Marriott’s Pacific Growth Spree: 100+ Deals in 2024

Marriott’s Asia Pacific Success

Marriott International announced another year of strong growth in the Asia Pacific, excluding China (APEC). The company signed a record 109 deals across 11 markets, adding 21,439 rooms to the region’s development pipeline and closing the year with 77,532 rooms in the region’s year-end pipeline. The company continues to expand its portfolio across market segments, including its debut in the midscale segment and the growth of its luxury portfolio, reinforcing Marriott’s leadership in the region’s evolving hospitality landscape.

“2024 was a record-breaking year for Marriott International in APEC, with exceptional growth driven by key development milestones, market expansions, and the introduction of new brands in sought-after destinations,” said Rajeev Menon, President, Asia Pacific excluding China, Marriott International.

“As we continue to meet the evolving needs of modern travelers, APEC remains a pivotal region in our company’s growth strategy, reinforcing our position as a leader in the global hospitality industry.”

Accelerated Growth Across Segments

In 2024, Marriott finalized 109 agreements totalling 21,439 rooms in APEC, expanding its regional pipeline to 363 properties and 77,532 rooms—a 12% increase from the previous year. The highest growth markets in the region were India, Japan, and Indonesia, which accounted for 72% of the year’s deal signings.

Expanding the luxury portfolio in the region remains a central focus, comprising 19% of signed agreements in 2024. Over 20 contracts were finalized, representing 4,600 rooms across six Marriott International Luxury Group brands. These contracts address the growing demand from wealthy travellers looking for upscale, experiential accommodations in established and emerging locations. This includes the anticipated launches of EDITION in Jakarta, Indonesia, and Mumbai, India; The Ritz-Carlton in Jaipur and Udaipur, India; and a second W Hotels location in Singapore, among others.

Multi-unit agreements and conversion opportunities were crucial for the region’s pipeline growth, accounting for 36% of 2024 signings. In a significant move into the affordable midscale sector, Marriott introduced Four Points Flex by Sheraton in Japan through a strategic multi-unit agreement with KKR, aiming to convert 14 properties across 10 Japanese cities. The brand commemorated its official regional introduction and the company’s 100th property in Japan with the opening of the Four Points Flex by Sheraton Osaka Umeda in November 2024.

“As Marriott continues to expand its presence across APEC, we aim to continue broadening our portfolio of best-in-class brands and unforgettable experiences to meet the growing demand for travel,” said Shawn Hill, Chief Development Officer, Asia Pacific excluding China, Marriott International.

“By enhancing our offerings and entering new markets, we’re not only aiming to deliver greater value to owners, franchisees and developers, but also adapting to the evolving needs of today’s travelers — across all stay purposes and experiences.”

Market Expansion and Brand Debuts

In 2024, Marriott expanded into new destinations and launched brand introductions in the region, focusing on its growing traveller audience. The company marked its entry into Papua New Guinea with the launch of Marriott Executive Apartments Port Moresby, elevating its operational footprint to 22 countries and territories within APEC.

Building on the brand’s achievements in Japan, South Korea, and Australia, the lifestyle-oriented Moxy Hotels brand also made its entrance in significant cities, including Moxy Bengaluru Prestige Tech Cloud in India, Moxy Putrajaya in Malaysia, and Moxy Bangkok Ratchaprasong in Thailand, targeting a younger demographic of travellers looking for vibrant and design-driven accommodations.

Celebrated Milestone Openings

Building on a record-breaking year of development and pipeline growth, the company also celebrated significant opening milestones in APEC, including:

• 600th property in APEC – Adelaide Marriott Hotel, Australia
• 150th property in India – Katra Marriott Resort & Spa
• 50th property in Malaysia – Penang Marriott Complex
• 100th property in Japan – Four Points Flex by Sheraton Osaka Umeda

By the end of 2024, Marriott International in APEC had grown its portfolio to 635 operational properties spanning 25 brands across 22 countries and territories, reinforcing its status as a regional hospitality leader. As Marriott extends its services, the extensive range of the company’s portfolio is strategically positioned to present an attractive value proposition for real estate developers and investors.