Business
Marriott International Expects To Add Nearly 20 Properties Under Its Middle East And Africa Portfolio In 2019
DUBAI, United Arab Emirates, April 8, 2019 /PRNewswire/ -- Marriott International today announced it expects to add 19 new properties and more than 3,000
About this update from Marriott International
[{"type":"text","content":"DUBAI, United Arab Emirates, April 8, 2019 /PRNewswire/ -- Marriott International today announced it expects to add 19 new properties and more than 3,000 rooms to its Middle East and Africa portfolio in 2019. Underpinning a strong demand for its diverse brands, the new additions are in line with the company's expansion plans to add more than 100 new properties and nearly 26,000 rooms across the region by the end of 2023. Marriott estimates its development pipeline through 2023 represents up to $8 billion of investment from property owners and is expected to generate over 20,000 new jobs across the region.\n\n \n\"Our growth across the Middle East and Africa is fuelled by a strong demand for our diverse range of well-established brands, each offering different attributes that cater to this region's ever changing and evolving marketplace,\" said Jerome Briet, Chief Development Officer, Middle East & Africa, Marriott International. \"This region continues to present us with opportunities to further grow and enhance our portfolio across new and established markets. While the majority of our growth will be through new-builds, we are seeing an increasing number of conversion opportunities, especially in the luxury space.\"\nYear-to-date, the company has opened five new properties in the region and is expected to add 14 more - bringing its portfolio across the Middle East and Africa to nearly 270 properties and over 60,000 rooms - by the end of the year.\nUnwavering Demand for Luxury Brands that offer Unrivalled Experiences The company is poised to expand its luxury footprint in the region by more than 70 percent by the end of 2023, with more than 25 luxury properties under development. The company expects to grow its luxury portfolio in 2019 with seven anticipated openings across four brands:\nWith the recent opening of W Dubai – The Palm and the anticipated openings of W Muscat and W Yas Island, W Hotels should double its portfolio in the region. St. Regis anticipates debuting in Jordan and Egypt with the openings of The St. Regis Amman and The St. Regis Cairo. The iconic North Island is expected to join The Luxury Collection's portfolio of world-renowned hotels and resorts. JW Marriott anticipates marking its entry into Oman with the opening of the JW Marriott Muscat Convention Center.Substantial Growth across Premium Brands The...