Marriott International (NASDAQ: MAR) today announced its continued expansion plans in Asia-Pacific with its 2020 vision. The aim is to open 1,000 properties by the end of 2020, a nearly 40 percent increase, and expects to add an estimated 40 percent more job opportunities in the region.
Marriott International Asia Pacific currently has 140,000 associates, but with this new vision, they could create up to 50,000 more job opportunities for the region.
In 2019 alone, the company expects to add close to 100 new hotels or close to 20,000 rooms in the region, with several brand debuts in Australia, Hong Kong, The Philippines, Nepal and India. Marriott International’s portfolio in Asia Pacific currently encompasses over 710 properties in 23 countries and territories, operating under 23 of the company’s 30 global brands.
“We are dedicated to Marriott International remaining Asia Pacific’s favorite travel company.” Craig S. Smith, President and Managing Director, Marriott International Asia Pacific highlighted.
China continues to be the strongest growth driver for Marriott International in Asia Pacific, with more than 300 hotels in the pipeline. This accounts for more than 50 percent of the company’s pipeline in Asia Pacific. This year alone, Marriott International targets to open more than 30 hotels in China.
While India continues to be the company’s second fastest growth engine in Asia Pacific with more than 50 properties in the pipeline. Marriott expects to reach more than 30,000 rooms open in India by end 2023. Given India’s robust economy and rising middle class, the country continues to present exciting growth opportunities, leveraging strong demand for Marriott’s select-service brands and growing demand for its upper upscale and luxury portfolios. The company expects to debut the Tribute Portfolio brand in India, with the opening of Port Muziris, Kochi, a Tribute Portfolio Hotel slated for the second quarter of 2019.
In South East Asia, Marriott International has over 140 signed hotels in a pipeline , with Indonesia leading growth. In the Philippines, the company expects to more than triple its hotel portfolio by 2023.
Marriott International continues its growth momentum in the Pacific region, with 50 hotels anticipated to be open by 2020. Australia should see several brand debuts in coming years, including The Luxury Collection and The Ritz-Carlton. The Tasman, a Luxury Collection Hotel, expects to open in Hobart in late 2019, TheRitz-Carlton Perth is slated to open in June 2019. Element Hotels, Marriott International’s eco-conscious brand, is expected to debut in Australia with the opening of Element Melbourne Richmond in Q3 this year.