Marriott International Reports Record Growth in Asia Pacific, Luxury Portfolio Booms
Marriott International has reported a record-breaking year in the Asia Pacific, excluding China (APEC), region. The company debuted in Papua New Guinea and expanded its presence to 22 countries and territories, with a significant boost in its luxury portfolio and Marriott Bonvoy membership base.
The exceptional growth can be attributed to key development milestones, market expansions, and new brand introductions in sought-after destinations, according to Rajeev Menon, President, Asia Pacific excluding China, Marriott International. The company closed the year with 77,532 total rooms in the region's year-end pipeline.
Marriott International plans to further grow its luxury portfolio in the region, with 19% of signed deals in 2024 dedicated to luxury brands. The Marriott Bonvoy membership base in APEC has doubled since 2019, contributing to 70% of occupancy in APEC hotels. The hotel group signed 109 deals across 11 markets, contributing 21,439 rooms to the region's development pipeline, bringing its regional pipeline to 363 properties and 77,532 rooms.
The Marriott Bonvoy app has seen a 100% year-over-year increase in downloads and a shift from web to mobile bookings, with 70% of bookings now coming through the mobile app. Intra-APEC travel now comprises nearly 60% of Marriott's business, up from around 37-38% pre-pandemic.
Marriott International's record-breaking year in the APEC region reflects the company's strategic expansion and investment in the area. With a strong pipeline and growing Marriott Bonvoy membership base, the hotel group is well-positioned for continued success in the region.
