What 3 Brands Does Marriott International Plan to Grow?
Marriott International, the world's largest hotel company, recently announced plans to expand three of its hotel brands during the 39th Annual NYU International Hospitality Investment Conference in New York City.
In the wake of acquiring Starwood Hotels and Resorts in 2016, Marriott now possess more than 240 independent hotels across three separate brands—The Luxury Collection, Tribute Portfolio, and Autograph Collection Hotels. According to industry projections, each of those brands is forecasted to grow by 20 percent throughout 2017, with plans calling for the opening of more than 40 new properties throughout the globe.
That's a rosy projection for Marriott to be sure, and if predictions hold true, it could become even rosier in the years to come. In fact, that same three-brand collection is on track to grow by 50 percent by the year 2019. Marriott International President and CEO Arne M. Sorenson recently spoke about what this means for his company.
"Marriott is now able to offer more choices than ever, especially for owners and guests who prefer an independent hotel experience," Sorenson said. "We doubled our portfolio of independent hotels with the acquisition of Starwood and significantly increased our global footprint. The growth projected for the next few years underscores the demand Marriott is seeing for more customized, local experiences."
With that in mind, it's important for interested stakeholders throughout the global hospitality industry to note the specifics of the three brands involved with this growth.
The Autograph Collection ranks as one of Marriott International's fastest growing brands, with about 120 hotels spread throughout 30 countries. This year, the brand has openings slated in China and Malaysia, with another hotel set to arrive in South Korea some time in 2018. If that's not impressive enough, Autograph's North American pipeline consists of 47 signed hotels, which will be rolled out in the coming years.
The Tribute Portfolio, meanwhile, is comprised of more than 20 hotels, with 14 additional properties currently in its pipeline, spanning the Asia Pacific region, Europe, North and South America. The most notable of this group is likely the Wick Hotel, which will debut in New York City this coming fall.
Finally, The Luxury Collection includes more than 100 hotels throughout 30 plus countries and territories. Some of the most notable locations within this brand include the Gritti Palace in Venice and Santa Marina, a Luxury Collection Resort, in Mykonos. As with the other two brands, the future is bright for Luxury Collection, which will make its debuts in three new countries throughout 2017, also launching its first ski resorts: Cristallo, a Luxury Collection Resort and Spa in Cortina, Italy, and Hotel Talisa, a Luxury Collection Resort in Vail, Colorado.
Let´s take a look at some of the projects mentioned in the article:
MENLO GATEWAY HOTEL NIA, AUTOGRAPH COLLECTION
The hotel will be a unique, upscale, independent hotel designed to reflect the personality of Menlo Park. It will be part of Marriott's Autograph Collection, an ensemble of independent hotels of high quality design, bold originality, rich character and uncommon details.
THE SARASOTA MODERN, A TRIBUTE PORTFOLIO HOTEL
The Sarasota Modern, a Tribute Portfolio Hotel is a boutique property planned for downtown Sarasota Florida.
THE JOSEPH NASHVILLE – A LUXURY COLLECTION HOTEL
The full-service, luxury The Joseph Nashville will have a strong focus on contemporary design, art, music and cuisine and showcase work of Tennessee visual and performing artists.
More information on Marriott International and other Hotel Groups can be found onTOPHOTELPROJECTS, the specialized service provider in the exchange of cutting-edge information in the international hotel industry.
