Marriott International Opens 800th Property In Asia Pacific
Milestone Opening Underscores The Continued Strength Of The Marriott International Portfolio In Asia Pacific With Brand Debuts Expected Across The Region Throughout 2020
Hong Kong - Marriott International, Inc. [NASDAQ: MAR] today announces the opening of its 800th property in Asia Pacific, the JW Marriott Nara in Japan. The opening marks the entry of the JW Marriott brand into Japan. The company also expects the EDITION and Aloft brands to debut in Japan before the end of the year. Across the Asia Pacific region throughout 2020, the Moxy brand anticipates its first hotel opening in China.
Marriott International in Asia Pacific has, on average, added close to 80 hotels per year in the last three years, with its pipeline growing by nearly 10 percent annually over the same time period. In the first half of 2020 alone, the company recorded 73 new signings, including 43 in the Greater China region.
"These highly anticipated brand debuts are a testament to the confidence that the owner and franchisee community has in Asia Pacific, as well as Marriott International's long-term vision, especially in today's challenging business climate," said Paul Foskey, Chief Development Officer, Marriott International, Asia Pacific. "Our owners and franchisees trust and choose Marriott International because of our overall reputation for product quality, our powerful and differentiated portfolio of brands, our Marriott Bonvoy loyalty program with more than 142 million global members, and our proven track record of operational excellence."
In the last three years, Marriott International in Asia Pacific saw a 20 percent increase in the number of conversion hotels added to the portfolio on an annual basis. Conversions allow owners and franchisees to plug into the Marriott system at a quicker pace compared to opening a new build hotel. This year, the company signed Singapore's first two Autograph Collection hotels - Marriott International's dynamic collection of independent hotels that champions individuality - both anticipated to fly the Autograph Collection brand flag in 2021.
With six billion domestic trips made in 2019 alone in China, largely attributed to a rise in average disposable income, demand for brands positioned at a moderate price-point such as Fairfield and Moxy has gained momentum amongst both travellers and hotel owners. To meet this growing demand and support franchisees, Marriott International has introduced an "Enhanced Franchise" model. Under this model, Marriott will appoint a general manager for the first year of a hotel's opening to help train and equip franchisees to leverage Marriott's powerful systems.
Marriott International recently debuted the AC Hotels by Marriott brand in Asia Pacific with three AC by Marriott hotels in Malaysia earlier this year and the AC Hotels Tokyo Ginza earlier this month. AC Hotels
by Marriott celebrates the beauty of modern design with its European soul and Spanish roots with hotels that are intuitively designed. Also in Japan and situated on the edge of a 1,300-year-old garden set on former royal palace grounds, the 158-room JW Marriott Nara is the first offering from the JW Marriott brand in the country. Additionally, expected to open by the end of this year, the EDITION Toranomon in Tokyo is slated to be the brand's debut in the country.
With millennials expected to return to travel first, the anticipated opening of the Moxy Shanghai Xujiahui this year is expected to be an ideal addition to the vibrant cosmopiltan city. The millennial-focused Moxy brand features lively public spaces, minimalist design elements and rooms fitted with custom furniture that offers a playful style of traveling.
Elevated cleanliness standards
Earlier this year, Marriott International announced a multi-pronged approach designed to meet the health and safety challenges presented by the current circumstances. The company established a global cleanliness council to develop and implement a new generation of global hospitality cleanliness standards, norms and behaviors for its more than 7,400 properties around the globe.
CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS
All statements in this announcement are made as of June 24, 2020. We undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. This announcement contains "forward-looking statements" within the meaning of federal securities laws, including statements related to expected leadership changes, our pipeline of new projects, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our Securities and Exchange Commission ("SEC") filings, including our most recent Quarterly Report on Form 10-Q.