Starwood Merger to Increase Marriott’s Size to Over 100,000 Rooms in Europe
Marriott International in Europe, a division of Marriott International Inc. (NASDAQ:MAR), announces today that it will double in size once its acquisition of Starwood Hotels & Resorts Worldwide, Inc. (HOT:NYSE) is complete. In Europe, the company will reach over 123,000 opened or signed rooms when Marriott’s 61,000 open rooms join with Starwood’s 40,500 open rooms and the combined pipeline of 21,500 rooms.
Starwood’s luxury brands, including St. Regis, Luxury Collection and W Hotels, will also complement Marriott’s luxury brands, including The Ritz-Carlton, EDITION and JW Marriott. The newly acquired luxury brands will complement Marriott’s existing offering in the economy and mid-tier sector, including Moxy Hotels, AC Hotels and Courtyard Hotels, yielding 22 lodging brands across Europe from economy to luxury.
Amy McPherson, president and managing director, Marriott International, Europe commented, “It’s been an extraordinary time for Marriott. We signed over 10,000 new rooms in 2015 for the first time in our history, doubling in size since 2010. Added to this unprecedented growth was the announcement of our Starwood acquisition which is expected to close in mid-2016. Our momentum is incredible.”
Marriott’s Autograph Collection, a collection of independent hotels and the industry’s fastest growing full-service brand, should open four hotels in 2016 including two Roomers hotels in Germany. AC Hotels, the urban European design hotel brand, which has recently been introduced to the U.S. with great success, is expected to open 22 hotels globally and will launch in the U.K. for the first time in Manchester and Birmingham in May. Moxy Hotels, Marriott’s lifestyle economy brand, should experience its biggest growth in 2016 with five new hotels expected to open by the end of 2016 and at least nine new hotels open by end 2017. In addition, Courtyard Hotels should see its new contemporary design at three new hotels in Edinburgh, The Czech Republic and Brussels.
With over 4,400 rooms scheduled to open this year, Marriott’s Central and Eastern regions should account for over 70 percent of Marriott’s total European development. Five new Marriott Hotels are expected to open in Germany, Belarus, Macedonia and Russia, and three new Moxy hotels should open in Germany, along with an AC Hotel in Mainz, Germany. Two new Marriott Hotels opened in the Netherlands earlier this year along with an AC Hotel in Marseille. In April, a new stunning Renaissance property is expected to open in Paris, the Renaissance Paris Republique Hotel, situated in the trendy Canal Saint Martin district.
In the UK, the London Marriott Hotel County Hall and Grosvenor House, a JW Marriott Hotel, two of Marriott’s most iconic and celebrated London hotels, should complete major renovations by spring of this year and the Moxy Hotels brand is expected to open its first UK hotel in Aberdeen.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,400 properties in 87 countries and territories. Marriott International reported revenues of more than $14 billion in fiscal year 2015. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands.
Note:
This press release contains “forward looking statements” within the meaning of U.S. federal securities laws, including statements about the number, locations and opening dates for new hotels, and similar statements concerning anticipated future events and expectations 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 supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with franchisees and property owners; the availability of capital to finance hotel growth; the receipt of governmental and other consents, and other risk factors identified in Marriott International, Inc.’s most recent quarterly annual report on Form 10-K; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For Further Information:
www.marriott.com
No comment yet, add your voice below!