Press release
Marriott International Announces Record Year of Global Signings and Strong Net Rooms Growth
Net rooms grew 4.7% to over 1.597 million; company development pipeline ended 2023 at a record 573,000 rooms, an increase of 15 percent from the previous year
About this update from Marriott International
[{"type":"text","content":"Net rooms grew 4.7% to over 1.597 million; company development pipeline ended 2023 at a record 573,000 rooms, an increase of 15 percent from the previous year\nBETHESDA, Md., Jan. 22, 2024 /PRNewswire/ -- At the Americas Lodging Investment Summit (ALIS), Marriott International, Inc. (NYSE: MAR) announced the company's record year of global signings with 52 percent more organic rooms signed in 2023 than in 2022, as it continues to expand offerings for owners, franchisees, and guests. The company also announced that it achieved strong net rooms growth of 4.7 percent in 2023.\n\n \n \n\n \nDuring 2023, the company signed a record number of organic management and franchise agreements—an average of nearly 2.5 deals a day—representing approximately 164,000 rooms globally.\nIn the United States & Canada, Marriott's largest region, the company signed a record 91,000 rooms, 37,000 of which were the result of the company's strategic licensing agreement with MGM Resorts International. The company also saw robust signings growth outside of the U.S. & Canada with a record of nearly 73,000 organic rooms signed across 74 countries and territories, with particularly strong signings in China, Vietnam, Japan, United Arab Emirates, Mexico, Turkey, Saudi Arabia, and India. At year-end 2023, Marriott's global development pipeline totaled nearly 3,400 hotels and roughly 573,000 rooms, an increase of over 15 percent over a year ago. \nAt the end of 2023, Marriott's industry-leading worldwide system consisted of nearly 8,800 properties and more than 1,597,000 rooms in 139 countries and territories. Marriott added over 400 properties and nearly 64,000 organic gross rooms in 2023. The company also completed its acquisition of the City Express brand portfolio, bringing an additional 150 properties and approximately 17,500 rooms into Marriott's system during the year.\nAs Marriott continues to expand its offerings, the company notably increased the breadth of its portfolio, providing more opportunities for owners, franchisees, and guests. Marriott expanded its lead in luxury, announced its entry into the affordable midscale segment globally, increased its portfolio of branded residences, announced the planned the launch of the MGM Collection with Marriott Bonvoy, and continued to grow its share in the all-inclusive segment.\n\"Marriott remains focused on o...