Pictured: JW Marriott Hotel Königshof. Imagery © Nieto Sobejano.
Marriott International is reaching new heights with its hotel signing rate, with 2022’s second quarter marking a record for that period.
At quarter end, Marriott’s worldwide development pipeline totalled nearly 2,950 properties, 2% up from Q1’s 2,900 figure. This represents more than 495,000 rooms, including roughly 27,400 rooms approved, but not yet subject to signed contracts. The total is a 1% quarter on quarter rise from 498,000 in Q1.
Conversions driver
Approximately 203,300 rooms within 1,014 properties in the pipeline (41% of the total) were under construction as of the end of the 2022 second quarter, again a 1% quarter on quarter increase from 201,400 in Q1. 197 properties with roughly 27,400 rooms were approved for development, but not yet subject to signed contracts.
CEO Anthony Capuano analysed: “Signing activity has accelerated in 2022, setting a second quarter record. We signed 23,000 rooms around the world in the second quarter, nearly 30% of which were conversions from competitor brands. Conversions continue to be a meaningful growth driver, comprising roughly 25% of room additions in the quarter.”
High end analysis
The TOPHOTELPROJECTS database currently holds details of 1,010 high end Marriott group developments worldwide. The company’s domestic US market takes top spot for these geographically, with 307 projects, while China comes in second with 260. India is a distant third with 34 sites.
In terms of group brands focusing on high end hotels, the database shows that Marriott Hotels & Resorts is number one, with at least 108 projects underway. Runner-up is Courtyard by Marriott with 75 properties, while midscale brand Moxy Hotels is close behind with 71.
2023 peak
On the quality front, 444 of these projects are in the luxury five star segment, closely matched by upscale four star projects at 439. The remaining 127 are rated as three star.
The high end pipeline will peak in 2023 with 309 openings (31% of the total), while 186 sites – or 18% of the pipeline – will launch by the end of this year. A further 16%/163 projects are scheduled to complete in 2024, while the remaining 352 entries (35%) are either delivering in 2025 and beyond or are yet to be scheduled.
Major undertakings
Notable projects coming online shortly include Edition Singapore adding 204 rooms to the system in Q1 2023. The hotel’s design and services will take into account Singapore’s embrace of the future, technology and arts and culture.
Within Europe, JW Marriott Hotel Königshof in Munich, Germany, will add 108 rooms to Marriott’s capacity from Q4 2023. Highlights of this 10-storey site will include a wellness floor and a rooftop restaurant affording panoramic views over the city.
Today’s standings
The Marriott group also opened roughly 17,000 rooms/97 sites globally during the second quarter, including approximately 9,200 rooms in international markets outside its native USA, and nearly 4,400 rooms converted from competitor brands.
25 properties (3,661 rooms) exited the system during the quarter. At quarter end, Marriott’s global lodging system totalled more than 8,100 properties, with over 1,500,000 rooms.
Many TOPHOTELNEWS articles draw on exclusive information from the TOPHOTELPROJECTS construction database. This subscription-based product includes details of thousands of hotel projects around the world, along with the key decision-makers behind them. Please note, our data may differ from records held by other organisations. Generally, the database focuses on four- and five-star schemes of significant scale; tracks projects in either the vision, pre-planning, planning, under-construction, pre-opening or newly opened phase; and covers newbuilds, extensions, refurbishments and conversions.
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Marriott International is based in Bethesda, Maryland and encompasses a portfolio of more than 7,000 properties around the world.
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