In 2024, Marriott International signed a record 161 hotel deals in China, adding over 30,000 rooms, despite a decline in market performance. The luxury segment saw a 73% increase in signings. Marriott celebrated its 50 years in the region and established a partnership with Delonix Group to grow its Tribute brand, while also focusing on hotel conversions and strategic developments.

Marriott International has demonstrated a powerful commitment to expansion within China, signing a remarkable total of 161 hotel deals during 2024, which translates to over 30,000 new rooms added to its portfolio. This robust activity persists despite a general downturn in the hotel market across the region, where revenue per available room (revpar) decreased by 2% in the fourth quarter of 2024, as reported by the company. CFO Leeny Oberg anticipates a flat revpar outlook for the year 2025.

CEO Tony Capuano expressed optimism regarding the long-term potential in Greater China, stating that record deal volumes achieved in 2024 reflect the development community’s faith in China’s growth prospects, even amid short-term challenges. The luxury segment witnessed a notable rise, with signings up 73% year on year, alongside significant contracts for new hotels like the second St Regis and Edition in Shanghai, Ritz Carltons in Xiamen and Wenzhou, and additions of W Hotels in Sanya and Hangzhou.

By the close of 2024, the group’s portfolio in the premium category expanded to 285 operating hotels, with additional 151 hotels planned. New Sheraton properties will be established in cities including Jinan, Hengyang, and Zhengzhou. “2024 was a landmark year for Marriott International in Greater China,” affirmed Yibing Mao, the president of Greater China. He highlighted the record signings, strategic collaborations, market expansions, and the company’s enduring commitment to diversifying guest experiences while enhancing value for owners.

Additionally, Marriott progressed in forming a partnership with Delonix Group, aimed at expanding the Tribute brand in China. Eight new properties were signed in 2024, with two already operational: the Grand New Century Hotel in Hangzhou and the Wonderland Resort in Jiande, which are now included in the Tribute Portfolio.

Hotel conversions have increasingly contributed to Marriott’s expansion strategy, not just globally but also specifically in Greater China. In 2024, the company inaugurated its first conversion hotel in the region, the Shanghai Marriott Hotel Yangpu Riverside. Furthermore, the Moxy Chongqing opened in Jiefangbei CBD, having been signed just a few months prior. Looking ahead to early 2025, Marriott announced the return of its Design Hotels brand to mainland China, with plans for Habo Hotel Shanghai to join the collection from its opening in October 2025.

In summary, Marriott International’s aggressive expansion in China’s hotel sector continued in 2024 with a record number of new signings, despite challenging market conditions. The company is enhancing its luxury and premium offerings, celebrating significant partnerships, and exploring hotel conversions to drive growth. With a strategic focus on Greater China, Marriott aims to diversify its portfolio and bolster its position in a key market.

Original Source: tophotel.news

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