Business
Marriott International Continues Asia Pacific Growth With Nearly 100 Properties Expected To Open In 2021
75 Properties Opened Across Asia Pacific in 2020 HONG KONG, Jan. 18, 2021 /PRNewswire/ -- Marriott International, Inc. (Nasdaq: MAR) continues to expand its
About this update from Marriott International
[{"type":"text","content":"75 Properties Opened Across Asia Pacific in 2020\n\n\nHONG KONG, Jan. 18, 2021 /PRNewswire/ -- Marriott International, Inc. (Nasdaq: MAR) continues to expand its portfolio, expecting to open 100 properties in Asia Pacific in 2021, bringing more brands and experiences to new destinations for guests across the region. In 2020, the company celebrated its 800th milestone hotel opening in the region with 75 properties added to its portfolio during the year, representing more than one opening per week across the region. Nearly 27,000 rooms were added to the region's development pipeline in 2020 alone, in addition to the signing of Marriott's largest branded residences project with close to 4,200 units. \n\n \n \n \n \n \n \n\n \n\"I am proud of the way we have continued to grow and have moved quickly to adapt to the challenges that arose from the pandemic. With the launch of new global industry hygiene standards in April 2020, innovative offerings such as work anywhere packages and hyper-localised marketing and sales strategies, our nimble and forward-thinking approach will continue to lead us through the recovery,\" said Craig S. Smith, Group President, International, Marriott International. \"We are grateful for the continued resilience and positivity demonstrated by our associates and for the confidence our guests, owners and franchisees continue to have in us. We remain well-positioned to meet the travel demands of our guests across Asia Pacific and the rest of the world.\" \nGreater China has led the global recovery to date, and the company expects to soon celebrate its 400th hotel in Greater China and its 50th hotel in Shanghai with the opening of JW Marriott Shanghai Fengxian in spring 2021. With this hotel opening, Shanghai has the distinction of reaching this important milestone for the company in Asia Pacific.\nAccording to a joint report by consultancy Bain & Co. and Alibaba's Tmall Luxury unit, Mainland China is on track to become the world's largest personal luxury market by 2025 even seeing year-over-year domestic growth in 2020 despite the pandemic. To leverage this trend, Marriott International continues to strengthen its luxury portfolio with expected openings in 2021 such as W Changsha, W Xiamen, St. Regis Qingdao and The Ritz-Carlton Reserve Jiuzhaigou. With the anticipated opening of the Ritz-Carlton Reserve, China...