Marriott Achieves Record Growth in APEC Region
Marriott International has marked a milestone year in the Asia Pacific excluding China (APEC) region by signing an unprecedented 109 agreements across 11 markets in 2024. These landmark deals add 21,439 rooms to the company’s development pipeline, bringing the region’s total to 77,532 rooms by year’s end. This surge in new agreements highlights Marriott’s strategic expansion into diverse market segments—from luxury to midscale—while reinforcing its leadership in the dynamic hospitality landscape of APEC.
According to Rajeev Menon, President, Asia Pacific excluding China at Marriott International, “2024 was a record-breaking year for Marriott International in APEC, with exceptional growth driven by key development milestones, market expansions, and the introduction of new brands in sought-after destinations.” Menon emphasized that the region remains pivotal in Marriott’s growth strategy, as the company continues to evolve in response to the changing needs of modern travelers. With these new developments, Marriott is set to not only expand its luxury offerings but also make a strategic entry into the midscale market.
In 2024, Marriott’s 109 new agreements expanded its regional portfolio to 363 properties, marking a 12 percent increase from the previous year. Key markets such as India, Japan, and Indonesia played a critical role in this growth, accounting for 72 percent of the new signings. The luxury sector remained a focal point, representing 19 percent of the new contracts. Over 20 agreements under Marriott’s Luxury Group brands added approximately 4,600 rooms to the pipeline, with notable upcoming openings including EDITION hotels in Jakarta and Mumbai, new Ritz-Carlton properties in Jaipur and Udaipur, and a second W Hotels property in Singapore.
Marriott’s growth strategy in the APEC region also leveraged property conversions, which accounted for 36 percent of the new signings in 2024. The debut of Japan’s new Four Points Flex by Sheraton marked Marriott’s entry into the affordable midscale segment in the region. This multi-unit agreement with KKR involves converting 14 properties across 10 Japanese cities, culminating in the official launch of Four Points Flex by Sheraton Osaka Umeda in November 2024—Marriott’s 100th property in Japan. This conversion strategy not only strengthens Marriott’s market presence but also offers a flexible approach to property management that meets the evolving demands of today’s travelers.
Additionally, Marriott expanded its brand footprints by entering fresh territories. The launch of Marriott Executive Apartments Port Moresby in Papua New Guinea extended its operations to 22 countries and territories within the APEC region. Meanwhile, Marriott’s lifestyle-driven brand Moxy Hotels continued its rapid growth with new openings such as Moxy Bengaluru Prestige Tech Cloud in India, Moxy Putrajaya in Malaysia, and Moxy Bangkok Ratchaprasong in Thailand. These developments cater to modern travelers seeking energetic, design-forward accommodations that reflect local culture and style.
Marriott celebrated major milestone openings across APEC, including the 600th property in the region—the Adelaide Marriott Hotel in Australia; the 150th property in India with the Katra Marriott Resort & Spa; the 50th property in Malaysia at the Penang Marriott Complex; and the 100th property in Japan at Four Points Flex by Sheraton Osaka Umeda. With 635 operating properties across 25 brands in 22 countries and territories, Marriott International continues to strengthen its market leadership in APEC, offering compelling opportunities for developers, franchisees, and investors alike.
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