Marriott International Expects To Add Nearly 20 Properties Under Its Middle East And Africa Portfolio In 2019
"Our growth across the
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
Unwavering Demand for Luxury Brands that offer Unrivalled Experiences
The company is poised to expand its luxury footprint in the region by more than 70 percent 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 ofW Muscat andW Yas Island , W Hotels should double its portfolio in the region. - St. Regis anticipates debuting in
Jordan andEgypt with the openings of The St. Regis Amman and The St. Regis Cairo. - The iconic
North Island is expected to join The Luxury Collection's portfolio of world-renowned hotels and resorts. JW Marriott anticipates marking its entry intoOman with the opening of theJW Marriott Muscat Convention Center .
Substantial Growth across
The growth of
- The Autograph Collection anticipates marking its debut in
Kenya with the addition of Sankara Nairobi. - Marriott Hotels and
Marriott Executive Apartments strengthened its presenceinSaudi Arabia with the recent openings in the Diplomatic Quarter ofRiyadh .Marriott Executive Apartments is also expected to open a new property inMadinah later this year. - Marriott Hotels is also planning to open its second property in
Algeria , in the capital city ofAlgiers
In addition to the openings in 2019,
Regional Demand for Select-Service Hotels Continues to Fuel Growth
Currently representing over 40 percent of the company's development pipeline through 2023, select-serve brands continue their rapid growth trajectory across the
- Four Points by Sheraton anticipates expanding its portfolio with a total of four openings in 2019. The brand recently opened properties in in
Sharjah (UAE ) and Setif (Algeria ) and is on-track to open two more properties this year including, Four Points by Sheraton Dar es Salaam New Africa inTanzania and Four Points by Sheraton Lahore inPakistan . Residence Inn byMarriott expects to make its debut inAlgeria with the opening ofResidence Inn by Marriott Algiers- Protea Hotels by
Marriott plans to expand the brand inUganda with the opening ofProtea Hotel by Marriott Naguru Skyz. - Element Hotels is set to launch its first property in
Africa with the opening of Element Dar es Salaam inTanzania .
To learn more about
Note on Forward-Looking Statements: This news release contains "forward-looking statements" within the meaning of federal securities laws, including the number of lodging properties the company may add in this and future years and similar statements concerning possible future events or expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including changes in market conditions; changes in global and regional economies; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth and refurbishment; and other risk factors that the company identifies in its most recent annual report on Form 10-K or quarterly report on Form 10-Q; any of which could cause actual results to differ materially from the expectations we express or imply here. We make these statements as of the date of this press release, and we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About
IRPR#1
View original content to download multimedia:http://www.prnewswire.com/news-releases/marriott-international-expects-to-add-nearly-20-properties-under-its-middle-east-and-africa-portfolio-in-2019-300826118.html
SOURCE
Media Contact: Chandan Belani, +971 50 550 1732, chandan.belani@marriott.com; Megan Treacher-Evans, +971 55 568 8905, MarriottInternational@fourcommunications.com