Big figures
This includes a record 123,000 gross rooms openings, net rooms growth of 6.8% for the full year 2024, and over 577,000 rooms in the company’s development pipeline at year-end.
Marriott continued to expand its product offerings across travel purposes and segments – from affordable midscale to luxury.
In 2024, the company signed a record of over 1,200 deals with owners, franchisees and developers — an average of over 3 deals a day — representing nearly 162,000 rooms globally.
Leveraging the company’s strong revenue engines, leading affiliation costs, and robust portfolio of soft brands and conversion-friendly brands across segments, Marriott continued to have real momentum around conversions, with 34% of 2024 room signings resulting from conversion opportunities.
Luxury, affordable and midscale momentum
Marriott’s luxury portfolio of seven brands now comprises 658 hotels, resorts and branded residential properties, spanning 74 countries and territories. In 2024, the company signed a record number of 61 deals for luxury hotels and resorts, closing the year with 266 in the pipeline.
Marriott strengthened its presence in affordable midscale in 2024, focusing on offering regionally relevant lodging options for every trip purpose.
Branded residences double in revenue
In the branded residences sector, Marriott remains the largest branded residences company globally and Marriott is entering its 25th year in the segment.
The company has grown its open portfolio by over 50% since year-end 2019, closing 2024 with 142 open residential locations and a pipeline of 138 locations (28% of which are standalone projects) across 16 distinct brands.
In 2024, the Marriott Branded Residences portfolio generated $2.1B in residential sales revenue for third-party developers, nearly double the previous year’s total.
