Business
Marriott International Launches All-Inclusive Platform To Bring Its Brands, Scale And Trusted Service To Growing, Global Vacation Segment
BETHESDA, Md., Aug. 5, 2019 /PRNewswire/ -- Responding to consumers' growing desire around the world for premium, worry-free vacations, Marriott
About this update from Marriott International
[{"type":"text","content":"BETHESDA, Md., Aug. 5, 2019 /PRNewswire/ -- Responding to consumers' growing desire around the world for premium, worry-free vacations, Marriott International, Inc. (NASDAQ: MAR) today announced it is launching an all-inclusive platform to serve this increasingly popular vacation segment. The company also announced that it has signed management contracts with hotel developers who plan to build five new all-inclusive resorts, investing more than $800 million and demonstrating their confidence in Marriott International's scale, loyalty platform and operational expertise. The resorts are expected to open between 2022 and 2025.\n\n \n\"Our new all-inclusive resort platform is a natural progression for Marriott International,\" said Tony Capuano, Marriott International's Executive Vice President and Global Chief Development Officer. \"It will provide the ownership community a game-changing value proposition for their luxury and premium resort projects around the world, while providing guests a new vacation option with brands they trust.\"\nMarriott International plans to further expand its all-inclusive portfolio in popular, leisure destinations worldwide with a mix of new-build properties and conversions of existing resorts, including properties currently in the Marriott International portfolio. The new platform will provide the company's 133 million Marriott Bonvoy members the option to earn and redeem points for this convenient, pay-one-price concept.\nMore than 2,000 rooms in the works\nMarriott International's newly signed management contracts are expected to deliver five all-inclusive properties in the Caribbean and Latin America that, combined, would offer more than 2,000 rooms. The planned resorts include:\nPunta Cana, Dominican Republic 650-room Autograph Collection resort (2022 anticipated opening)NIA, Riviera Nayarit, Mexico 240-room The Ritz-Carlton resort (2023 anticipated opening) 400-room Westin Hotels resort (2023 anticipated opening) 300-room Autograph Collection resort (2025 anticipated opening) 500-room Marriott Hotels resort (2025 anticipated opening)Mexico City-based Artha Capital, a leading private equity firm and real estate developer, plans to create NIA, a flagship, all-inclusive destination to feature four of Marriott International's premium and luxury brand experiences in Riviera Nayarit. The project is sla...