Marriott International’s record year of global signings included 52% more organic rooms signed in 2023 than in 2022.

The dealings amounted to nearly 2.5 organic management and franchise agreements signed every day, representing some 164,000 rooms globally.

At the recent Americas Lodging Investment Summit (ALIS), Marriott International also announced that it achieved strong net rooms growth of 4.7% in 2023.

In the U.S. and Canada, Marriott’s largest region, the company signed a record 91,000 rooms, 37,000 of which were the result of the company’s strategic licensing agreement with MGM Resorts International.

The company also saw strong signings growth outside of the U.S. and Canada with a record of nearly 73,000 organic rooms signed across 74 countries and territories, with particularly strong signings in China, Vietnam, Japan, UAE, Mexico, Turkey, Saudi Arabia, and India.

At the end of 2023, Marriott’s worldwide system consisted of nearly 8,800 properties and more than 1,597,000 rooms in 139 countries and territories.

Marriott added over 400 properties and nearly 64,000 organic gross rooms in 2023. The company also completed its acquisition of the City Express brand portfolio, bringing an additional 150 properties and approximately 17,500 rooms into Marriott’s system during the year.

Marriott also expanded its lead in luxury, announced its entry into the affordable midscale segment globally, increased its portfolio of branded residences, announced the planned the launch of the MGM Collection with Marriott Bonvoy, and continued to grow its share in the all-inclusive segment.

The Luxury Sector

Marriott’s luxury portfolio now counts 623 open properties spanning 70 countries and territories. In 2023, the company signed a record 58 deals for luxury hotels and resorts, bringing Marriott’s luxury portfolio in the global development pipeline to 245 hotels.

Meanwhile more than 20 new luxury hotels are expected to open in 2024.

The past year also reflected W Hotels’ ongoing brand refresh and global expansion into new destinations, including the debut of W Budapest, the brand’s first hotel in Hungary, and W Edinburgh, the second W hotel in the UK.

Other highlights from the year include the opening of Rissai Valley, a Ritz-Carlton Reserve, marking the company’s 500th hotel in Greater China. The Ritz-Carlton brand debuted in the U.S. Pacific Northwest with The Ritz-Carlton Portland, the St. Regis brand debuted in the U.S. Midwest with The St. Regis Chicago, and three luxury hotels were signed in Vietnam (JW Marriott Trang An Resort & Spa, The Luxury Collection Resort, Hon Thom Island, and The Ritz-Carlton Reserve, Hon Thom Island).

Conversions & All-Inclusive

Nearly 25% of Marriott’s room openings in 2023 came from conversions.

Last year the company signed a record 184 conversion properties, representing nearly 65,000 rooms, including MGM. Marriott’s collection brands including Autograph Collection Hotels, The Luxury Collection, and Tribute Portfolio, represented 29% of global conversion rooms signed.

Marriott also grew its all-inclusive resort portfolio. Marriott continues to see global interest in all-inclusive, signing three deals in its EMEA region in 2023, bringing its portfolio to 49 open and pipeline properties located across 12 markets and 10 brands, with another six anticipated openings in 2024.

MGM Collection with Marriott Bonvoy

In July 2023, Marriott announced the signing of an exclusive long-term strategic licensing agreement with MGM Resorts International and the creation of the MGM Collection with Marriott Bonvoy, which is expected to launch in early 2024.

The agreement encompasses 17 of MGM’s resorts, representing more than 40,000 rooms in Las Vegas and other cities across the U.S.

The deal is expected to increase Marriott’s global rooms distribution by 2.3%.

Source: Travelweek