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Marriott International has revealed it has had a strong year of growth with a record 123,000 gross room openings in 2024.
The company also had a net room growth of 6.8% for the full year 2024, with over 577,000 rooms in the company’s development pipeline at year-end.
In 2024, Marriott signed a record of over 1,200 deals with owners, franchisees and developers, representing nearly 162,000 rooms globally.
Marriott stated that 34% of its 2024 room signings came from conversion opportunities.
Its luxury portfolio of seven brands now comprises 658 hotels, resorts and branded residential properties, spanning 74 countries and territories.
In 2024, the company signed a record number of 61 deals for luxury hotels and resorts, closing the year with 266 in the pipeline.
Marriott continued to strengthen its footprint across the EMEA region, growing its pipeline to 596 properties representing 104,731 rooms at year-end.
In December 2024, Marriott announced the expansion of its outdoor-focused lodging offerings through two founding deals in the outdoor lodging segment.
The deals include the acquisition of the Postcard Cabins brand, formerly known as Getaway Outposts, and the execution of a long-term agreement with Trailborn.
Anthony Capuano, president and CEO, Marriott International, said: “2024 was a year of incredible growth for Marriott, as we celebrated regional milestones, segment entries, brand expansions, market debuts, and more.
“As we maintain our focus on the company’s purpose of connecting people through the power of travel, I couldn’t be more excited about the work our global teams are doing to drive growth and innovation, create best-in-class experiences for our guests, and deliver strong results for our owners and franchisees.”
Leeny Oberg, chief financial officer and executive vice president, development, added: “We are thrilled to continue our innovation journey with world-class owners, franchisees, and developers to meet the needs of every traveler and trip purpose. As we continue expanding and enhancing offerings for our development stakeholders and guests, we are immensely proud of the breadth and depth of our industry-leading portfolio that delivers new travel opportunities around the world.”
