Marriott Plans to Add More than 200,000 Rooms in the Next Three Years
Marriott International will add more than six new hotels per week between 2014 and 2017, executives told security analysts and international investors on Monday, for a total of 200,000 to 235,000 new rooms. If plans come to fruition, the lodging giant would have more than 5,000 hotels in its portfolio, in 100 countries. The company is forecasting growth in revenue per available room of 6 percent this year, followed by annual increases of 4 to 6 percent in 2015 through 2017. "This is a great time to be in the hotel business," noted Marriott International president and CEO Arne Sorenson. "In 2012, international trips topped a record 1 billion, and we would like to see that double over the next 10 years. Economic growth and rising middle classes are driving this travel, and we now have more hotels open or in development outside the U.S. than at any time in our company's history." Marriott told investors the company is focused on aggressive growth in new markets and new brands. The six newest brands it has introduced or acquired -- AC Hotels by Marriott, Autograph Collection, Edition, Gaylord, Moxy and Protea -- are expected to account for 20 percent of the company's unit growth through 2017.