United-States-based hospitality giant, Marriott International, expects to add at least 19 new properties and more than 3,000 rooms to its Middle East and Africa portfolio in 2019.
The firm said the new additions underpin a strong demand for its diverse brands, and 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.
Based in Bethesda, Maryland, USA, Mariott currently encompasses a portfolio of more than 6,900 properties in 30 leading hotel brands spanning 130 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world.
“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 for the Middle East & Africa at 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,” he added.
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% 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:
With the recent opening of ‘W Dubai – The Palm’ and the anticipated openings of ‘W Muscat’ and ‘W Yas Island’, Mariott said that its hospitality chain, W Hotels should double its portfolio in the region.
The growth of Marriott’s premium brands 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 its premium portfolio for the region:
Meanwhile, ‘The Autograph Collection’, one of the group’s properties, anticipates marking its debut in Kenya with the addition of Sankara Nairobi. Marriott Hotels is also planning to open its second property in Algeria, in the capital city of Algiers.
The company said that it expects to continue building on its momentum from 2018 and is confident that each of its investments will indeed be profitable.