Marriott International Marks Another Year of Strong Acceleration in Signings

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[{"type":"text","content":"BETHESDA, Md., Jan. 23, 2023 /PRNewswire/ -- At the Americas Lodging Investment Summit (ALIS) in Los Angeles, Marriott International, Inc. (Nasdaq: MAR) announced that the company's deal signings accelerated again in 2022. The company signed an average of two deals a day, for a total of 726 management and franchise agreements, an increase of 21 percent over 2021 signings, representing nearly 108,000 rooms. In addition, Marriott's City Express transaction, announced in October 2022, is expected to add around 17,000 rooms.\n\n \n \n \n \n \n \n\n \nVIDEO: Marriott International Marks Another Year of Accelerated Signings\nConversions helped drive signings activity, contributing a robust 20,500 rooms, or approximately 20 percent of rooms signed during the year. Half of the 2022 rooms signed were in international markets, including key growth markets such as India, Saudi Arabia, Mexico, and the Caribbean. The company's industry-leading global development pipeline totaled over 3,000 properties representing more than 496,000 hotel rooms at the end of the year, excluding the City Express rooms.\nDuring the year, the company added 394 properties, representing more than 65,000 rooms on a gross basis, growing the system 4.4 percent. Including deletions of 1.3 percent, net rooms increased 3.1 percent. Excluding the impact of the company's exit from Russia, the deletion rate was 0.8 percent and net rooms increased 3.6 percent. At the end of 2022, Marriott's worldwide system consisted of nearly 8,300 properties and roughly 1.5 million rooms in 138 countries and territories.\n\"We were pleased with the accelerating pace of development activity in 2022 as the global recovery continued,\" said Anthony Capuano, CEO, Marriott International. \"The proven resilience of travel is powerful and energizing. Given the attractiveness of our portfolio of global brands, top-ranked Marriott Bonvoy loyalty program, momentum around conversions, and commitment to innovation, we are excited to continue to help lead in the growth of travel.\"\nExtending Marriott's Lead in Luxury \n With an unparalleled portfolio of nearly 500 luxury hotels and resorts in 69 countries and territories, Marriott is poised to extend its lead in luxury with a record 42 luxury hotel agreements signed last year, representing nearly 8,000 rooms. In 2022, Marriott opened a number of notab...

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