Over the next five years, Marriott International plans to increase its portfolio in the Middle East and Africa by 50 percent and launch New Brands
The American group announced growth plans for the Middle East and Africa region, following signings for more than 30 properties and over 5,000 rooms in the last 12 months.
These signings put Marriott on track to increase its portfolio to nearly 370 hotels, representing more than 80,000 rooms across 21 brands. The group estimates that the signed projects will drive investment of about $1.8 billion by the property owners.
“It is a really exciting time for the Middle East and Africa region’s travel and tourism sector. With clear and ambitious visions set out by regional governments to grow and invest in the sector, the industry is thriving more than ever,” said Alex Kyriakidis, President and Managing Director, Middle East and Africa, Marriott International.
“Our growth plans across the Middle East and Africa not only reflect the high demand for our brands, but also the trust ownership groups have in Marriott International,” commented Samir Baidas, Chief Development Officer, Middle East and Africa, Marriott International.
Historically featuring a portfolio of hotels primarily in the upper-upscale segment, Marriott’s development pipeline also highlights strong growth opportunities for its seven luxury brands.
This growth will begin with the launch of EDITION in Abu Dhabi, the development of Courtyard by Marriott, Aloft, Element and Residence Inn by Marriott – represent over 40% of the properties expected to open in the next five years – and the stabilization of Marriott Executive Apartments and Sheraton – accounting for 30% of its next openings.
As of January 1, 2018, Marriott International had 6,431 hotels with a capacity of 1,235,512 rooms.
By Latifa Zenaina