Marriott signed a record 109 deals across 11 markets, contributing 21,439 rooms to the region’s development pipeline, closing the year with 77,532 total rooms in the region’s year-end pipeline.
The company continues to expand its portfolio across market segments, including its debut in the midscale segment and the expansion of its luxury portfolio, reinforcing Marriott’s lead in the region’s evolving hospitality landscape.
Growth across the board
In 2024, Marriott signed 109 deals representing 21,439 rooms in APEC, bringing its regional pipeline to 363 properties and 77,532 rooms — a 12% year-over-year increase. India, Japan, and Indonesia were the region’s highest growth markets, comprising 72% of the region’s deal signings in the year.
Growing the luxury portfolio in the region remains a key focus, accounting for 19% of signed deals in 2024. More than 20 agreements were signed representing 4,600 rooms in the region across six Marriott International Luxury Group brands.
This includes the expected debuts of EDITION in Jakarta, Indonesia, and Mumbai, India; The Ritz-Carlton in Jaipur and Udaipur, India; a second W Hotels in Singapore; and more.
Multi-unit agreements and conversion opportunities played a key role in the region’s pipeline growth, with conversions representing 36% of 2024 signings. Marking the company’s regional debut in the affordable midscale space, Marriott launched Four Points Flex by Sheraton in Japan, as part of a strategic multi-unit agreement with KKR to convert 14 properties across 10 cities in Japan. In November 2024, the brand celebrated its official debut in the region and the company’s 100th property in Japan with the opening of the Four Points Flex by Sheraton Osaka Umeda.
“As Marriott continues to expand its presence across APEC, we aim to continue broadening our portfolio of best-in-class brands and unforgettable experiences to meet the growing demand for travel,” said Shawn Hill, Chief Development Officer, Asia Pacific excluding China, Marriott International.
“By enhancing our offerings and entering new markets, we’re not only aiming to deliver greater value to owners, franchisees and developers but also adapting to the evolving needs of today’s travellers — across all stay purposes and experiences.”
Brand debuts
In 2024, Marriott entered new destinations and celebrated brand debuts in the region, centred around its growing traveller base. The company debuted in Papua New Guinea with the opening of Marriott Executive Apartments Port Moresby, increasing its operating presence to 22 countries and territories in APEC.
Following the brand’s success in Japan, South Korea and Australia, the lifestyle-focused Moxy Hotels brand also made its debut in key cities.
With an expanding portfolio, Marriott International in APEC closed 2024 with 635 open properties across 25 brands in 22 countries and territories, underscoring its position as a hospitality leader in the region. As Marriott continues to expand its offerings, the breadth and depth of the company’s portfolio remain well-positioned to offer a compelling value proposition for developers and real estate investors.
