Just one year after announcing its intention
to expand presence in premium and luxury apartment-style
accommodations, Marriott has opened its first property in
Puerto Rico and signed agreements
in the United States, Italy, and Saudi
Arabia
BETHESDA, Md., Jan. 24,
2024 /PRNewswire/ -- Today, Marriott International,
Inc. (Nasdaq: MAR) announced plans to further expand its new
Apartments by Marriott Bonvoy™ brand offering, with signed
development agreements in the United
States, Italy, and the
Kingdom of Saudi Arabia. Today's
announcement comes on the heels of the recent opening of Marriott's
first Apartments by Marriott Bonvoy property, Casa Costera,
Isla Verde Beach, in San Juan, Puerto Rico.
"Marriott is thrilled to bring Apartments by Marriott Bonvoy to
our development community around the world," said Marriott
International Chief Financial Offer and EVP, Development Leeny
Oberg. "This new, compelling offering provides residential and
hotel developers an excellent value proposition for new builds and
conversion opportunities. As guests are increasingly blending work,
personal and family travel, they are looking for a distinct and
locally inspired solution to meet their longer-stay needs."
Providing guests with a truly independent stay, complete with
sizable living spaces and sophisticated locally inspired design,
the properties are situated in prime locations and designed to
offer premium and luxury apartment-style accommodations. No matter
their length of stay, guests can expect private bedrooms, a
separate living room, full kitchen, and in-unit washer and dryer to
make them feel right at home.
From an owner perspective, Apartments by Marriott Bonvoy
provides residential and hotel developers a unique option to
convert an existing building, pursue a new build, or integrate as
part of a multi-use property with a dedicated welcome lounge,
outdoor space, and other amenities. Current Marriott owners and
franchisees who are looking to diversify their portfolios, as well
as multi-family residential developers, have the power of both
Marriott's trusted name and award-winning loyalty program, Marriott
Bonvoy® behind each project.
With signed agreements in Detroit and St.
Louis in the United States,
Courmayeur, Valle D'aosta in
Italy, and NEOM, Saudi Arabia, Apartments by Marriott Bonvoy is
expected to continue growing its presence around the world through
2024 and beyond.
United
States
Marriott recently announced a signed agreement with Roxbury
Group for an Apartments by Marriott Bonvoy in Detroit, Michigan.
Anticipated to open Q3 2024, the property is a conversion of The
Plaza Apartments in Midtown Detroit, centrally located in the hub
of the city. With approximately 92 units, this location will also
have a 500 square foot fitness center and sits atop two restaurant
outlets with easy access for guests.
Marriott is also announcing a new project with Midas
Hospitality, a longtime owner and operator of Marriott properties,
for an Apartments by Marriott Bonvoy in St. Louis, Missouri. This 50-unit property
will be co-located with a new Sheraton Hotel in downtown
St. Louis. With a dedicated hotel
entry, welcome lounge and check-in, guests can also take advantage
of the hotel's services and amenities. Located in a historic
building that was constructed in 1929, this property's design will
reflect the heart and history of the city, while offering guests
the comforts of modern living.
Italy
In Courmayeur, Aosta Valley, Italy, Marriott signed
an agreement with Castello Sgr, an asset management company with
strong hospitality expertise, to open Le Géant, an Apartments by
Marriott Bonvoy property.
Paving the way for a new type of development project, this
property is anticipated to have 47 units, each offering
travelers sizeable living spaces and sophisticated locally-inspired
design, to make each stay refreshingly unique.
NEOM, Kingdom of Saudi Arabia
Marriott has also signed an agreement with NEOM to bring
Apartments by Marriott Bonvoy to the luxury island destination
Sindalah on the northwest coast of Saudi
Arabia, a luxury island destination in the Red Sea. This
Apartments by Marriott Bonvoy offering, marking the fourth
collaboration between Marriott and NEOM on Sindalah, will be
designed to reflect the destination and cater to travelers seeking
more space and residential amenities.
Anticipated to open in 2024, the property will feature 218 units
including studios and one, two and three-bedroom apartment-style
units, all equipped with a separate living room, full kitchen, and
in-unit washer and dryer. The property is also slated to offer a
gym and swimming pool.
Note on forward‐looking statements:
This press release
contains "forward‐looking statements" within the meaning of federal
securities laws, including statements related to expected unit
growth and new project openings and similar statements concerning
possible or anticipated future events and expectations that are not
historical facts. We caution you that these statements are
not guarantees of future performance and are subject to numerous
evolving risks and uncertainties that we may not be able to
accurately predict or assess, including the risk factors that we
describe in our Securities and Exchange
Commission filings, including our most recent Annual Report on
Form 10‐K and Quarterly Reports on Form 10-Q. Any of these
factors could cause actual results to differ materially from the
expectations we express or imply in this press release. We
make these statements as the date of this press release, and we
undertake no obligation to publicly update or revise these
statements, whether as a result of new information, future events
or otherwise.
About Marriott
International
Marriott International, Inc. (NASDAQ: MAR) is based in
Bethesda, Maryland, USA, and
encompasses a portfolio of nearly 8,800 properties across more than
30 leading brands in 139 countries and territories. Marriott
operates and franchises hotels and licenses vacation ownership
resorts all around the world. The company offers Marriott Bonvoy,
its highly awarded travel program. For more information, please
visit our website at www.marriott.com, and for the latest company
news, visit www.marriottnewscenter.com. In addition, connect with
us on Facebook and @MarriottIntl on X and Instagram.
About Apartments by Marriott
Bonvoy™
Apartments by Marriott Bonvoy offers a truly independent stay
with sizable living spaces and sophisticated locally inspired
design, making each stay refreshingly unique. Centrally located,
premium and luxury apartment-style accommodations are designed with
private bedrooms, a separate living room, full kitchen and in-unit
laundry. Apartments by Marriott Bonvoy, one of more than 30 brands
in the Marriott Bonvoy portfolio, participates in Marriott Bonvoy,
the company's award-winning travel program and Marketplace. To
learn more and book a stay, visit Marriott.com.
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SOURCE Marriott International, Inc.