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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.
Marriott International (Nasdaq: MAR) has announced the expansion of its City Express by Marriott brand into the United States & Canada, marking the company's entry into the affordable midscale transient segment in these regions. This move follows the successful acquisition of the City Express brand portfolio in the Caribbean and Latin America (CALA) in May 2023, which increased Marriott's footprint in that region by approximately 45%.
The City Express by Marriott brand is designed to be conversion-friendly with opportunities for new builds in the future. It offers a light operational model and functional modern design, allowing owners to capitalize on consumer demand while leveraging Marriott's sales, distribution, and marketing capabilities. The company anticipates signed agreements and possible hotel openings in the U.S. & Canada under this brand in the coming months.
Existing City Express by Marriott properties have been integrated into the Marriott Bonvoy® program, allowing members to earn and redeem points. This expansion is part of Marriott's strategy to strengthen its presence in the affordable midscale segment and offer lodging options for every trip purpose and price point.
The Ritz-Carlton, Grand Cayman announces ticket sales for the 16th annual Cayman Cookout, scheduled from January 15-20, 2025. This premier culinary event will feature over 60 immersive cooking demonstrations, expert-led tastings, and transformative excursions led by renowned chefs including Eric Ripert, Daniel Boulud, José Andrés, and Andrew Zimmern.
The event offers unique experiences such as a private jet tour to Jamaica's GoldenEye, a Lionfish Cull with José Andrés, and a live recording of José Andrés' podcast. Guests can enjoy interactive cooking demonstrations, gourmet experiences, and exclusive chef-hosted lunches. The Cayman Cookout 2025 Overnight Offer includes daily breakfast, airport transfers, and admission to signature experiences.
Individual event tickets and overnight accommodations are available for purchase at caymancookout.com.
The Ritz-Carlton has launched its first-ever fashion collection in collaboration with Madrid-based menswear label Late Checkout. The capsule collection, titled 'Late Checkout: A Ritz-Carlton Story', features nine luxury pieces that blend The Ritz-Carlton's iconic branding with Late Checkout's hotel-inspired aesthetic.
The collection includes co-branded tailored jackets, V-neck sweaters, and white tees, all designed to offer a balance of sophistication and casual wearability. To support the launch, a campaign film directed by Rogelio and produced by Little Spain features actor Josh Hutcherson, showcasing The Ritz-Carlton's legendary service in a playful, narrative-driven format.
The collection will be available from October 1, 2024, on The Ritz-Carlton Shops and in China, with a retail experience at The Ritz-Carlton, Amelia Island starting October 19.
Sands China and Marriott International are set to introduce the first Luxury Collection Hotel in Macao. The Londoner Grand, located within The Londoner® Macao, aims to offer guests a unique blend of British charm and Macanese culture. Designed by Peter Silling & Associates, the hotel features Georgian-inspired architecture with elegant rooms and suites reminiscent of London's Mayfair district.
The hotel will add 2,405 rooms and suites to The Londoner Macao, along with five new dining concepts. These include Hampton Court (international and Chinese buffet), Chelsea Garden (all-day dining), The Conservatory (dim sum, tearoom, confectionery, and British pub), and two signature Chinese restaurants. This expansion aims to enhance The Londoner Macao's position as a premier resort destination for both business and leisure travelers, supporting Macao's status as a World Centre of Tourism and Leisure.
Marriott International and Sands China have signed an agreement to introduce The Luxury Collection brand to Macao. The Londoner Grand, a Luxury Collection Hotel, Macao is set to open in January 2025, offering 2,405 rooms and suites designed with Georgian-inspired architecture. Located on the Cotai Strip, the hotel will be near key attractions and feature five distinct dining concepts.
The hotel's interior design, led by Peter Silling & Associates, will emphasize elegant spaces with traditional paneling, linear headboards, and marble bathrooms. Suites will be decorated with art inspired by London's Mayfair district, and some will include terraces, kid rooms, media rooms, and private pools.
This collaboration between Marriott International and Sands China aims to elevate Macao's luxury hospitality landscape and expand The Luxury Collection's footprint in the region.
The Ritz-Carlton has opened its first property in Morocco, The Ritz-Carlton Rabat, Dar Es Salam. Located in the capital city of Rabat, this luxurious palace hotel is set within 440 hectares of forest and gardens, near the Royal Golf Dar Es Salam. The property features:
- 100 guestrooms and 17 suites with private terraces
- Multiple dining options including a Mediterranean Brasserie and a speakeasy bar
- A Ritz-Carlton Spa with ten massage rooms and two couple's suites
- A state-of-the-art fitness center and access to the prestigious Royal Golf Dar Es Salam
- Extensive meeting and event spaces, including a Grand Ballroom
The hotel's design blends Arab-Andalusian architecture with modern luxury, featuring intricate craftsmanship and opulent decor throughout.
The Ritz-Carlton Yacht Collection has launched Ilma, its second luxury superyacht, marking a significant expansion in the ultra-luxury yachting experience. The 790-foot vessel features 224 suites with private terraces and accommodates up to 448 guests. Ilma boasts five dining venues, including restaurants conceptualized by MICHELIN-starred chefs Fabio Trabocchi and Michael Mina, seven bars, and a wine vault.
The yacht offers innovative amenities such as an extensive Marina and Marina Terrace, a dynamic open-air space on Deck 10, and The Ritz-Carlton Spa. Ilma's inaugural season includes voyages in the Mediterranean, Caribbean, and Northern Europe, with stops at exclusive destinations. The launch reinforces The Ritz-Carlton's commitment to setting new benchmarks in luxury travel at sea.
Marriott International has been named in the Top 5 of the 2024 PEOPLE® Companies that Care List, marking its fifth consecutive year on the list and highest placement at number four. This recognition highlights Marriott's commitment to its sustainability and social impact platform, Serve 360: Doing Good in Every Direction.
Key achievements include:
- Pledges to hire 3,000 refugees in the U.S. and Europe by 2026, with over 1,600 already hired
- Mobilization during disasters, including $5.5 million in support for Maui wildfire relief efforts
- Providing daily lunches and essential supplies for students and staff in West Maui schools
- Supporting humanitarian relief efforts during crises like the 2023 earthquakes in Türkiye and Syria
This accolade follows Marriott's inclusion in the 100 Best Companies to Work For® list earlier this year.
Marriott International's (Nasdaq: MAR) President and CEO Anthony Capuano is set to speak at the 2024 Bank of America Gaming and Lodging Conference on September 5 at approximately 9:20 a.m. Eastern Time. The event will be webcast live and accessible via Marriott's investor relations website. The webcast will remain available until November 5, 2024.
Marriott International, headquartered in Bethesda, Maryland, boasts a portfolio of about 9,000 properties across more than 30 brands in 141 countries and territories. The company operates and franchises hotels and licenses vacation ownership resorts globally, offering the Marriott Bonvoy® travel program to its customers.
The Ritz-Carlton, Naples has unveiled an expanded Ritz Kids program aimed at fostering environmental awareness among young guests aged 5 to 12. The reimagined experience features a new Ritz Kids Room with interactive walls, demonstration stage, and aquariums, designed to spark curiosity about coastal Florida's ecosystem. Daily themed activities cover topics like Sea Creatures, Wildlife, and Shoreline, developed in partnership with the Conservancy of Southwest Florida.
The program includes complimentary tours of the Conservancy's Nature Center and electric boat tours of the Gordon River. Additional family activities at the resort include guided shelling tours and access to The Reservoir waterpark at The Ritz-Carlton Naples, Tiburón.
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