Hotel goliath Marriott is on a roll, branching out even further from its traditional hotels. The hotel giant will now have its finger in home sharing, retail, and resorts. We take a look inside Marriott’s diversification crusade.
Marriott and retail
TOPHOTELNEWS recently reported on Marriott’s deepening relationship with Simon Property Group, an organization that owns numerous shopping malls in the US. Marriott is set to open five new hotels adjacent to Simon’s retail and entertainment centres in the coming years. Marriott is on the mixed-use train, and Simon is the perfect partner with whom they can travel this road. , Marriott’s Chief Global Development Officer, says, “I think from a hotel perspective North America’s almost behind the rest of the world. In many other areas of the world, retail developers have always said, mixed-use is the way to go, and the hospitality and retail uses are quite complimentary for travelers, whether they are business travelers, groups, or certainly leisure travelers. And from the retail side, it gets more feet walking through the retail center, so I think it’s a win, win for both uses.” Although the common consensus is that online retailers like Amazon are killing the American mall, Marriott is convinced that there is an opportunity here and that a hotel in a retail center can help malls to remain relevant.
Marriott and home sharing
Like many of their competitors, Marriott is keen to take on the home sharing market and get a piece of the pie for themselves. The hotel group recently launched their Tribute Portfolio, as reported by TOPHOTELNEWS, which will offer more than 200 selected homes in London for customers to reserve. Guests of these serviced apartments will also receive loyalty points for Marriott and Starwood loyalty programs, a big incentive for Marriott customers to try them out. What sets this service apart from Airbnb is Marriott quality control, ensuring everything is to a high standard, something which cannot be monitored with other sharing services.
As well as these developments in the diversification in Marriott’s portfolio, the company is already relying on tried and tested growth methods, such as expanding into new markets. TOPHOTELNEWS reported on Marriott’s first foray into West Africa with a new hotel in Accra, Ghana, and Capuano also said that the company has plans to expand in Japan, Eastern Europe and Colombia. He said, “Japan is on fire right now, and it’s an easy explanation to say, well they have the Olympics coming, but it’s much more than that. When you look at some of the economic trends in Japan, it’s a strong and growing market, and a market where we really have terrific traction.”
Let’s take a look at a few other projects currently underway by Marriott International:
More information on Marriot International hotel projects can be found in the TOPHOTELPROJECTS database. TOPHOTELPROJECTS is the specialized service provider of cutting-edge information of the hospitality industry.