Press release
Marriott International Announces Global Growth of Apartments by Marriott Bonvoy Portfolio
Just one year after announcing its intention to expand presence in premium and luxury apartment-style accommodations, Marriott has opened its first property
About this update from Marriott International
[{"type":"text","content":"Just one year after announcing its intention to expand presence in premium and luxury apartment-style accommodations, Marriott has opened its first property in Puerto Rico and signed agreements in the United States, Italy, and Saudi Arabia\nBETHESDA, Md., Jan. 24, 2024 /PRNewswire/ -- Today, Marriott International, Inc. (Nasdaq: MAR) announced plans to further expand its new Apartments by Marriott Bonvoy™ brand offering, with signed development agreements in the United States, Italy, and the Kingdom of Saudi Arabia. Today's announcement comes on the heels of the recent opening of Marriott's first Apartments by Marriott Bonvoy property, Casa Costera, Isla Verde Beach, in San Juan, Puerto Rico.\n\n \n \n \n \n \n \n\n \n\"Marriott is thrilled to bring Apartments by Marriott Bonvoy to our development community around the world,\" said Marriott International Chief Financial Offer and EVP, Development Leeny Oberg. \"This new, compelling offering provides residential and hotel developers an excellent value proposition for new builds and conversion opportunities. As guests are increasingly blending work, personal and family travel, they are looking for a distinct and locally inspired solution to meet their longer-stay needs.\"\nProviding guests with a truly independent stay, complete with sizable living spaces and sophisticated locally inspired design, the properties are situated in prime locations and designed to offer premium and luxury apartment-style accommodations. No matter their length of stay, guests can expect private bedrooms, a separate living room, full kitchen, and in-unit washer and dryer to make them feel right at home.\nFrom an owner perspective, Apartments by Marriott Bonvoy provides residential and hotel developers a unique option to convert an existing building, pursue a new build, or integrate as part of a multi-use property with a dedicated welcome lounge, outdoor space, and other amenities. Current Marriott owners and franchisees who are looking to diversify their portfolios, as well as multi-family residential developers, have the power of both Marriott's trusted name and award-winning loyalty program, Marriott Bonvoy® behind each project.\nWith signed agreements in Detroit and St. Louis in the United States, Courmayeur, Valle D'aosta in Italy, and NEOM, Saudi Arabia, Apartments by Marriott Bonvoy is expected to ...