by Lacey Pfalz
Last updated: 12:20 PM ET, Mon April 15, 2024
Marriott International, Inc. announced plans to grow its portfolio in Europe through nearly 100 conversions and adaptive reuse projects by the end of 2026, which represent over 40 percent of its overall European development pipeline.
The company announced the news at the International Hospitality Investment Forum in Berlin, Germany. Marriott currently offers over 800 properties across 25 brands spanning 47 different countries and territories in Europe. In 2023, the company achieved record growth that it expects to continue into 2024 and beyond.
The nearly 100 hotel projects represent over 12,000 rooms. Countries seeing the most growth for this development include Italy, the United Kingdom, Spain and Türkiye.
One brand that will add five properties in the United Kingdom and Türkiye by the end of 2025 is the new midscale Four Points Express by Sheraton. Moxy Hotels, AC Hotels by Marriott, Four Points by Sheraton and Residence Inn by Marriott comprise over a quarter of anticipated conversions and reuse projects expected to open by the end of 2026.
Tribute Portfolio and Autograph Collection properties comprise over 20 percent of this growth. Luxury brands such as The Luxury Collection, W Hotels, The Ritz-Carlton and St. Regis Hotels & Resorts comprise 10 percent of the growth.
“We are seeing significant interest from independent hoteliers, developers and investors looking to leverage the efficiencies and advantages of renovating and rebranding existing hotels and properties," said Jerome Briet, Chief Development Officer, Europe, Middle East & Africa at Marriott International. “Adding an existing property to our portfolio provides access to Marriott Bonvoy, our well-established loyalty program, our sales and marketing platforms and our global customer base.
“This in turn gives Marriott the opportunity to further expand the breadth of our brand portfolio for our guests and members,” continued Briet. “We are particularly seeing momentum across The Luxury Collection, Autograph Collection and Tribute Portfolio brands which allow hotels an opportunity to keep their identity and personality while pulling into the power of Marriott’s global systems.”
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
