Marriott marvels in the million

DAVOS, Switzerland Marriott International Inc announced, Tuesday, that it expects its portfolio of hotels, either open or under development, to surpass 1 million rooms by the end of 2015.
When open, the hotels under development will have generated more than USD50 billion in real estate investment globally by hotel owners who partner with Marriott, through management deals.
“The growth in Marriott’s portfolio is truly a global trend, with strong expansion in the US and in many markets around the world,” said Marriott’s president and chief executive officer, Arne Sorenson
“In 2014 alone, Marriott signed agreements for more than 650 hotels and 100,000 rooms to be added to its worldwide system over the next few years, a signing pace of nearly two new hotel deals a day.”
Inside no.8“The doors to travel are increasingly open, as seen in the recent landmark agreement between China and the United States for mutual 10-year visas. Since that policy change was announced there has been a nearly 39% increase in applications for US visas for Chinese visitors, who spend on average, USD7,000 per trip. The potential for new travel and economic growth is huge,” said Sorenson
“Clearly efforts to grow, generate economic opportunity and encourage travel can pay big dividends, not just for companies involved, but for communities around the world,” he said.
Marriott added in 2014, more than 46,000 rooms worldwide, to its system. It Also added 650 new hotels to its pipeline with 100,000 rooms giving it a total pipeline of 240,000 rooms .
“When opened over the next few years, these new hotels will expand Marriott’s presence from 80 countries and territories, today, to more than 100. This continues an historic four-year surge in demand for new Marriott hotels that drives a bullish growth outlook.”
In Asia, the company expects to more than double its distribution as hotel projects in the current pipeline open, more than doubling Marriott’s presence in the Asia-Pacific region.
Marriott International reported revenues of nearly USD13 billion in fiscal year 2013 from hotels it operates, franchises hotels or licenses under 18 brands.

sourced:ttrweekly.com