynamic commercial areas.
Marriott International (Nasdaq: MAR) announced that CFO and Executive VP of Development, Leeny Oberg, will present at the Barclays 2024 Eat, Sleep, Play Conference on December 5 in New York. Her presentation is scheduled for 10:30 a.m. ET and will be available via webcast on Marriott's investor relations website.
The webcast recording will remain accessible until December 30, 2024. Marriott International operates nearly 9,100 properties across more than 30 brands in 142 countries and territories, offering the Marriott Bonvoy® travel program to its customers.
Marriott International announces significant expansion of its branded residences portfolio in the EMEA region, with 70 projects including 43 in pipeline and 27 open properties. The company has signed 26 agreements in the past two years, more than double the previous two-year period. Notable upcoming projects include The St. Regis Residences in Costa del Sol, Spain, and W Residences at Dubai Harbour. The portfolio spans 13 luxury and premium brands across EMEA, offering enhanced benefits through the ONVIA owner recognition platform. Key developments set to open by end of 2024 include Nujuma, The St. Regis Al Mouj Muscat Resort, and The Ritz-Carlton Residences in Baku.
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