Marriott sees continued growth in Greater China with 50+ anticipated hotel additions in 2022
03/04/2022|2:35:42 PM|MarketScreener

Marriott International, Inc. announced plans to expand its portfolio in Greater China with the anticipated additions of more than 50 hotels in over 30 destinations across the region in 2022. The company also expects to open its 500th hotel in Greater China in early 2023, underscoring its confidence in the recovery and long-term growth of the region.

"Greater China is an important growth market for us. In the past three years, Marriott International has expanded its footprint in the region with an average of 40 hotel additions per year. Currently, our portfolio includes 448 hotels spanning 23 brands across more than 110 cities in Greater China," said Mr. Henry Lee, President, Greater China, Marriott International. 

According to the latest Bain & Company Luxury Study, China's share of the global luxury market grew to 21% last year, putting the country on track to become the world's largest luxury market by 2025. Marriott expects to enhance its luxury hotel presence in additional leisure destinations in the region and continues to differentiate its brand experiences to better serve guests.

Marriott is poised to strengthen the presence of its premium brands across leisure destinations in 2022. The company expects to add more than 15 hotels in over 10 destinations, aiming to satisfy guests' desire to explore popular cities for getaways such as Chengdu, Xi'an, Sanya and Qinhuangdao.

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