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Ahead of the Arabian Hotel Investment Forum, Marriott International has said it expects to add 19 new properties and more than 3,000 rooms to its Middle East and Africa portfolio in 2019.
Underpinning a strong demand for its diverse brands, the new additions are in line with the company’s expansion plans to add more than 100 new properties and nearly 26,000 rooms across the region by the end of 2023.
Marriott estimates its development pipeline through 2023 represents up to $8 billion of investment from property owners and is expected to generate over 20,000 new jobs across the region.
“Our growth across the Middle East and Africa is fuelled by a strong demand for our diverse range of well-established brands, each offering different attributes that cater to this region’s ever changing and evolving marketplace,” said Jerome Briet, chief development officer, Middle East & Africa, Marriott International.
“This region continues to present us with opportunities to further grow and enhance our portfolio across new and established markets.
“While the majority of our growth will be through new-builds, we are seeing an increasing number of conversion opportunities, especially in the luxury space.”
Year-to-date, the company has opened five new properties in the region and is expected to add 14 more – bringing its portfolio across the Middle East and Africa to nearly 270 properties and over 60,000 rooms – by the end of the year.
The company is poised to expand its luxury footprint in the region by more than 70 per cent by the end of 2023, with more than 25 luxury properties under development.
The company expects to grow its luxury portfolio in 2019 with seven anticipated openings across four brands, including W Hotels, St. Regis, the Luxury Collection and JW Marriott.
The growth of Marriott’s premium brands also remains steady across the region with more than 30 hotels expected to be added to the portfolio by the end of 2023.
By the end of 2019, the company expects to have added four new hotels under the Autograph Collection, Marriott Hotels and Marriott Executive Apartments brands.
In addition to the openings in 2019, Marriott is also focused on the transformation journey of Sheraton Hotels & Resorts, the company’s most global brand.
In the region, Sheraton Jeddah Hotel and Sheraton Grand Hotel, Dubai are currently undergoing renovations that represent the brand’s vision for the future.
Currently representing over 40 per cent of the company’s development pipeline through 2023, select-serve brands continue their rapid growth trajectory across the Middle East and Africa.
Building on the momentum from 2018 – with ten properties added across the region, including four Aloft hotels in the UAE – the company expects to add seven new properties by the end of this year.
Source: breakingtravelnews.com
