Press release
Marriott International Strengthens Leadership Position in Branded Residences, Announces Owner Recognition Platform
Strong Developer Value and Elevated Owner Experiences Continue to Fuel Growth for Marriott Branded Residences Portfolio BETHESDA, Md., July 22, 2024
About this update from Marriott International
[{"type":"text","content":"Strong Developer Value and Elevated Owner Experiences Continue to Fuel Growth for Marriott Branded Residences Portfolio \nBETHESDA, Md., July 22, 2024 /PRNewswire/ -- Today, Marriott International, Inc. (NASDAQ: MAR) announces the continued growth and global leadership of Marriott Branded Residences, along with enhanced Residence Owners benefits through ONVIA, the company's newly integrated Owner recognition platform.\n\n \n \n \n \n \n \n\n \nFor nearly 25 years, Marriott International has offered whole-ownership, private branded residences that are consistent with the level of design and service experienced at its renowned hospitality offerings. Leading the branded residential segment, Marriott has grown its open portfolio by nearly 50 percent since year-end 2019, with 138 open residential locations today, and a strong pipeline of 123 projects, representing around 90 percent growth on its existing footprint.\nWith 16 distinct residential brand offerings, Marriott's portfolio of branded residences provides an expansive array of lifestyle and location choices across both luxury and premium brands, such as The Ritz-Carlton, St. Regis, JW Marriott, Autograph Collection, EDITION, and W Hotels. The company's branded residence portfolio includes both co-located projects with a hotel of the same brand, and standalone properties, which comprise nearly 25 percent of open and pipeline projects.\n\"Since Marriott opened its first branded residence property in 2000, we have seen the space continuously grow and evolve in exciting ways, expanding opportunities for developers, brands and residents,\" said Dana Jacobsohn, Marriott International Chief Development Officer, U.S. Luxury Brands & Global Mixed-Use. \"With our wide-reaching brand portfolio, loyal customer base, and global recognition platform, we have not only created an exceptional product offering for prospective developers, but we are well-positioned for continued leadership in the segment.\"\nStrong Value Proposition for Developers \nMarriott Branded Residences offer development licensees a unique opportunity to generate added value with the world's largest hospitality and branded residences company. Developers benefit from buyer confidence driven by Marriott's renowned hospitality expertise, powerful brands, and long-term agreements. The Marriott Branded Residences portfolio is ...