Marriott International reported a remarkable year in 2024, achieving a net room growth of 6.8% and adding a record-breaking 123,000 gross rooms. The company's development pipeline expanded significantly, reaching over 577,000 rooms across 3,766 properties worldwide. Marriott also signed over 1,200 deals, averaging more than three per day, adding nearly 162,000 rooms globally. Notably, 34% of these signings were conversions, reflecting Marriott's strong appeal to existing hotels looking for rebranding opportunities.

Luxury Expansion

Marriott’s luxury portfolio saw impressive growth, with the total number of properties reaching 658 hotels, resorts, and branded residences across 74 countries. The company signed a record 61 luxury deals, bringing its pipeline to 266 luxury projects. Key luxury openings in 2024 included W Prague, The St. Regis on the Bund in Shanghai, and The Jeddah EDITION in Saudi Arabia. Additionally, The Ritz-Carlton Yacht Collection launched its second superyacht, Ilma, with a third, Luminara, set to debut in summer 2025.

Midscale and Affordable Segments

Marriott strengthened its presence in the affordable midscale segment, particularly through City Express by Marriott, which is set to expand into Nicaragua, Bolivia, Argentina, Peru, and Brazil. The brand is also preparing to launch in the U.S. and Canada. Meanwhile, the StudioRes extended-stay brand ended the year with 35 properties in development, expecting its first opening in 2025. Additionally, Four Points Flex by Sheraton recorded 28 open properties and 33 in the pipeline.

Regional Growth Highlights

• U.S. & Canada: Marriott surpassed 1 million rooms across 6,307 properties, with a record 608 deals signed in 2024. The region’s pipeline now includes nearly 263,000 rooms.
• Asia Pacific (excluding China): Marriott signed 109 deals, representing 21,439 rooms, increasing the pipeline to 363 properties.
• Greater China: A record 161 deals signed, adding nearly 31,000 rooms to the pipeline.
• Caribbean & Latin America: The region’s pipeline grew by 15%, with 67 new deal signings.
• Europe, Middle East & Africa: Marriott signed a record 291 deals, adding over 34,000 rooms and growing its pipeline by 10%.

Branded Residences & Alternative Hospitality

Marriott expanded its branded residential portfolio, ending the year with 142 open residential locations and a pipeline of 138 projects across 16 brands. Notable developments include The Westin Residences Gurugram in India and The Ritz-Carlton Residences, Boston, South Station Tower.

In addition, the company ventured into non-traditional hospitality by acquiring Postcard Cabins and partnering with Trailborn, enhancing its presence in outdoor-focused lodging.

With record-breaking growth and strong expansion across multiple segments, Marriott International continues to solidify its position as a global hospitality leader.